U.S. on track to be top investor in Vietnam — U.S.-ASEAN Business Council

HANOI (AFP) — May, 2009. The United States is on track to become the leading foreign direct investor in Vietnam, the head of a US business delegation said.

“I’m willing to wager… that within no more than three years, and perhaps a good deal less, the United States will be the largest foreign direct investor in Vietnam,” Matthew Daley, president of the US-ASEAN Business Council, told reporters.

He said that in the first quarter of this year, Vietnam registered about six billion dollars in foreign direct investment, more than half of which, about 3.86 billion dollars, came from American firms.

Stuart Dean, regional president of GE, said his firm got “great support” from Vietnamese authorities to allow quick construction of his company’s first manufacturing investment in Vietnam. The firm broke ground in Haiphong for a plant to build wind turbine components.

“We’re excited about doing more here, particularly in the infrastructure area,” he said.

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