November 7, 2007 -- A business representative joining the first-ever US trade mission to Vietnam from November 4-8 has said that Vietnam is ripe with opportunities for US businesses. "This is an excellent visit from a business standpoint, watching the access that our government officials have gained here, it is very impressive", Vice President for Strategic Development Bruce M. Quinn from the Rockwell Automation company said.
During the first half of the trip to Vietnam, the US business representatives had an opportunity to meet with Vietnamese leaders and senior officials from some ministries. "This is excellent access and very clear that it is because the Vietnamese Government is very interested in continuing to open up, continuing to encourage foreign investment here", Quinn said. For a leading provider of factory automation like Rockwell Automation, Vietnam is an attractive market with high economic growth rate and industrial production growth of around 18 per cent.
"Vietnam has captured the attention of every business executive around the world today, the numbers speak for themselves, its economic growth is significant", the Rockwell Automation senior executive said, adding increased investment in special industrial zones and industrial parks in Vietnam are among the many factors enticing investors to the country. "The infrastructure is growing at a pace that will make businesses happy", Quinn said in response to questions on infrastructure concerns.
Envisioning chances for prosperity in Vietnam, Quinn reaffirmed Rockwells long-term strategy is to continue supporting global investors in Vietnam. The firm is also planning to cooperate with some Vietnamese universities and will probably invest in a manufacturing plant in Vietnam.
Earlier, US Secretary of Commerce Gutierrez had informed the Vietnamese media that the delegation's visit is expected to tighten US-Vietnam relations, especially in the economic field and to help boost US exports to the Southeast Asian market. Addressing the dubbed Vietnam-US relations: a new development dynamic phase conference in Hanoi on November 6, US Counselor for Economic Affairs in Hanoi Alan Tousignant said Vietnam is still an attractive destination for US businesses despite remaining concerns that need to be further worked on related to the legal framework and building capacity for legal implementation. US firms are on the move and are positioning themselves for expansion into Vietnam's market as it continues to open and integrate with the world economy, Tousignant said.
Source: Asia Pulse
