According to the latest report, as more U.S. investment capital flows into Vietnam, the Southeast Asian nation is expanding its influence in global supply chains. Many U.S. companies are announcing new investments in Vietnam in 2021 despite the impact of the outbreak.
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For example, Intel made an additional $475 million to Intel Products Vietnam. Ford also plans to increase production capacity and recruit more workers in Vietnam.
Moreover, the United States has seen Vietnam as a key part of its global supply chain. More and more U.S. money is flowing into Vietnam’s digital economy, green energy, and healthcare.
American companies that have invested or plan to invest in Vietnam include 3M, Amway, Apple, Bank of America, Boeing, Exxon Mobil, Google, Medtronic, Netflix, Nike, Roche, UPS, and Visa.
At the same time, GE, Cantor Fitzgerald, DeLong, Valero, AGP, UPC also plan to increase their shares in Vietnam. The Vietnamese government is also increasing support for entrepreneurship and new ventures.
For U.S. companies, Vietnam has become a foothold for producing value-added products, rather than low-value products as in the past. Since Vietnam and the U.S. re-established diplomatic relations in 1995, bilateral trade between the two countries has increased from $450 million to $11.11 billion in 2021, according to the General Statistics Office of Vietnam.
