Vietnam offers many opportunities for US investors.

Mr. Adam Sitkoff, Executive Director of the American Chamber of Commerce (AmCham) in Hanoi .

How would you assess the cooperation between Vietnam and the United States over the past 30 years?

The United States and Vietnam are currently very close friends and partners. The two countries are also Comprehensive Strategic Partners.

US businesses and investors are operating in almost all sectors of the Vietnamese economy , making a significant contribution to Vietnam's integration into global supply chains. The investment and business activities of US companies in Vietnam create many quality jobs, making the Vietnamese economy more productive and secure. I believe that people in both countries have benefited greatly from this.

Trade is the foundation of the bilateral relationship. Over the 30 years since Vietnam and the United States normalized economic relations, trade between the two countries has made remarkable progress. Bilateral trade turnover, from a very small figure of $451 million in 1995, has increased to $150 billion in 2024.

What are his expectations regarding US investment flows into Vietnam?

Cumulative US investment in Vietnam has reached over ten billion USD, creating tens of thousands of direct jobs and hundreds of thousands of indirect jobs. US businesses invest in manufacturing and infrastructure; provide high-quality goods and services; bring advanced technology and business practices; and pay significant taxes in Vietnam.

Not only is the United States one of the largest foreign investors in Vietnam in terms of total investment capital, but it has also been Vietnam's number one export market for many years. Conversely, Vietnam is one of the top 10 trading partners of the United States.

Apple, Nike, and hundreds of other US companies have chosen Vietnam as their destination because the Vietnamese market offers significant potential and opportunities. If Vietnam continues its efforts to create a favorable, fair, and predictable investment environment, further improves its legal framework, and values innovation, then US investors will continue to do business in Vietnam.

High-quality foreign investors not only make a significant contribution to the development of Vietnam's economy, but also help develop the entire ecosystem of Vietnamese businesses and entrepreneurs.

The expansion of existing investors in Vietnam is the best way to attract new investment. Therefore, I hope that Vietnamese authorities will pay attention and create favorable conditions for US businesses operating in Vietnam to have the best chance of success.

According to him, will the upcoming US tax policy on Vietnamese goods affect US investment in Vietnam?

Vietnam and the United States are nearing completion of an agreement regarding the reciprocal tariffs that the United States will apply to goods imported from Vietnam. We hope and expect that Vietnam will maintain its competitive position in the global supply chain and that trade and investment will continue to grow at a rapid pace.

I've also been asked whether the upcoming US tax policy on Vietnamese goods will affect US investment in Vietnam. My answer is no. As I just mentioned, Vietnam is a very good destination for many businesses from many countries. There are many reasons why they are here, and importantly, they are here not just because of the low costs.

Typically, it takes a considerable amount of time to implement an investment project. I had the opportunity to speak with a European company operating in Vietnam. From the moment they decided to open another factory in Vietnam until that factory became operational, it took several years to complete. An investor's plan doesn't happen overnight or within a short period. Many businesses have long-term projects in Vietnam and long-term commitments to the country. I believe this will continue.

According to him, what would be the best solution to boost bilateral trade between Vietnam and the United States?

President Donald Trump is focusing on the trade imbalance. In my opinion, Vietnam should take some necessary actions. For example, Vietnam could purchase some high-value goods from the United States to help reduce the trade deficit; be more transparent about the origin of goods and increase domestic content; and continue to improve the investment environment further, removing barriers for US businesses and investors in Vietnam.

We recommend that Vietnam improve its legal regulations, abolish regulations that hinder foreign investment, and avoid creating administrative burdens for businesses and investors.

Vietnam and the United States are good partners. I believe that all challenges and problems can be resolved through dialogue and negotiation.

Source: https://baodautu.vn/viet-nam-mang-den-nhieu-co-hoi-cho-nha-dau-tu-hoa-ky-d321301.html