Hanoi: Vietnam is on the verge of seeing a massive influx of investments from the US, and stands ready to welcome the wave.
The Suntory PepsiCo Vietnam Beverage Company recently broke ground for its largest and most modern factory in the Asia Pacific region at the Huu Thanh Industrial Park in the Mekong Delta province of Long An.
Covering nearly 20ha, the 300-million-USD factory will be operated by renewable energy such as biomass fuel and solar energy, and launch products with packaging made from 100% recycled plastic. Once completed, it will have an annual output of 800 million litres, helping enhance the company’s ability to meet consumer needs and strengthen its leading position in the Vietnamese market.
Pepsico proposed the project to Prime Minister Pham Minh Chinh while joining the US-ASEAN Business Council (USABC) delegation to visit Vietnam and seek investment opportunities there last month.
Along with Pepsico, many other investors have expressed their interest and confidence in the Vietnamese market’s potential, including Energy Capital who wants to develop Long Son port in Ba Ria Vung Tau province and LNG project in Binh Thuan province, and global energy company AES who is preparing for the Son My combined cycle gas turbine power plant.
In a working session with Minister of Planning and Investment Nguyen Chi Dung during the USABC’s visit, renowned firms like Ford, Boeing and Viatris showed their strong commitment to continuing investment in Vietnam.
They said they have injected more than 1 billion USD into Vietnam through large corporations like VinGroup and Masan, and will seek further investment opportunities in the country.
Most recently, leaders of Rosen Partner said the group wishes to expand investment in Vietnam in the areas of realty and tourism while meeting with Deputy Prime Minister Le Minh Khai in the US.
More investments are likely to come in the areas of high technology, semiconductor and AI as US corporations said they will pour billions of US dollars into Vietnam in the fields.
