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Thu, 03/07/2024 - 11:20
Submitted by maithuy on Fri, 12/17/2010 - 09:35
Business and investment prospects and opportunities for the US in the southern key economic region was the theme of a Vietnam-US business forum held in Ho Chi Minh City on December 16.
The region accounts for 60 percent of the State budget and over 70 percent of the country’s export turnover and is now leading the country in Foreign Direct Investment (FDI) attraction.

At the forum, the Deputy Director of the Ho Chi Minh City Economic Institute, Nguyen Thieng Duc said the region has gain considerable advantage from industry, hi-tech, electronics, information technology, oil and gas technologies and petrochemical products as well as high-end services such as finance and banking, telecoms and tourism.

The Ministry of Planning and Investment said that by August 2010 the US had 544 investment projects in Vietnam with a total registered capital of US$16.4 billion, ranking sixth among 92 countries and territories investing in the country.

In the first nine months of this year, US investment reached nearly US$1.8 billion, accounting for 15.7 percent of the total newly registered capital, and was poured mainly into Ba Ria-Vung Tau, Dong Nai and Binh Duong provinces and Ho Chi Minh City.

Two-way trade between Vietnam and the US has continuously increased over the past years. The US remains Vietnam’s largest export market with an export turnover reaching US$9.1 billion in the first eight months of 2010, up 25. 7 percent over the same period last year.

Vietnam exports mainly garments, footwear, wood and wooden products and seafood to the US, while importing machinery, equipment, cattle feed and materials from the North American country.
VOVNews/VNA

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