Author: Francesco Guarascio
HANOI (Reuters) – SpaceX, Netflix and Boeing are amongst the organizations joining the “biggest ever” U.S. company mission to Vietnam subsequent week to talk about investment and sales possibilities in the booming Southeast Asian nation, organizers mentioned.
Far more than 50 organizations, which includes defense, pharmaceutical and technologies firms, will participate in the mission organized by the US-ASEAN Organization Council, an sector physique, according to a list observed by Reuters.
The delegation is a sign of increasing interest in the international manufacturing hub, which is benefiting from a shift away from China amid Sino-US trade friction.
Vietnam, with a population of one hundred million men and women, also has a speedy-increasing customer market place as its middle class expands.
“This is the most significant mission ever in Vietnam,” mentioned Vu Tu Thanh, the US-ASEAN Organization Council representative in the nation, noting that the physique has been organizing these events for 3 decades.
Streaming giant Netflix, which Reuters reported final month was organizing to open an workplace in Vietnam, is amongst the organizations joining the trip. Netflix did not respond to a request for comment.
Aerospace makers Boeing, Lockheed Martin and Bell will hold meetings with Vietnam’s state-owned defense procurement organizations, Tan told Reuters, adding that it was the 1st time in about a decade that safety firms had decided to join the annual mission to Vietnam.
In December, the similar organizations held talks with Vietnamese government officials about the feasible sale of helicopters and drones, as the nation seeks new suppliers and the conflict in Ukraine strains the capabilities of Russia, Vietnam’s primary military companion for decades.
“Helicopters are 1 of the points that the organizations are hoping to sell to the Vietnamese,” Tan mentioned, despite the fact that he cautioned that defense bargains will take time to comprehensive and no instant progress is anticipated.
Boeing mentioned in a statement that its discussions with officials will concentrate on its increasing partnership with Vietnam and strategies to strengthen the country’s aerospace and defense capabilities.
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Lockheed Martin and Bell did not respond to requests for comment.
Most of the organizations joining the company mission currently have a company or manufacturing presence in Vietnam, which includes Apple, Coca-Cola and PepsiCo, Thanh mentioned, and some program to expand.
Some organizations are also coming to far better fully grasp the political predicament just after current turmoil in the Communist Celebration-run nation, which includes the resignation of the president in January, Tan added.
Participants will have meetings with Vietnam’s leading political and regulatory leadership, which includes Prime Minister Pham Minh Chinh.
Tan mentioned some organizations are interested in Vietnam as a manufacturing hub and to serve increasingly affluent buyers at a time when financial development reached a lot more than eight % final year.
Amongst them is SpaceX, which desires to sell its satellite Online solutions to Vietnam and other nations in the area, Thanh mentioned. SpaceX did not respond to a request for comment.
The mission will also include things like semiconductor organizations, pharmaceutical giants Pfizer and Johnson & Johnson, healthcare device maker Abbott, economic firms Visa and Citibank, world-wide-web and cloud organizations Meta and Amazon Net Solutions, the list showed.
(Reporting by Francesco Guaraccio Editing by Jamie Freed)
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