Thai Nguyen makes case in US for trade, investment

Presented by the Committee in collaboration with the Vietnam Chamber of Commerce and Industry, Mr Tam and other speakers addressed a capacity crowd of industry executives interested in learning more about the business climate of Vietnam.
Mr Tam told the audience that the province of Thai Nguyen had a comparative advantage in mining and agriculture and was specifically interested in locating high-tech investment partners in these areas.
He also talked extensively about the opportunities in the clothing and textile industry in Vietnam, particularly as it relates to raw material producers and intermediate goods manufacturing in light of the Trans Pacific Partnership (TPP) and other free trade agreements in the offing.
The TPP involves 12 countries: the US, Vietnam, Japan, Malaysia, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru. It aims to deepen economic ties between these nations, slashing tariffs and fostering trade to boost growth.
The pact could create a new single market something like that of the EU, he said, noting the 12-nation would-be bloc is already responsible for 40% of world trade.
Russell K. Statman, a US FDA regulatory compliance expert, in turn talked in depth with the executives about the legal implications of trade and investment with Vietnam, touching on the key differences in laws and regulations between the two nations.