A focus on high-tech investment and added value is the centre of the new strategy, Photo: Le Toan Adam Sitkoff has been living in Vietnam for many years and has witnessed the strong inflow of foreign direct investment (FDI) into Vietnam over the past decades. As the executive director of the American Chamber of Commerce in Hanoi (AmCham Hanoi), Sitkoff acts as a bridge between US investors and the Vietnamese market, which he sees has great potential, both for high growth and for FDI attraction. “Business activity here started slowly for Americans. In 1995, US-Vietnam trade stood at just $451 million. It will soon hit $60 billion and we now see US investors active in almost every sector of the Vietnamese economy. American companies have invested billions of dollars here, integrating Vietnam into the global supply chain, creating high-quality jobs, and helping the country become more productive, more efficient, safer, and cleaner,” Sitkoff told VIR. According to him, it is important to know that while Vietnam’s official investment statistics rank the US not in the top 10, the truth is that the US is one of the biggest investors in Vietnam. “The misunderstanding comes from complicated US tax laws and… Read full this story
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