Mr. Eric Berg, head of a delegation of 23 companies arriving in Vietnam last week said, “US companies in particular and foreign investors in general share the opinion that if they want to do business in a place, they will visit the place themselves before making any investment decision.”
Mr. Christian Bartley, president of World Trade Centre of Wisconsin, decided to send a group of more than 23 US companies in various industries, led by VIKOA Investment Consultant and Development Company, to Vietnam. He said: “I have heard a lot of good assessments of Vietnamese economic development potential by reliable world groups. However, to find adequate information in the specific fields of US companies is not simple. At present, not many US investment-consulting companies have arrived in Vietnam. I want to visit here myself to explore and seek cooperation opportunities.” Dozens of US importers and exporters stand behind the president of the World Trade Centre of Wisconsin. In Vietnam, the US business delegation met with partners in their desired fields, were arranged by VIKOA.
Mr Bartley also worked with Vietnam’s Bat Trang Ceramics and Porcelain Company and was very interested in Bat Trang handmade products. The US visitors heard a presentation on the Vietnamese stock market. After that, several companies in the group expressed interest to work with VinaSecurities, through VIKOA, to invest in the Vietnamese stock market this year. VinaSecurities, through to invest in the Vietnamese stock market this year.
VIKOA said it received and gave consultancies to 4 or 5 international business delegations since the beginning of 2007. However, the South Korean majority of previous years is replaced by US firms this year. VIKOA added it hopes to receive 4 to 5 more foreign business delegations from now to the year’s end, mainly from the US. Not only VIKOA, but many other companies, centres and trade promotion agencies also plan to receive and organise exchange meetings for foreign investors who want to do business in Vietnam. Such exchanges this year are more numerous than in previous years.
“Before this trend, Vietnamese companies should pay attention to more professional consultancy, trade promotion and information publicity,” Eric Berg added.
In fact, many international investors do not directly open branches, representative offices or factories as foreign companies; instead, they sign contracts with investment consulting companies for partial or whole projects. The US based Lexington Langha is a typical example. This company joined hands with VIKOA to provide consulting and information provision services. Lexington is ready to take over projects for US investors wishing to do business in Vietnam. The company undertakes design, construction and even operation of investment projects. Lexington Langha, VIKOA and Heartland Funds will jointly set up Lexington Langha Fund with initial capital of US$50-100 million, then possibly scaling up for bigger projects. Mr James Kim, founding member of Lexington Langha Fund said, “The fund mainly focuses on the stock market, real estate and capital market in Vietnam. In the near future, we will carry out concentrated projects. Then, if investment flows increase, we will divide the fund into smaller sub-funds for specific fields.”
Mr. Nguyen Viet Ha, general director of VIKOA said, “The opportunities for investment and development consulting companies are open. However, to satisfy the demanding and diversified requirements, apart from a strong professional workforce, companies should cooperate with other partners in investing countries.”
Hai Nam
Vietnamese
