Vietnam Calls for More ODA, Investments from U.S.

Vietnam Calls for More ODA, Investments from U.S. 03/08/2010 10:10:00 428

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Vietnamese Minister of Planning and Investment Vo Hong Phuc will make a trip to the U.S. soon to call for more official development assistance (ODA) and investments from the North America nation.


The Tuoi tre newspaper reported Wednesday quoted Phuc as saying that the U.S. pledged US$138.18 million ODA for Vietnam last year, adding that U.S. ranked the third among the investors in the country with a total pledged capital of US$12.21 billion in 2007-2009.


A delegation from the U.S. ADC-HAS Group has arrived in the Southeast Asian country to seek for investment opportunities in airport projects, Phuc added.


Earlier, Frederik Burke managing lawyer of Baker & McKenzie Co. said that more the U.S. companies, especially those operating in manufacturing and services, will expand their operations in Vietnam next years,


Vietnam and the U.S are boosting negotiations on the Trans-Pacific Strategic Economic Partnership Agreement (TPP) which is expected to facilitate Vietnamese small and medium enterprises to better integrate into the global economy, boost their exports, and help increase the inflows of U.S. goods in the Asia-Pacific region.


The U.S. companies have to date invested US$15.71 billion in 539 projects in Vietnam, ranking the 6th among investors making direct investment in the Southeast Asian country.