Vietnam businesses seek strategic partners during US visit

21-Jun-2005 Intellasia | 20/Jun/2005 Lao Dong | VnExpress | 1:42 PM Print This Post

More than 80 businesses led by the chair of the Vietnam Chamber of Industry and Commerce Vu Tien Loc on very early June 19 morning accompanied prime minister Phan Van Khai?s visit to depart to the US and Canada for ten anticipated days.
Vietnamese businesses have prepared a specific and busy working agenda very carefully and thoroughly. The value of contracts due to be signed in the US is estimated at over US$1.5 billion.
At the headquarters of the US Department of Commerce, prime minister Khai will witness a signing ceremony of a purchase deal of four Boeing 787 aircraft with national flag carrier Vietnam Airlines, together with contracts with the Vietnam Oil and Gas Corp (PetroVietnam) and Vietnam Post and Telecommunications Corp (VNPT).
A series of other well known Vietnamese firms also bring their big business contracts such as Viet Tien Garment Co, 10 Garment Co, State-run Vietnam general Rubber Co (Geruco), Duc Long Furniture Co, Vietnam Construction Import-Export Corp (Vinaconex), Vietnam Ship Building Industry Corp (Vinashin), Vietcombank, Dragon Capital and some other Vietnamese big companies.
VCCI chair Vu Tien Loc said that the list of businesses that has received approval by the prime minister to depart to the US and Canada must have specific working agendas and plans.
Chair of the management board of the Au Lac Co., Ltd, investor owner of the Tuan Chau Resort Project Dao Hong Tuyen said that apart from the purpose of visiting its partner Dye Vietnam Ltd, the country?s biggest foreign direct investment project, this company will sign a deal worth over US$200 million with the entertainment conglomerate Las Vegas in New York.
Three top leaders of the country?s largest state banks in Vietnam?Vietcombank, Bank for Investment and Development of Vietnam (Bidv) and Mekong Delta Housing Development Bank (MHB) all have plans to establish representative offices in the US.
Under the trip schedule, general director of the Bidv Tran Bac Ha will meet about 20 large banks in the US and five banks in Canada that currently have sale agent relations with the Bidv.
According to VCCI chair Loc, prime minister Khai?s visit will have very big impacts on the business community of the two countries. ?Practise that Americans and US business community remain seeing Vietnam as a very poor country of 30 years ago. They do not have updated information on changes occurring drastically in Vietnam. Therefore, the main aim of the delegation is to popularise the picture as well as economy of Vietnam to the world in general and the US in particular,? Loc said.
Loc said that ?Up to the present, we can?t know whether Vietnam could wrap up bilateral negotiations with the US on the prime minister?s visit or not. But, the business community hopes that at least the US prime minister declares to soon end the negotiation between the two countries for Vietnam to enter the World Trade Organisation?.
Loc hoped that Vietnamese businesses could find big business and investment opportunities with strategic partners in the US, prepare for the post-WTO.
Tellingly, Au Lac Co., Ltd has sent a group of high-level officials bringing over 100 kilograms of documents waiting in the US.
Tuyen assessed that the US is a big partner. Good preparations can assure up to 70% of success for this visit. ?Currently, Vietnamese businesses are clearly aware of the importance and significance of the prime minister Khai?s visit to the US and Canada to seek business relations with foreign partners,? said the owner of Tuan Chau Island.
Not only the Vietnam side, most US companies that are currently operating in Vietnam all regard Khai?s visit as a good opportunity to expand business and investment relations.
About 20 groups, including 13 foreign-invested enterprises have already sent their representatives back to their country to prepare to join activities of the delegation.
Boeing, Microsoft, IDG, and others are expected to organise special receptions for the Vietnamese delegation and hold many meetings with Vietnamese partners.
Vice chair of the DOC Walter Blocker said that the Vietnamese market with over 80 million of population has become more attractive in US investors? eyes. Therefore, the US side will not be allowed to neglect such a special opportunity with the presence of 80 largest businesses of the country.


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