US mission announces recruitment for 2019 SelectUSA Investment Summit

The Investment Summit promotes the United States as the world’s premier investment destination and connects qualified foreign firms with US economic development organisations to facilitate business investment and job creation.

“Investing in the United States is one of the best decisions that Vietnamese firms can make, especially as the country’s economy continues to rapidly expand,” said ambassador Kritenbrink, “As firms benefit from this expansion, they should look to expand into new markets and it is only natural to consider one of Vietnam’s largest export markets, the United States,” he added.

US State Secretary of commerce Wilbur Ross opens the SelectUSA 2018 Summit in Washington, DC. Photo: US Department of Commerce

The US is currently home to more foreign direct investment than any other country in the world, with a total stock of $4 trillion at the end of 2017. The previous five summits alone attracted thousands of international investors and economic development representatives from across the United States.

The US Commercial Service offices in Hanoi and Ho Chi Minh City will once again organise this year’s delegation to the summit.

In early December, the ambassador and consul general will officially launch the 2019 SelectUSA Summit recruitment by hosting luncheons for local investors.

The Ho Chi Minh City luncheon will be in conjunction with a trip to Vietnam by Deputy Assistant Secretary of Commerce for Manufacturing Ian Steff, who is performing the non-exclusive functions and duties of the Assistant Secretary for Global Markets at the International Trade Administration in Washington, DC.

Steff oversees the SelectUSA Summit that has, over the last two years, attracted more than 3,000 attendees including 1,000 business representatives from 66 foreign markets, and economic development organisations (EDOs) from 51 US states and territories, all while announcing more than $98 billion in new investments.

“The United States is the obvious choice for Vietnamese firms looking to grow globally,” said Eric Hsu, Commercial Counselor at the US Embassy in Hanoi.

“There is no more worthwhile event for global business leaders to find growth opportunities than SelectUSA,” Hsu said.

The US Mission to Vietnam will organise “Invest in the USA” seminars this year in Hanoi and Ho Chi Minh City in advance of the summit.

During these programmes, attendees will learn more about the SelectUSA Summit, while being filled in by representatives of EDOs in the United States on investment opportunities and incentives in their respective location. These seminars will provide a glimpse of what to expect during the three-day programme in Washington, DC.

Twelve investors from a variety of industries across Vietnam attended the 2018 Summit. For the second year in a row, Vietnam had the largest delegation from Southeast Asia, with delegates attending seminars covering issues impacting FDI in the United States, including infrastructure, tax reform, deregulation, and advanced manufacturing.