US, Europe investors seek investment opportunities in Hue, Da Nang

The US ambassador to Viet Nam, Marc Knapper (centre), visits the ‘US Food and Beverage Showcase’ in Da Nang. — Photo courtesy of USAID

While the Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA), in partnership with the American Chamber of Commerce (AMCHAM) Da Nang, organised the ‘US Food and Beverage Showcase’ to promote US products to the Da Nang business community, Thua Thien Hue also hosted the Meet Green event with the participation of 70 businesses from the US last weekend.

The F&B exhibition in Da Nang, which featured 21 exhibitors who are USDA Cooperators, state representatives, distributors, and manufacturers, was seen as an opportunity to expand the reach of US food products in a key hospitality market as international tourism resumes.

The diverse exhibitors introduced a wide range of US products, including beef, pork, chicken, seafood, potatoes, cheese, raisins, pulses, soy products, apples and more to potential customers in the region.

During his keynote remarks, Ambassador Marc Knapper stated: “Viet Nam is now the 8th largest export market for US food and agricultural products, while the US is Viet Nam’s 39 largest export market. Our total bilateral agricultural trade has more than doubled from over US$4 billion in 2011 to over $9 billion in 2021.”

“This growth in our bilateral agricultural trade also reflects the increasing importance of the overall economic and trade relations between the US and Viet Nam.”

FAS’s Agricultural Counselor, Robert Hanson, emphasised that the event was an excellent example of how FAS and USDA Cooperators promote high-quality US food products to Vietnamese consumers.

He also highlighted the ‘United Tastes’ digital marketing campaign introduced last year.

Hanson stated that the ‘United Tastes brand aims to connect, educate, and inspire Vietnamese consumers about the US's wide range of high-value, high-quality, safe, and healthy products.

AMCHAM and Thua Thien Hue also agreed to boost ties between business from the US and the province to promote Hue as a key economic power in central Viet Nam.

The cooperation deal will help businesses from the province approach technology, investment fund and advanced industries from the US and fund the trend of future green economic growth.

It will focus on creating business meets among the US investors and partners from the province and introducing investment information and a list of possible investment projects in Thua Thien Hue.

The province took chances to offer potential projects and preferential policies for investing in the Chan May-Lang Co Economic Zone and industrial parks in Hue, while an image of the tourism hub will be promoted as a ‘green’ and ‘smart’ urban and a world heritage destination.

Chairman of AMCHAM, John Rockhold, said: “We're very happy to have this event here today and we're very happy that the authority of Thua Thien Hue invited foreign investors from not just the US, but Europe and everywhere to come here.”

“It's straightforward for investors to come here once they heard of Hue going green. Going green and reaching zero carbon is so important now to new companies to set up and establish a business in Viet Nam, which means that they have already set up a policy to reach zero carbon. Going green is so important now for international companies to establish their images. That's why we had no problem bringing a lot of investors here today.”

Despite being badly impacted by COVID-19, Thua Thien Hue maintained Gross Regional Domestic Products growth of 4.36 per cent, earning an export turnover of $1 billion in 2021.

Hue, once the imperial capital in Viet Nam for over 100 years, has been a unique destination in central Viet Nam with its five UNESCO heritage offerings: the ancient citadel relic complex, Hue royal court music, Nguyen Dynasty’s wooden blocks, Nguyen Dynasty’s royal administrative documents, and literature on Hue royal architecture.

The tourism hub in central Viet Nam aims to be a ‘zero plastic waste’ destination by 2030.