US-ASEAN Business Council opens office in Ha Noi

02/11/2007 -- 9:49 PM

Ha Noi (VNA) – The US-ASEAN Business Council on November 2 inaugurated its office in Ha Noi. With a membership of around 120, most of whom represent America’s Fortune 100, the Council represents a broad, dynamic, and highly influential segment of American business. About one-fourth of the Council’s member companies are operating in Viet Nam and the number is expected to rise considerably as others are repositioning their business strategies towards the country, according to the Council’s press release. Earlier in a meeting with Vietnamese Deputy Prime Minister Hoang Trung Hai on November 1, US-ASEAN Business Council President Matthew P. Daley said that the US will become the largest foreign investor in Viet Nam. Daley also pledged to reach the goal in just one or two years if the Vietnamese Government speeds up investment climate reforms. Viet Nam and the US have enjoyed a surge in investment and commerce in recent years. 2007 two-way trade turnover is estimated at 13 billion USD while US investment has surpassed the 5 billion USD mark, making it the sixth largest investor in Viet Nam.-Enditem
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