The trip to Vietnam, sponsored by the Association of Washington Business, has been postponed until later in the year. We’ll provide an update as soon as it is available.
Why Vietnam?
Business & Economy
Top 20 customer of Washington state merchandise exports (2018)
Washington state exports valued at $900 million+ (2018), more than double the previous year
Top-five state merchandise export market: agriculture, food manufactures, waste and scrap, paper, and computer and electronic products
Top-ten market for U.S. food and agricultural products;fastest growing market in the top ten
Fastest-growing middle and affluent class in the East Asia region, with young consumers who are among the most optimistic in the world
Vietnam ranked 8th for imports to Washington (2018)
Foreign Direct Investment (FDI)
FDI exports of $175 billion (US) accounted for 72 percent of total exports in 2018
Attracted $19.1 billion (US) in FDI, a 9.1 percent increase from 2017
FDI in Vietnam in the first five months of 2019 reached a four-year high of $16.74 billion (US)
Nearly 1,400 new projects licensed with a total registered capital of $6.46 billion (US), January – May 2019, up 38.7 percent compared to same period 2018
Out of 19 sectors receiving capital, manufacturing and processing received$10.5 billion (US), accounting for 72 percent of total FDI, followed by real estate with $1.1 billion (US), and retail and wholesale sectors with $742.7 million (US)
Hanoi & Ho Chi Minh City
Total population in Hanoi and Ho Chi Minh City has reached nearly 17 million
Ho Chi Minh City is the largest city in Vietnam with a population of approximately 9 million
Ho Chi Minh City is Vietnam’s economic and financial center, accounting for approximately one-third of the country’s GDP
Hanoi is ranked #15 in the top 25 world destinations, (2019 Trip Advisor Traveler’s Choice Awards)
Sources
- www.export.gov/article?series=a0pt0000000PAuzAAG&type=Country_Commercial__kav
- https://ustr.gov/countries-regions/southeast-asia-pacific/vietnam
- http://fia.mpi.gov.vn/Home/en
- https://www.state.gov/reports/2019-investment-climate-statements/vietnam/
- https://www.tripadvisor.com/TravelersChoice-Destinations-cTop-g1
- http://tse.export.gov/tse/ChartDisplay.aspx