More than 15 aircrafts will bring a large number of US businesspeople to Vietnam later this year to attend the Asia-Pacific Economic Cooperation (APEC) Chief Executive Officer (CEO) Summit 2006, scheduled to take place on November 17-19, local media reported.
On this occasion, the biggest US business delegation ever to visit Vietnam will seek opportunities to multiply their money in the developing country.
The delegation is expected to include CEOs of the US’s top corporations such as Boeing, FedEx, GM, AIG, Microsoft, Citigroup, DHL, AT&T, and HSBC.
According to US Senator Max Baucus, “the time has come for US exporters to reap the benefits of Vietnam’s burgeoning market of 84 million consumers, before others beat us to it”.
Vietnam's economic attractiveness also has been boosted, said Microsoft Corp. founder Bill Gates in April, stressing that Vietnam has the potential to develop into an outsourcing center similar to India.
Moreover, Vietnam has supported a huge market, low-priced resources, positive policies, political stability and many other incentives to investors.
Vietnamese businesses, on the other hand, are also expected to take this good opportunity to publicize their images and potentials in order call on investment from the international investors, chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said on August 28.
Vietnam-US trade rose from US$451 million in 1995 to $6.4 billion in 2004, boosted by a bilateral trade agreement signed in 2001 and it seems to witness an eruption of investment from US as Vietnam becomes the World Trade Organization member and is granted Permanent Normal Trade Relations(PNTR) status late this year.
The APEC CEO Summit is the second most important event after the APEC Leaders Meeting.
The APEC region which has a total population of 2.5 billion, an annual GDP revenue of $19 trillion, and making up 47 per cent of the total global import-export value, is the main trading and investment partner of Vietnam. It accounts for 60 per cent, 80 per cent and 65 per cent in Vietnam's total exports, imports and FDI respectively.
APEC 2006 in Vietnam is scheduled to comprise of around 100 meetings with the participation of tens of thousands State leaders from Asia and America, which are considered the two most dynamic economic regions in the world.
Vietnam will spend VND350 billion (around US$22 million) for the APEC meetings held for the first time in the nation this year, expecting to take the precious chance to introduce itself to the outside world.
Vietnam Economic Times
Vietnamese
