SpaceX, Netflix, Boeing to join “greatest-ever” US business enterprise mission to Vietnam

By Francesco Guarascio

HANOI (Reuters) – SpaceX, Netflix and Boeing are amongst the corporations joining the “greatest-ever” U.S. business enterprise mission to Vietnam subsequent week to talk about investment and sales possibilities in the booming Southeast Asian nation, the organiser stated.

A lot more than 50 corporations, like defence, pharmaceutical and tech firms, will participate in the mission organised by the US-ASEAN Small business Council, an market physique, according to a list observed by Reuters.

The delegation is a sign of increasing interest in the international manufacturing hub, which is benefiting from a shift away from China amid Sino-U.S. trade friction.

Vietnam, with a population of one hundred million persons, also has a swiftly-increasing customer marketplace as its middle class expands.

“This is the greatest-ever mission in Vietnam,” stated Vu Tu Thanh, the US-ASEAN Small business Council’s representative in the nation, noting that the physique had been organising these events for 3 decades.

Streaming giant Netflix, which Reuters final month reported was organizing to open an workplace in Vietnam, is amongst the corporations joining the trip. Netflix did not respond to a request for comment.

Aerospace producers Boeing, Lockheed Martin and Bell will hold meetings with state-owned Vietnamese defence procurement corporations, Thanh told Reuters, adding that it was the very first time in about a decade that safety firms had decided to join the annual mission to Vietnam.

In December, the identical corporations held talks with Vietnamese government officials about the probable sale of helicopters and drones, as the nation seeks new suppliers and the Ukraine conflict strains the capabilities of Russia, for decades Vietnam’s key military companion.

“Helicopters is 1 of the items the corporations hope to sell to the Vietnamese,” Thanh stated, while he cautioned that defence offers took time to be completed and no instant breakthrough was anticipated.

Boeing stated in a statement that its discussions with officials would concentrate on its increasing partnership with Vietnam and approaches to strengthen the country’s aviation and defence capabilities.

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Lockheed Martin and Bell did not respond to requests for comment.

The majority of the corporations joining the business enterprise mission currently have a business enterprise or manufacturing presence in Vietnam, like Apple, Coca-Cola and PepsiCo, Thanh stated, with some organizing to expand it.

Some corporations are also coming to get a much better sense of the political circumstance right after current turmoil in the Communist-Celebration led nation, like the resignation of the president in January, Thanh added.

Participants will have meetings with Vietnam’s leading political and regulatory leadership, like with Prime Minister Pham Minh Chinh.

Thanh stated some corporations had been interested in Vietnam as a manufacturing hub and in supplying solutions to increasingly wealthy customers at a time when financial development reached far more than eight% final year.

Amongst them is SpaceX, which is hunting to sell its satellite world-wide-web solutions to Vietnam and other nations in the area, Thanh stated. SpaceX did not respond to a request for comment.

The mission will also involve semiconductors corporations, pharmaceutical giants Pfizer and Johnson &amp Johnson, health-related device maker Abbott, monetary firms Visa and Citibank, world-wide-web and cloud corporations Meta and Amazon Net Solutions, the list showed.

(Reporting by Francesco Guarascio Editing by Jamie Freed)

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