In Can Tho City yesterday, the Can Tho Investment - Trade Promotion and Exhibition Center joined forces with the US Consulate General in Ho Chi Minh City to host the workshop ‘Expanding Business in the United States’.
Vice Chairman Nguyen Thuc Hien of the People's Committee in Can Tho City said that according to the Ministry of Industry and Trade, in the first 9 months of 2024, two-way trade between Vietnam and the United States exceeded US$100 billion. The United States continued to be Vietnam's largest export market, with export turnover reaching $89.4 billion accounting for 29.8 percent of the country's total export turnover.
Moreover, he continued that in the first 10 months of 2024, Can Tho City’s total export turnover of goods and service revenue and foreign currency reached over $1.9 billion, of which the export turnover to the United States topped $106 million.
It is forecasted that in the coming time, exports to the United States will continue to recover and grow as consumer demand increases.
A major worry for Vietnamese exporters is the potential increase in U.S. trade defense measures on imports, necessitating a thorough understanding of U.S. trade regulations to mitigate this risk.
US Ambassador to Vietnam Marc Knapper noted that while Vietnam ranks as the 8th largest trading partner of the United States, it also sees the U.S. as its top export market, prompting Vietnamese companies to seek greater business opportunities in America.
According to Ambassador Knapper, today's workshop is a preparatory activity for the SELECTUSA Investment Summit 2025, an annual program organized by the U.S. Department of Commerce and its trade offices to promote and facilitate foreign direct investment in the United States. The summit is scheduled to be held from May 11 to 14, 2025.
He revealed that he led a record-breaking Vietnamese delegation of over 65 business leaders from 50 companies to the SELECTUSA conference in Washington D.C last June. This delegation, with its strong female leadership, was among the top 10 largest delegations, and Vietnam is also in the top 10 countries with the largest number of delegates.
US Ambassador to Vietnam Marc Knapper said that the US government is thrilled by the growing interest of Vietnamese businesses in expanding operations to the United States in order to better serve their customers. This strategic move brings these businesses closer to their American customers, fostering stronger economic ties between the two nations. He expressed his hope for a larger Vietnamese business delegation, including members from Can Tho City and the Mekong Delta, to mark the 35th anniversary of Vietnam-U.S. bilateral relations in 2025.
At the workshop, representatives of the Southern Investment Promotion Center under the Ministry of Planning and Investment provided information on Vietnam's investment abroad and regulations on overseas investment while representatives of the US Consulate General in Ho Chi Minh City gave guidance on US Visa procedures for businesses.
