More than 50 U.S. Companies Engage Government of Vietnam on the Heels of Second U.S.-DPRK Summit in Hanoi

(Hanoi) – This week, the US-ASEAN Business Council brought a delegation of more than 50 leading American companies to Hanoi to engage with the highest level of the Vietnamese government on trade and investment opportunities. Coming on the heels of President Trump’s visit to Hanoi for the 2nd U.S.-DPRK Summit, this business delegation is the Council’s largest delegation to any ASEAN nation in its 35-year history, reaffirming U.S. President Donald Trump's praise of Vietnam as "thriving like few places on Earth."

Today, the Council concluded its Vietnam Business Mission with a meeting with Prime Minister Nguyen Xuan Phuc exploring business opportunities and discussing a wide range of issues across key sectors such as the digital economy, agriculture, health, energy and manufacturing. In addition to the Prime Minister, the delegation also met with Head of the Party Central Economic Commission and Politburo Member Nguyen Van Binh, Vice Chairman of the National Assembly Phung Quoc Hien, Minister of Finance Dinh Tien Dung, Minister of Public Security General To Lam, Minister of Culture, Sports and Tourism Nguyen Ngoc Thien, Minister of Natural Resources and Environment Tran Hong Ha, Minister of Transportation Nguyen Van The and
 leaders of other key Ministries and State agencies over the course of three days.

The mission was led by Alexander Feldman, President & CEO of the US-ASEAN Business Council, Ambassador Michael Michalak, Senior Vice President & Regional Managing Director of the US-ASEAN Business Council and Jocot De Dios, CEO of GE Philippines & Managing Director for Government Affairs & Policy of GE Asia Pacific, and Chair of the Council’s Vietnam Committee.

“The strength of our business mission this year, coming just two weeks after President Trump met with the Vietnamese Leadership ahead of his Summit with Chairman Kim in Hanoi, amplifies 25 years of continuous American business engagement with Vietnam since the lifting of the U.S. Trade Embargo in 1994 as well as stable macroeconomic policy and strong economic growth,” said Feldman. “Vietnam continues to be one of the most attractive destinations for investment in the Asia-Pacific region for business, and this can most recently be credited to Prime Minister Phuc’s commitment to improving Vietnam’s business and investment climate, as well as his unrelenting efforts to propel Vietnam’s economy towards global integration through multiple trade agreements including recently ratified Comprehensive and Progressive Agreement for Trans-Pacific Partnership.”

“Throughout our mission this year, a common theme in our discussions with the Vietnamese government was the keen interest to promote innovation and embrace the digital economy,” said Ambassador Michalak. “As former Ambassador to Vietnam, I have witnessed the country’s transformative economic growth over many years. Vietnam’s dynamism and entrepreneurism have been consistent contributors to its rapid growth and will be important enablers of Vietnam’s Fourth Industrial Revolution in the years ahead.”

“The American business community commends the Vietnamese government’s initiative and leadership in facilitating remarkable economic growth, closing 2018 with decade-high 7.08% GDP growth,” said De Dios. “We affirm our full support for the government’s plan to maintain the growth momentum and address structural challenges in the economy while working with businesses to improve the business environment in Vietnam. Through our constructive dialogues over the past three days, our business community will continue to make meaningful contributions towards better trade and investment in Vietnam.”

Today also marks the start of the Council’s annual Health & Life Sciences Industry Mission to Vietnam. This two-day health-focused mission immediately follows the Vietnam Business Mission and will engage the Ministry of Health and other government agencies to discuss how businesses can continue to support the government’s effort to strengthen healthcare in Vietnam. Feldman and Ambassador Michalak will stay in Hanoi to lead this mission with Son Pham, CEO of GE Vietnam and Country Manager of GE Healthcare Vietnam, a Co-Chair of the Council’s Health & Life Sciences Committee.

“On behalf of U.S. businesses in the health sector, GE Healthcare would like to congratulate Vietnam and the Ministry of Health on its recent initiatives to improve its regulatory system and make healthcare more accessible to patients across Vietnam,” said Pham. “As long-term partners of Vietnam, we have devoted our work to bettering the lives of the Vietnamese people and improving health outcomes in Vietnam.”

The delegation will meet with the Ministry of Health, the National Assembly Committee on Social Issues, Vietnam Social Security, and Vinmec International Hospital. The mission will also include the Fourth Joint Working Group Meeting with the Ministry of Health (MOH) as part of the Council’s Memorandum of Understanding with MOH.

Companies participating in the Vietnam Business Mission include 3M, AES, Agoda, AIG, Amazon, American Express, Apple, AstraZeneca, AT&T, Baker & McKenzie, Bay Global Strategies, Bayer, Citi, Coca-Cola, Dow, Energy Capital Vietnam, ExxonMobil, FedEx, Ford, GE, Google, Herbalife Nutrition, HP Inc, IBM, Intel, JP Morgan, JUUL, Kimberly Clark, Mastercard, MetLife, Microsoft, MSD, Mylan, Netflix, Nike, PayPal, P&G, Qualcomm, Salesforce, Suntory PepsiCo, Syngenta, UPS and Visa.

Companies participating in the Health & Life Sciences Industry Mission include 3M, AstraZeneca, Bay Global Strategies, BD, Boston Scientific, GE Healthcare, GSK, Johnson & Johnson, MSD, Mylan, Novartis, Pfizer, Sanofi, and Varian Medical Systems.

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For 35 years, the US-ASEAN Business Council has been the premier advocacy organization for US corporations operating within the dynamic Association of Southeast Asian Nations (ASEAN). Worldwide, the Council's 160+ membership generates over $6 trillion in revenue and employ more than 13 million people. Members include the largest US companies conducting business in ASEAN and range from newcomers to the region to companies that have been working in Southeast Asia for over 100 years. The Council has offices in: Washington, DC; New York, NY; Bangkok, Thailand; Hanoi, Vietnam; Jakarta, Indonesia; Kuala Lumpur, Malaysia; Manila, Philippines; and Singapore.

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For 35 years, the US-ASEAN Business Council has been the premier advocacy organization for US corporations operating within the dynamic Association of Southeast Asian Nations (ASEAN). Worldwide, the Council's membership, more than 160 companies, generate over $6 trillion in revenue and employ more than 13 million people globally. Members include the largest US companies conducting business in ASEAN, and range from newcomers to the region to companies that have been working in Southeast Asia for over 100 years. The Council has offices in: Washington, DC; New York, NY; Bangkok, Thailand; Hanoi, Vietnam; Jakarta, Indonesia; Kuala Lumpur, Malaysia; Manila, Philippines; and Singapore.