According to the Foreign Investment Department under the Ministry of Planning and Investment, the US has invested US$2 billion in Vietnam. The figure will rise to US$3 billion if it includes investments from third countries. With its level of investment, the US now ranks seventh among 74 countries and territories having investment projects in Vietnam. The signing of the Vietnam-US Bilateral Trade Agreement in 2001 has contributed to attracting direct investment from US businesses to Vietnam.

Director of the Foreign Investment Department Phan Huu Thang, Japan ranks first among foreign investors in Vietnam with a valid capitalization of US$4.7 billion. In an effort to boost bilateral cooperation relations, Vietnam and Japan agreed to implement the Vietnam-Japan Joint Initiative on enhancing the competitiveness of Vietnam’s investment environment. The effective implementation of the joint initiative, as well as the signing of the agreement on investment liberalization, promotion and protection between the two countries will open up new prospects for investment cooperation between Vietnam and Japan in the near future.

Mr Thang added that in the coming period, Vietnam will accelerate its investment promotion with other APEC member economies, including Papua New Guinea, Mexico, Chile and Peru, which have not had any investment projects operating in Vietnam.