The Can Tho Branch of the Vietnam Chamber of Commerce and Industry (VCCI Can Tho) recently hosted a meeting with the Arkansas Economic Development Commission, the United States. This event was a good opportunity for Vietnamese enterprises, especially Mekong Delta-based ones, to boost trade with Arkansas enterprises.
Nguyen Thi Thuong Linh, Deputy Director of VCCI Can Tho, stressed that Mekong Delta is the major food producer of Vietnam. Can Tho City is one of localities with favourable geographic, economic conditions and with huge potentials and resources to lead the development of the entire region. The meeting with the commission will create strong momentums for closer and stronger cooperation with Arkansas in particular and with the US in general.
Arkansas is an American state whose economy started from agriculture. Located in the southwest with warm climate and no snow, Arkansas is a good place for Asian businesses to invest. The transport infrastructure is favourable, with more than 1,000 miles of highways running along the Mississippi River and Gulf of Mexico. It is very easy to reach major trade centres, northern region and all over the US. Arkansas has Menphis International Airport and railway system connected with other states. Arkansas is ready to welcome all businesses to do business there.
In addition, Arkansas is one of four states with the lowest business costs in the US. It ranks fourth in low cost business, ninth in low tax rate and ninth in high manpower quality. Besides, Arkansas has the highest rate of agricultural employment in the US and has a good balance in agricultural and industrial production. Especially, the state applies one-stop source administrative procedure and provides free supports for investors. It also helps enterprises to pick up suitable locations for their projects and provides advice concerning tax and incentives. The Can Tho Department of Natural Resources and Environment and the Department of Planning and Investment are coordinating with the Arkansas Economic Development Commission in business support.
Representing the Arkansas Economic Development Commission, Mark Hamer, Project Director of Asian Global Business Development, the Arkansas Economic Development Commission, said that bilateral cooperation potentials of the both sides are very huge. Arkansas currently has 148 foreign companies employing 24,000 employees while it has less than 3 million residents. Foreign investors come from Germany, Japan, India, Denmark, France and Vietnam, of which Germany has 29 investors - the biggest, and Vietnam has just only one. Arkansas is ready to welcome all businesses to invest here, especially long-term investment projects in food processing, steel, petrochemical, wind power and information technology. Arkansas will give support with its best for investors from the time they come until the time they leave. Labour-intensive projects are given better credit and land preferences than other states.
Mark Hamer added that the Arkansas Economic Development Commission is a federal agency in Arkansas, functioned to develop Arkansas economy and create targeted strategies like employment, pro-community support, training support and workforce development skill. As the Director of Project Director of Asian Global Business Development, he will try his best to promote cooperation between Arkansas enterprises and Mekong Delta businesses in particular and Vietnamese enterprises in general.
With its business and investment experience in Arkansas, Vinh Long Production, Business Export and Import Joint Stock Company, advised Vietnamese companies with an intention of cooperation, investment and market expansion in Arkansas, they need to carry out surveys on market demand there. They also seek advice from lawyers to understand more about this market and its laws to avoid and deal with future problems.
Thu Ha
Vietnamese
