US trade promotion chief sees opportunities in Vietnam

The US Assistant Secretary of Commerce for Trade Promotion, Israel Hernandez, says there are huge opportunities in Vietnam for US businesses, especially with the coming visit to US by Prime Minister Nguyen Tan Dung.

The US Assistant Secretary of Commerce for Trade Promotion, Israel Hernandez

Hernandez, who is also Director General of the US and Foreign Commerce Service, told reporters in Ho Chi Minh City on June 19 that the two nations are sharing numerous fresh and promising opportunities in trade.

He said more and more US enterprises have been visiting Vietnam to improve their understanding of the market and they had a positive outlook about prospects for long-term investment in the country.

The US senior trade officer also rejected any impact caused by Vietnam inflation on trade relations between the two countries.

He said the Vietnamese government was working hard, showing their determination and taking firm steps to curb inflation.

Hernandez also said he expected the upcoming visit to the US by Prime Minister Nguyen Tan Dung would help find solutions to issues of mutual concern that are related to a framework agreement on bilateral investment as well as ways to cope with economic deflations and curb inflation.

He also expressed satisfaction at the outcomes of his current visit, saying direct contact with Vietnamese businesses have met expectations of a number of US companies.

He said the meetings have provided US companies with better information on establishing and expanding exports-oriented businesses in leading industries and services such as energy, environment, tele-communications, tourism, transport, education and healthcare.

During their stay in Ho Chi Minh City, accompanying US businesses received clear information on investment policies as well as major socio-economic development projects and programs through face-to-face dialogue with leaders of relevant services, industries and associations as well as municipal businesses.

Hernandez visited the construction site of the Da Phuoc solid waste treatment complex funded by Vietnamese-American David Duong. The project has an investment of more than 100 million USD in the first seven years and is design to treat 3,000 tonnes of solid wastes daily.

Hernandez also chaired an online education conference that connected 12 high schools and universities in the US with 10 representative offices on overseas education in Vietnam.

The forum was part of an education initiative raised by the US embassy with an aim to double the number of Vietnamese students pursuing education in the US by 2010.