Long An is ready to welcome FDI investment wave from USA

On November 13, local time, the Vietnam and US Businesses Conference organized by the Vietnam Confederation of Commerce and Industry (VCCI) in coordination with the Los Angeles Regional Chamber of Commerce and investment promotion organizations took place at the Bank of America building. This is an event that brings together many leading businesses and experts to exchange and promote bilateral investment and trade cooperation between the two countries when the Vietnam - United States relationship has been upgraded to Comprehensive Strategic Partnership for peace, cooperation and sustainable development.

At the conference

The conference has the attendance of Vice President in charge of international trade and foreign investment - Los Angeles Regional Chamber of Commerce - Kenneth Laird Wengrod; Director of Commercial Services, US Department of Commerce - Richard Sayouty; Head of International Relations Department of Vietnam Federation of Commerce and Industry - Nguyen Tuan Hai and the delegation of Long An and Thai Nguyen provinces, Vietnamese infrastructure and industrial production enterprises, and many leaders of US corporations, businesses, and entrepreneurs in the fields of high-tech industry, digital transformation, import-export, services, logistics, education, etc.

Vice President of Los Angeles Regional Chamber of Commerce - Kenneth Laird Wengrod delivers the opening speech at the conference

In his opening speech, Vice President of Los Angeles Regional Chamber of Commerce - Mr. Kenneth Laird Wengrod assessed that this is a good opportunity for US investors to access and update information on the economic, trade, orientation situation of foreign investment attraction of Vietnamese localities attending the conference.

He also shared similarities in business culture, development orientation, and cooperation between Los Angeles City and Long An and Thai Nguyen provinces. At the same time, he affirmed that the trade agency under the US Department of Commerce will be the focal point agency, organizing activities connecting businesses between the two countries with diplomatic agencies and investment promotion organizations to enhance mutually beneficial bilateral cooperation for common development and prosperity based on the foundation of increasingly well-developed and upgraded friendly relations to a strategic level of the two countries.

Vice Chairman of Provincial People's Committee - Nguyen Minh Lam speaks at the conference

In his welcoming speech at the conference, Vice Chairman of Long An Provincial People's Committee - Nguyen Minh Lam said that the cooperative relationship between Vietnam and the United States has achieved substantive developments, increasingly deepening based on three pillars of economic - trade - investment cooperation after the two countries upgraded to a comprehensive strategic partnership. Long An province will promote the implementation of breakthrough solutions to improve the quality of the investment environment, building special support mechanisms for projects with large scale and investment capital.

At the same time, he also pledged that the provincial leaders will accompany US investors and businesses and believes that in the shortest time there will be more US investors coming to Long An to deploy large  investment projects to welcome a wave of FDI investment from the world's leading economy.

It is known that currently, Long An has built economic relationships with nearly 40 countries and territories, attracting over 1,200 FDI investment projects with a total investment capital of over 10.5 billion USD. US alone has 23 projects with a total investment capital of over 484 million USD, ranking 8th in total number of projects and 6th in investment capital. However, this result is considered to be not commensurate with the investment potential of US businesses.

Acting Director of the Department of Planning and Investment of Long An - Truong Van Liep introduces the investment environment of the province

During this conference, Long An province had a concise and focused introduction of the investment environment to promote and introduce the province's potentials, advantages and development orientation through video clips and presentations. Through that, Acting Director of the Department of Planning and Investment - Truong Van Liep affirmed that Long An has an important strategic position in connecting Vietnam's leading economic center, Ho Chi Minh City, to the River Delta Region, this helps the province receive resonance in industrial and urban development and become a truly attractive investment destination. Currently in the province there are large projects from US investors with global brands such as Pepsi, Coca Cola, Avery Dennison, etc.

In particular, the Provincial Masterplan for the period 2021-2030, with a vision to 2050 by Mc Kinsey Company - the leading planning consulting unit in the United States, has oriented the development of the province in a quality and sustainable way to catch the wave of FDI investment, especially from US businesses.

At the same time, with the efforts of the provincial government in synchronously upgrading the socio-economic infrastructure network, simplifying administrative procedures, integrating digital transformation applications in a modern and user-friendly direction and improving the quality of human resources according to international standards, Long An has prepared the best conditions to welcome US investors.

Accordingly, the province prioritizes attracting investment from US businesses in key areas such as industry 4.0 automation, manufacturing components - electronic equipment and software, semiconductor industry, and artificial intelligence; smart ecological urban areas; logistics seaport services; border gate economy; High-tech agriculture; recycled energy; etc.

At the conference, provincial leaders also witnessed the signing ceremony of a Memorandum of Understanding between the Vietnam Federation of Commerce and Industry and the Los Angeles Regional Chamber of Commerce in connecting and promoting promotion investment and trade between Vietnamese and US businesses.

Provincial leaders witnessing the signing of the MOU between VCCI and the Los Angeles Regional Chamber of Commerce

Also within the framework of the conference programs, leading experts from foreign trade and investment organizations and associations gave presentations to share experiences to help Vietnamese businesses build appropriate business strategies to penetrate the US market in a strong and comprehensive way.

Leaders of Long An province and accompanying businesses exchange with US businesses delegates

After the conference, US businesses and investors exchanged and discussed directly with leaders of Long An province, accompanying departments, branches, and businesses about cooperation and investment opportunities in various areas that the province is calling for to attract FDI.

At the same time, investors are especially paying serious attention to reforming and shortening administrative procedures to create conditions for FDI companies to operate. Through exchanges, many US businesses highly appreciated the province's investment environment and pledged to prioritize research and investment in Long An.

In the coming time, Long An expects to earn many positive results in investment and trade cooperation between localities and businesses of the two countries to create mutually beneficial relationships for success and sustainable development./.

By Vu Dat - Translated by Q. Thien

Source: https://baolongan.vn/long-an-s-n-sang-chao-don-lan-song-dau-tu-fdi-tu-hoa-ky-a166325.html