U.S. firms showing strong interest in Vietnam

Over 50 US companies attended the “Meet the USA” conference held by Vietnam’s Ministry of Foreign Affairs and the US Embassy to Vietnam. US Ambassador to Vietnam Ted Osius said that he “would like to see the US become the number one investor in Vietnam,” but stressed that US firms were seeking more improvements in the local business climate.Walt Disney just opened a representative office in Ho Chi Minh City, and is looking for an Executive, Studio Marketing responsible for planning and executing movie marketing activities and initiatives in Vietnam. Meanwhile, Mickey Mouse greets children on HCM City’s Nguyen Hue Boulevard.

By setting up physical presence here, the Walt Disney can directly distribute its products to partners in Vietnam, better protect its copyrights, and provide designing consultancy for partners in Vietnam to build theme parks under the Disneyland model.

Coca-Cola met with Hanoi’s authorities regarding the building of a 20-hectare project in the city. The group is planning to invest another $300 million in Vietnam over the next few years. Coca-Cola has already invested $700 million here between 1994-2015, with some $300 million invested during 2013-2015.

US investment fund 500 Startups announced the launch in HCM City of a $10 million micro fund that will invest solely in Vietnamese startups. The organisation plans to fund 100-150 companies that have some connection to Vietnam, with checks ranging from $100,000 to $250,000.

Black & Veatch, which implements over 30 projects in Vietnam, announced last week that it was recruiting more employees for its expansion in Vietnam. The company is working with Japan’s Sumitomo Corporation to serve as technical lead on the expansion of the Duyen Hai 3 power plant in the southern province of Tra Vinh. Expected to be completed by 2018, the plant will meet 10 per cent of Vietnam’s annual electricity demand.

Vietnam’s Bank for Investment and Development of Vietnam (BIDV) and life insurer BIDV MetLife signed a co-operation deal to promote life insurance activities in Vietnam.

Vietnam’s Bien Dong Seafood also inked a contract with H2Origins Seafood Inc. to lift its Vietnamese aquatic product sales revenue to over $300 million over the next three years.

Vietnam’s Thai Group and US Hyatt Hotels also signed a $165 million deal on building a Park Hyatt Hanoi hotel slated for completion in 2018.

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