Addressing a discussion at the Vietnam Business Summit on November 7, James Fatheree, Vice-President of the Asia-US Chamber of Commerce (AmCham) held that most American enterprises, during its recent survey, looked at the Vietnam economy through rose-colored spectacles. They held that Vietnam is the best investment cooperation partner in the region and wanted to further find business potential in the market.
Mr. Fatheree added that US President D. Trump decided to withdraw from the Trans-Pacific Partnership (TPP) and focus on bilateral economic cooperation; and that Vietnam is the top priority of American companies in ASEAN, followed by Indonesia and Thailand.
Mr. Craig Katerberg talking with People's Army Newspaper reporter
Regarding experiences in doing business with Vietnam and other APEC member economies, Liam Mallon, President of Exxon Mobil Development Company at Exxon Mobil Corporation, affirmed that Vietnam has a stable and trustworthy investment climate for win-win targets. The country is calling for more foreign direct investment, so it should only build up a favorable investment environment in order to lure international businesses.
For Exxon Mobil, Mallon held that the company pledges to continuously contribute its capability of capital mobilization, techniques, and administration to Vietnam, while suggesting the Vietnamese Government should offer consistent and explicit policies to investors.
Meanwhile, Che Mafni Che Wook, a Malaysian official, sang the praises of the host Vietnam’s initiatives, particularly in developing human resources in the digital age.
Not only Vietnam but also all APEC member economies attach importance to this issue. Furthermore, APEC is focusing on inclusive growth, encouraging the participation of young people in developing their countries, and considering their suggestions and opinions in order to map out the future of APEC. The aforementioned initiative of Vietnam benefits the whole APEC, he emphasized.
Agreeing with Wook’s considerations, a delegate from Papua New Guinea, the next APEC host country, highly appreciated the host Vietnam this year. He said APEC member economies are confronting a number of challenges to reach consensus on trade, investment, globalization, and a regional free trade agreement. Thus, it is an important challenge for the host as it needs to improve their compromise towards the final declaration, he said, adding that Papua New Guinea wants to learn and gather experiences from Vietnam to successfully host the next APEC year.
Participating in the APEC 2017 Economic Leaders’ Week, Phillip Dowler, Head of Campus-Hanoi at RMIT University Vietnam, advocated education reforms in Vietnam, which offer opportunities to international education institutions to approach the local education market. Thus, it helps Vietnamese students enjoy leading international education standards without going abroad.
As for the business sector, Craig Katerberg from Australia's leading brewer, Carlton & United Breweries, revealed that his company is seeking opportunities to expand its business in other localities in Vietnam, apart from Hanoi and Ho Chi Minh City. At present, the brewer has two factories in the Southern Vietnam.
Translated by Van Hieu