Vinh Phuc’s Investment Promotional Seminar in Washington D.C., US on August 15, 2014.

The United States of America (USA) is a country located in North America, sharing a border with Canada and Mexico, and has access to the Northern Arctic through the state of Alaska. Major bodies of water include the Atlantic Ocean on the east coast, the Pacific Ocean on the west coast, the Great Lakes (shared with Canada), and the Gulf of Mexico below the southern state of Texas (shared with Mexico). The US has a natural land area of 9,826,630 km² and a population of nearly 314 Million people (2012 estimate). USA is a multi-ethnic country where Caucasians (White Americans) account for 81.7% of the population and African-Americans account for 12.9%. The nation’s total GDP reached $15,040 Billion USD in 2012, with GDP per capita being $48,100 USD/year. The economic structure is divided into three sectors: services at 76.7%, manufacturing at 22.1%, and agriculture at only 1.2%. Moreover, exports reached $1.511 Billion USD which included agriculture products, organic chemicals, semiconductor technologies, aviation technologies, motorcycle parts, computers, telecommunication equipment, and consumer goods (e.g. automobiles and medicines). The United States’ largest trading partner is Canada followed by Mexico, China and Japan. The US ranks first in the following categories: Highest GDP, highest import turnover, most oil consumption, and FDI (Foreign Direct Investment) attraction; The US ranks second in goods consumption and sea container transportations; and it ranks third in a 2007 study of ‘Favourable Business Environment’ (after Singapore and New Zealand). The nation’s economy is based primarily on the Services industry (Financial services being the most dominant) followed by the Science & Technology industry (which includes computers and other electronics), Real Estate and Medical Care. The United States is also Vietnam’s largest trading partner.

Washington, District of Columbia (Washing D.C.) is a federal administrative district (Federal District) and is the capital city of the US. While it is not a large city, it contains all of the major government buildings. The city also houses many famous sites including Capitol Hill, The White House, the Pentagon, the Lincoln Memorial, and many large national parks. The city is bordered by Virginia to the west and Maryland to the Southeast, Northeast and Northwest. The economy of the city has been built upon commercial services, education, finance, public policy, and investment real estate. The province of Vinh Phuc chose to hold the workshop in Washington D.C. in order to attract investment opportunities from large local businesses. These investments from the American services sector would contribute to the economic reconstruction of Vinh Phuc – where the local services sector is not able to keep up with the development of local industries.

Mr. Nguyen Huy Dung, The Truong-Deputy Permanent Secretary of the Party Committee and Head of Delegation for the National Assembly of the Vunh Phuc province, has spoken at a promotional investment seminar on August 15, 2014 in Washington, D.C.

Mr, Nguyen Huy Dung, Deputy Ambassador of Vietnam in the United States, spoke at the seminar about the current social investment economic environment in Vietnam, as well as how formal Vietnamese-American relations have grown. Mr. Nguyen, The Truong-Deputy Permanent Secretary of the Party Committee and the Head of Delegation for the National Assembly of the Vinh Phuc province, gave a Welcome Speech which pointed out some of the advantages and differences in Vinh Phuc’s environmental policies which would attract investment in the province. Mr. Le Chi Dung, the Commercial Counsellor, discussed the improved business and investment climate in present-day Vietnam. Mr. Tran Hong Ky, the Investment Counsellor, introduced 127 investment projects, including projects for solid waste disposal with a capacity of 300-400 tonnes/day in Vinh Phuc. The Director of the Vinh Phuc Investment Promotion Agency introduced 10 major infrastructure projects for which the province is seeking foreign investment, including: industrial parks, urban universities, sports complexes, hotel and restaurant complexes, eco-tourism zones, high-end entertainment areas and international-reputed hospitals. American businesses that attended the seminar were given a systematic macroeconomic overview of Vietnam, as well as an understanding of the investment and business environment of the Vinh Phuc province.

The Vinh Phuc delegation took pictures with Mr. Nguyen Huy Dung, the Vietnam Deputy Chief of the Mission to the US, on August 15, 2014.

Mr. Nguyen Quoc Cuong, the Ambassador Extraordinary and Plenipotentiary, and Mr. Nguyen Huy Dung, the Deputy Chief of the Mission, received a friendly welcome during their visit to the Vietnamese Embassy in Washington D.C, USA during their delegation for the promotion of investments in the province of Vinh Phuc. The Embassy and the Vinh Phuc Mission exchanged information of mutual interest and agreed to work together in order to increase the cooperation between the Vietnamese Embassy and the United States for the development of the Vinh Phuc province. The Embassy continues to introduce American businesses who are surveying opportunities for investment with the province of Vinh Phuc. For example, the American company Oregon Stage has, as a result of the delegation, proceeded to establish friendly and cooperative relations with the Vinh Phuc province, including high quality training of the Oregon Stage workforce. Moreover, Vinh Phuc has been selected for the “Vietnam-Oregon Cooperation Initiative” event at the University of Portland in 2015.