According to the organizer, some of the most influential companies, including SpaceX, Netflix, and Boeing, will be participating in the "biggest-ever" US business mission to Vietnam. The purpose of this mission is to explore investment and sales opportunities in Vietnam, which is experiencing significant growth and development in Southeast Asia.
As per Reuters, an extensive group of over fifty companies spanning diverse industries, such as defense, pharmaceuticals, and technology, will take part in the upcoming US-ASEAN Business Council mission to Vietnam. The council, being an established industry body, has arranged this mission as a way for companies to explore investment and sales opportunities in Vietnam, which is currently experiencing growth and development. With a population of over 100 million people, Vietnam also offers a rapidly-growing consumer market as its middle class continues to expand. Vu Tu Thanh, the US-ASEAN Business Council's representative in the country, has remarked that this will be the biggest-ever mission organized by the council in Vietnam, which has been arranging such events for three decades
Netflix, which was reported to be planning to open an office in Vietnam, will be among the companies participating in the US-ASEAN Business Council mission to Vietnam. However, Netflix did not comment on its involvement in the mission.
Boeing, in particular, will be discussing ways to strengthen Vietnam's aviation and defense capabilities through its growing partnership with the country. In December, some of the companies participating in the US-ASEAN Business Council mission to Vietnam, including Boeing, Lockheed Martin, and Bell, held talks with Vietnamese government officials regarding the potential sale of helicopters and drones. Vietnam is currently seeking new suppliers for its military needs due to the strain on Russia's capabilities amid the ongoing conflict in Ukraine. For decades, Russia had been Vietnam's primary military partner. According to Thanh, the representative of the US-ASEAN Business Council in Vietnam, helicopters are one of the items the companies are looking to sell to the Vietnamese. However, Thanh cautioned that finalizing defense deals typically takes time, and there may not be an immediate breakthrough in this regard since there has not had any comment from Lockheed Martin and Bell.
According to Vu Tu Thanh, the representative of the US-ASEAN Business Council in Vietnam, the majority of the more than 50 companies joining the business mission already have an established business or manufacturing presence in Vietnam, such as Apple, Coca-Cola, and PepsiCo, and some are planning to expand it. Thanh also mentioned that some companies are joining the mission to better understand the political situation in Vietnam following recent turmoil in the country. The participating companies will meet with Vietnam's top political and regulatory leaders, including Prime Minister Pham Minh Chinh.
Thanh further stated that some of the companies are interested in Vietnam as a manufacturing hub, as well as providing services to the growing population of wealthy consumers in the country, especially since Vietnam's economy saw over 8% growth last year. In addition to SpaceX, which is seeking to sell its satellite internet services to Vietnam and other countries in the region, the mission will also include semiconductor companies, pharmaceutical giants Pfizer and Johnson & Johnson, medical device maker Abbott, financial firms Visa and Citibank, and internet and cloud companies such as Meta and Amazon Web Services, among others, according to the list seen by Reuters.