US-ASEAN Business Council to open office in Hanoi

VietNamNet Bridge - The US-ASEAN Business Council plans to open its office in Hanoi in response to the increasing need of American companies for business opportunities in Vietnam, said the Council’s President Matthew P. Daley in a press release on October 31.

With a membership of around 120, most of whom represent America’s Fortune 100, the Council represents a broad, dynamic, and highly influential segment of American business.

“As Vietnam is seen by an increasing number of foreign businesses as the new frontier for trade and investment in Asia,” said Mr Daley, “an in-country presence of the Council is essential to answer the need of our member corporations for business opportunities here”.

About a quarter of the Council’s member companies are operating in Vietnam and the number is expected to rise considerably as others are repositioning their business strategies towards the country.

The inauguration of the Council’s office in Hanoi on November 2 is considered a part of an effort to increase American trade and investment in Vietnam.

The Council is also bringing representatives of top American defense and security corporations on a Southeast Asian tour that will conclude in Hanoi later this week with a meeting with Prime Minister Nguyen Tan Dung and the inauguration of the Council’s office here.

The trade mission aims to create opportunities for dialogue between Vietnamese officials and American defense and security industry leaders. The mission delegation will meet with the Prime Minister, the Ministry of Defense, the Ministry of Public Security and the Ministry of Transport.

With the Permanent Normal Trade Relations status granted to Vietnam recently and US President George W. Bush’s decision last December to remove restrictions on arms transfers to Vietnam on a case-by-case basis as a foundation, Mr Daley described this as an exciting and interesting time for US defense and security companies to visit Vietnam.

This is the third Defense & Security Business Mission the Council has brought to Southeast Asia and the first time to Vietnam.

http://english.vietnamnet.vn/biz/2007/11/752638/