AmCham says Vietnam most attractive destination for U.S. investors

CA - Vietnam has become the most attractive destination in ASEAN region for the U.S. companies, the American Chamber of Commerce (AmCham) said in a business outlook survey released on August 26.

The survey covered 328 the U.S. firms operating in Cambodia, Indonesia, Malaysia, the Philippines, Thailand, Singapore and Vietnam, with 57% of them doing business in Vietnam, according to AmCham’s survey.

Amcham said that up to 71% of the U.S. enterprises in Vietnam and 30% of the American firms in ASEAN plan to expand operations in the country in next two years, the highest rate in the regional countries.

The U.S. companies are keen on services, logistics and manufacturing in Vietnam, Steven R.Okun chairman of Amcham in ASEAN said, adding that many American businesses expect to build their plants in the Southeast Asian country, including UPS Logistics Group.

He noted that AmCham Vietnam plans to hold a seminar to provide necessary information to the U.S. firms in ASEAN to help them have a good preparation to enter the Southeast Asian market.

The U.S. companies invested US$1.79 billion in Vietnam in the first eight months of this year, ranking the second among countries and territories making direct investment in the country.

As of July 20, the American firms poured US$15.67 billion into 545 projects in Vietnam, becoming the 6th among investors in the Southeast Asian country, the Ministry of Planning and Investment’s figured showed.