Vietnam - US Business Forum 2019: Los Angeles

On September 30^th, 2019, Dustin Daugherty, Head of North American Business Development, will participate in the Vietnam – US Business Forum 2019 in Los Angeles, California, both presenting on doing business in Vietnam and joining a panel discussion on the topic.

Organized by the Ministry of Industry and Trade of Vietnam, the Vietnamese Consulate General in San Francisco and the LA Mayor’s Office of Eric Garcetti, this forum will explore how US companies can do business with Vietnam.

The Forum offers:

- Business insights into the latest developments in the Vietnam economy, government policies, and incentives for foreign investment in Vietnam

- Opportunities to meet directly with potential Vietnamese business partners, including buyers

- An informative first-hand case-study from an LA company currently doing business in Vietnam

Why Vietnam?

- GROWTH: Vietnam continues to be one of the fastest growing economies in Asia. The country’s economic growth is underpinned by rising consumption, increased foreign direct investment, robust export performance, deeper integration into the global economy and improvements in its infrastructure and regulatory framework. 

- PREFERENTIAL TARIFF RATES: The country is strongly positioned to benefit from numerous free trade agreements that are coming into force such as the EU-Vietnam Free Trade Agreement (EVFTA), ASEAN Economic Community (AEC), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Agreement between Vietnam and Japan for an Economic Partnership (VJEPA), and Free Trade Agreement between Vietnam and Korea (VKFTA).

- INFRASTRUCTURE AND CONSUMER MARKET: Vietnam is a large market for capital goods and a growing domestic market for consumer goods, as well as an ambitious program of major infrastructure developments, including new urban railway networks, a new international hub airport and the expansion of regional airports. 

- MANUFACTURING: Vietnam’s proximity to China makes it attractive as a China plus one destination. By situating manufacturing centers close to traditional hubs in mainland China, investors can reduce costs with limited interruptions or delays to existing supply chains.

- CONNECTIVITY TO LA: Two-way trade between Vietnam and the US was $58.89 billion in 2018. Nearly 37%, or $21.7 billion, of all US-Vietnam trade went through the Los Angeles Customs District making Los Angeles the #1 gateway for trade with Vietnam. Top US export categories being agricultural products, computer and electronic products, food manufactures and chemical. Meanwhile, top imports from Vietnam included apparels, computer and electronic products, leather goods, and furniture.

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