Importance of US companies in Vietnam far beyond mere FDI statistics: business council
Statistics on foreign direct investment (FDI) announced by the Vietnamese government do not fully reflect the importance of U.S. companies to the country’s economic and export growth, said a representative of the U.S.-ASEAN Business Council (USABC).
Some American investments in Vietnam come under legal entities in a third country, said Vu Tu Thanh, deputy regional director, chief representative of Vietnam, USABC, at a press meeting on Monday, in response to a question by The Investor.

From left: Vu Tu Thanh, deputy regional director, chief representative of Vietnam, USABC; Ted Osius, president & CEO, U.S.-ASEAN Business Council; Marc Knapper, U.S ambassador to Vietnam; Reta Jo Lewis, U.S. EXIM Bank's president and chair of the board of directors; Sarah Morgenthau, special representative, Office of Commercial and Business Affairs, U.S. Department of State, at a press briefing in Hanoi, March 18, 2024. Photo by The Investor/Minh Anh.
U.S. companies often invest in the form of value chains, which is not reflected in statistics provided by Vietnam’s investment ministry. They do not directly bring money into Vietnam, but request their suppliers, mostly in the fields of electronics, footwear, and garments, to set up production facilities and hire laborers in Vietnam, Thanh explained.
These suppliers generate dozens of billions of USD in exports from Vietnam, he added.
“The importance of U.S. companies to Vietnam’s economic growth and exports is far beyond the accumulative FDI statistics,” Thanh asserted.
Ted Osius, president & CEO, U.S.-ASEAN Business Council, noted that some U.S. companies make investments in Vietnam through Singapore, like Pepsi and Coca-Cola.
“There's a certain amount of investment that goes through other countries for very good solid business reasons, but American investment does continue to grow in Vietnam,” Osius affirmed.
Osius is leading a business delegation on a fact finding trip to Vietnam on March 19-21, comprising about 50 companies in multiple fields, making it the largest of its kind since the two countries double upgraded their relationship to a comprehensive strategic partnership last September.
He declined to elaborate on possible deal announcements during the trip, but said that those companies are interested in doing more business in Vietnam. “I'm optimistic that the relationship and the investment will continue to grow.”
Data from the Ministry of Planning and Investment shows that the U.S. was the 10th largest investor in Vietnam as of 2023, with 1,336 valid projects worth $11.83 billion. In the first two months of this year, American firms invested $5.6 million in the country, down more than 50% year-on-year.
- Read More
PVFCCo - Phu My, PVOIL sign strategic cooperation agreement in services, trade, and chemicals
Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo - Phu My) and Petrovietnam Oil Corporation (PVOIL) on Wednesday signed a strategic cooperation agreement, marking the beginning of a comprehensive, multi-sector collaboration between the two members of state-owned Petrovietnam.
Companies - Thu, June 12, 2025 | 7:56 pm GMT+7
Vietnam's Minister of Trade suggests Walmart build 'strategic purchasing center'
Vietnam's Minister of Industry and Trade Nguyen Hong Dien has suggested the world's biggest retailer Walmart "research and build a strategic purchasing center" in the Southeast Asian country.
Economy - Thu, June 12, 2025 | 5:48 pm GMT+7
French giants seek to join nuclear power, high-speed rail projects in Vietnam
Major French corporations on Wednesday proposed engaging in nuclear power and high-speed rail projects in Vietnam, as well as cooperating in aerospace development while meeting with Prime Minister Pham Minh Chinh in Paris.
Economy - Thu, June 12, 2025 | 3:55 pm GMT+7
Three outlets of C.P. Vietnam fined for food safety violations
Three CP Fresh Shop outlets operated by Thailand-invested C.P. Vietnam in the southern province of Soc Trang have been fined a total of VND105 million ($4,100) for food safety violations.
Companies - Thu, June 12, 2025 | 3:19 pm GMT+7
Vietnam's parliament okays cutting number of provinces and cities from 63 to 34
The National Assembly, Vietnam's legislature, on Thursday passed a resolution that will reduce the country's number of provinces and cities from 63 to 34, effective immediately.
Economy - Thu, June 12, 2025 | 11:49 am GMT+7
Two French aerospace giants aim to expand presence in Vietnam
France’s Aerospace groups Airbus and Safran on Wednesday expressed their wish to expand operations in Vietnam and proposed collaboration initiatives with the Vietnamese Government and businesses.
Economy - Thu, June 12, 2025 | 10:27 am GMT+7
What’s driving ambitious business plan of Vietnam's major developer Phat Dat?
Phat Dat Real Estate Development Corp (HoSE: PDR), a major developer in Ho Chi Minh City, aims for revenue of up to VND3.3 trillion ($126.8 million) this year, four times higher than in 2024.
Real Estate - Thu, June 12, 2025 | 8:49 am GMT+7
Indonesia partners with Japan’s SMBC to boost exports
Indonesia’s Ministry of Trade has partnered with Japan’s Sumitomo Mitsui Banking Corporation (SMBC) to expand exports, particularly in high-quality and sustainable products.
Southeast Asia - Wed, June 11, 2025 | 9:39 pm GMT+7
Netherlands to invest $300 mln in Indonesia
The Netherlands has prepared an investment of IDR 4.89 trillion ($300 million) to support various programs currently being implemented in Indonesia, according to the Indonesian Chamber of Commerce and Industry (Kadin).
Southeast Asia - Wed, June 11, 2025 | 9:36 pm GMT+7
Singapore-based Jetstar Asia to cease operations from July 31
Singapore-based low-cost airline Jetstar Asia will cease operations from July 31 as part of a “strategic restructure” by its parent company, Australian flag carrier Qantas.
Southeast Asia - Wed, June 11, 2025 | 9:33 pm GMT+7
Indonesia aims to stop corn imports in 2026
Indonesian President Prabowo Subianto has revealed that Indonesia is targeting to stop importing corn from 2026 when it is hoping to achieve self-sufficiency in corn production.
Southeast Asia - Wed, June 11, 2025 | 8:48 pm GMT+7
Nickel extraction threatens archipelago tourism in Indonesia
A nickel mining project in Raja Ampat, Indonesia has raised significant environmental concerns due to its potential to harm the archipelago’s ecotourism industry.
Southeast Asia - Wed, June 11, 2025 | 8:43 pm GMT+7
Vingroup forms consortium with VinEnergo to develop LNG-fueled power plant in northern Vietnam
Vingroup, Vietnam's leading private conglomerate, will join a consortium with VinEnergo, an energy firm majority-owned by billionaire Pham Nhat Vuong, to invest in a 4,800MW LNG-fueled power project in the northern port city of Hai Phong.
Energy - Wed, June 11, 2025 | 5:49 pm GMT+7
Techcombank wins Gold for Innovation in Cross-Media Marketing at 2025 Asia-Pacific Stevie Awards
Techcombank has reaffirmed its position as a leading banking brand in Vietnam by Brand Equity Index (BEI), achieving the highest score in the Vietnamese banking industry for a second consecutive quarter in Q1/2025, according to market research firm NielsenIQ.
Companies - Wed, June 11, 2025 | 5:22 pm GMT+7
Tech giant Qualcomm launches AI R&D center in Vietnam, its third outside US
Qualcomm on Tuesday launched an AI research & development (R&D) center in Vietnam, after acquiring a 65% stake in AI company MovianAI from Vingroup, a leading Vietnamese conglomerate, earlier this year.
Industries - Wed, June 11, 2025 | 3:16 pm GMT+7
Vietnam seeks big investments in high tech, renewables, logistics: forum
Vietnam is looking for critical private investments in the sectors of high technology, semiconductors, renewable energy (LNG, hydrogen, electric batteries), logistics, industrial park development, innovation, and digital transformation.
Economy - Wed, June 11, 2025 | 3:05 pm GMT+7