US businesses select Can Tho as one of their future partners

The United States is a leading trading market of Vietnamese agricultural and aquatic products. In the context of currently effective free trade agreements, the removal of non-tariff barriers has created great opportunities for businesses in Vietnam and the Mekong Delta region to connect and create investment incentives, with the goal of bringing agricultural products from the Mekong Delta to the US market.

At a recent meeting with Ms. Susan Burns, Consul General of the United States in Ho Chi Minh City, Mr. Nguyen Van Hong, Vice Chairman of Can Tho City People's Committee, said that the city is constantly trying to its cooperative network with domestic and foreign partners, whereas the United States is a major companion.

Statistics show that Can Tho's export turnover to the US market reached over 147 million USD in the first 10 months of 2022. Can Tho's exported products include: rice, seafood, agricultural products and processed agricultural products, garments, handicrafts, steel, iron and steel products. In addition, the city's import turnover from the US market was estimated at 1.69 million USD, with the main commodity being pharmaceutical materials, agricultural pharmaceuticals, and veterinary drugs.

Can Tho city is currently deploying 3 projects with direct investment capital from the United States. They are: the project of designing and manufacturing machines for industrial and agricultural production, with a registered investment capital of nearly 667 thousand USD; the Cargill Vietnam Co., Ltd. Branch project in Can Tho, with a registered investment capital of 8 million USD; the 20,000 MT Animal and Vegetable Oil Export Project, with a registered investment capital of 900,000 USD.

Can Tho City signed a cooperation agreement with Riverside City in 2015, in the US state of California and in the fields of health, agriculture, education and training. Furthermore, a memorandum of understanding on promoting trade and investment cooperation was signed between the two cities, opening up great trade and economic cooperation opportunities for the Mekong Delta region.

In order to strengthen the cooperation relationship between Can Tho City and the United States, Mr. Nguyen Van Hong hopes that Ms. Susan Burns would act as a bridge and introduce Can Tho city to US businesses regarding the city's strengths, potential as well as policies to attract investors. In addition, he wishes for her cooperation in supporting, coordinating and organizing promotional activities, calling for US businesses to invest in the fields of processing, tourism and other strong areas of Can Tho.

Many agricultural and aquatic products from the Mekong Delta have been exported to the US market. However, compared to other Asian countries such as Thailand and India, Vietnam's export is still modest. Understanding the investment regulations in the US is an important step in helping Mekong Delta businesses promote investment and successfully connect trade with US partners. Through this meeting, Can Tho city asked the US partner to assist in providing information on US businesses' strengths, markets, trade barriers as well as their culture and business experience.

It is also necessary to organize US business delegations to visit and learn about investment and trade promotion opportunities in Can Tho City. Thereby, businesses in the Mekong Delta will have the opportunity to call on US businesses' investment in large projects in Can Tho City, with emphasis on the fields of logistics, information technology, education - training, and tourism.

Ms. Susan Burns highly values of the strong cooperative relationship between Can Tho City and US partners over the past few years, namely between Can Tho City and Riverside City. Ms. Susan Burns commented that, as the center of the Mekong Delta region, Can Tho city has great potentials to strongly develop health, education and training infrastructure, develop renewable energy sources, and adapt to climate change. Consequently, the US partners have identified Can Tho City as one of their main business targets.