Long An province enhances investment ties with US firms
Long An province enhances investment ties with US firms
A business mission from the southern Vietnamese province of Long An, accompanying Vietnamese President Vo Van Thuong's working trip to attend the ongoing APEC 2023 Summit Week in the United States, met with major US companies to promote investment relations between the two sides.
The provincial mission, led by Nguyen Minh Lam, Deputy Chairman of Long An People's Committee, had a meeting with the San Francisco Chamber of Commerce in California.
Rodney Fong, president and CEO of the San Francisco Chamber of Commerce, provided the Long An delegation with information, focusing on connecting with potential foreign investors in Vietnam and vice versa. He concentrated on new business areas like green and renewable energy development to adapt to global climate changes.
Lam provided information on his province’s socioeconomic conditions, investment environment and plans to draw in foreign investment into the Mekong Delta province.
He emphasised that with the advantage of being the gateway connecting Ho Chi Minh City with the delta region and infrastructure developments, Long An was already a destination for many foreign businesses.
He said the province's import-export turnover in 2022 was $12.2 billion. Of this, the US market exported goods of nearly $469 million and imported Long An products worth of $72.8 million. The main import and export items included industrial products, garments, handicrafts, agricultural products, and food.
Lam expressed his hope that US commercial organisations would actively support Long An in building cooperative relationships with US partners.
Leaders of US trade agencies and investment promotion organisations pledged with the Long An mission that they would help strengthen trade and investment ties between businesses of the two countries
Also in the US, Long An leaders witnessed Long An-based Dong Tam JSC signing an MoU for cooperation with California’s Port of Long Beach.
With the MoU, the two major companies have begun their sister relationship, opening up opportunities for cooperation, sharing experiences in port management and operation and market connection to further increase transshipment performance.
Dong Tam JSC is the investor and operator of Long An International Port in the southern province. Meanwhile, the Port of Long Beach is one of the world's leading seaports, located in southern California, with six container terminals and a total cargo value of over $200 billion per year. It is the number one export seaport in the US.
On August 8, 2023 at Long An International Port, Secretary of Long An Party Committee Nguyen Van Duoc and Dong Tam JSC top executives met with a business mission including government officials and major businesses from the state of California. The visiting mission was led by Sheng Thao, Mayor of Oakland City.
Then, Long An International Port and the Port of Oakland signed an MoU for cooperation.
As an important gateway connecting Ho Chi Minh City with the Mekong Delta, Long An resonates with the spread of industrial and urban development of the major city.
In addition, the province has its strengths in water transportation with seaports and river ports, and has a border of about 134km with Cambodia, together with two border gates to the neighbouring western country.
