US State promotes investment in Vietnam
A high-level trade mission from the US state of Idaho recently
visited Ho Chi Minh City to promote trade and investment activities in Vietnam
and the southern economic hub in particular.
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| Director at Idaho Department of Commerce Megan Ronk answers reporters' queries at a press conference |
This is the third working visit of the state to Vietnam over the last nine years, according to Cong Thuong (Industry & Trade) newspaper.
Speaker
of the Idaho House of Representatives Scott Bedke said the mission includes 15
businesses operating in cultivation, dairy production, and breeding. He added
that the US firms see huge cooperation opportunities in Vietnam.
Idaho
has strengths in agricultural and food production, hi-tech industries, and
semi-conductor industry. In 2016, Idaho exported US$11.35 million worth of
goods to Vietnam, up 55% year-on-year. Director at Idaho Department of Commerce
Megan Ronk said many businesses from the state have upwards of 10-year-old
working relationships in Vietnam. She said that Idaho is the
biggest dairy producer in the US with 25,000 farms In the last two
years, Vietnamese dairy companies and farms have imported more than 8,000 milk
cows from the US’s western states, including Idaho. Therefore, Idaho wants to
seek more cooperation opportunities and share development experience with
Vietnamese businesses.
The
state’s government is also accelerating activities to draw foreign direct
investment from Vietnam, she said.
She
noted that projects worth US$500,000 or more and generating jobs for at least
10 workers are eligible to enjoy the state’s incentives.
Source VNA
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