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To date, the United States ranks 10th out of 49 countries that are invested in Binh Duong province.
Binh Duong is considered to have one of the best infrastructure facilities in Vietnam, thus attracting more than $740 million USD from American investors. The majority of projects are with hi-tech or environmentally-friendly corporations such as P & G Company and Colgate Palmolive Company.
P&G is one of Vietnam’s top consumer goods providers. The company has built three large-scale factories in Binh Duong with total investment capital of $360 million USD.
According to U.S. investors, Binh Duong is appealing due to the strong infrastructure as well as the copious workforce and flexible leaders.
The growth of U.S. investment in Binh Duong is expected to improve export goods moving into the U.S., as well. Key exports from Vietnam include garment-textiles, footwear, furniture and pottery. At the beginning of 2016 Vietnam’s garment and textile export value into the U.S. reached approximately $11 billion USD. The U.S. has become Vietnam’s largest footwear export market since export value reached $4 billion USD. Diverse goods have helped Vietnamese exports prosper in American markets.
Vietnam becomes Canada’s top ASEAN trade partner
According to Canadian government reports, Vietnam remained Canada’s top ASEAN trade partner in the first three quarters of 2016. Findings from Canada’s national statistic agency revealed that trade turnover between the two countries reached $3.062 billion USD, the highest out of 10 ASEAN countries, and a strong lead compared to second place Thailand with $2.229 billion USD.
Hoang Anh Dung, the trade representative for Vietnam in Canada, stated that in the first nine months of 2016, Vietnam was Canada’s fifth largest Asian trade partner after China, Japan, South Korea, and Taiwan.
The total export turnover from Vietnam to Canada is $2.757 billion, which has increased by 14.8 per cent. However, Canadian imports are $350 million ̶ a drop of 26.8 per cent from last year.
Key Vietnamese exports to Canada include machinery, electronics, footwear, textiles, furniture and accessories. Canada’s main exports to Vietnam are seafood, soy beans, fertilizer, machinery, and fur.