The American Chamber of Commerce in Vietnam (AmCham Vietnam) and VBI Fast Track, an organization that offers assistance in quickly promoting business and investment opportunities in Vietnam, on Thursday signed a memorandum of cooperation in Ho Chi Minh City.

Remarking at the event, Ambassador Kritenbrink said the economic relationship between the two countries, already in a really good condition, is expected to become even better and more convenient with the support of VBI Fast Track.

Given the potentials of the friendly bilateral relationship and the hope that the novel coronavirus disease (COVID-19) pandemic will soon be controlled effectively, the U.S. ambassador expected there would more American entrepreneurs coming to invest in Vietnam in the near future.

The Vietnamese government recently announced many policies with the view to attracting foreign direct investment (FDI), with inviting American investors being one of the top priorities.

Ambassador Kritenbrink said discussing with U.S. entrepreneurs helped him understand that the investment procedures are not always easy in Vietnam and the investment plans would take a while to complete, but Vietnam is always willing to corporate and both sides tried their best to find out the optimum solutions for the investments.

The U.S. ambassador also expressed his gladness with the setting up the VBI Fast Track, which he believed will soon facilitate the American investment inflow into Vietnam.

VBI Fast Track was established at a time when Vietnam has emerged as a safe and reliable destination for foreign investors, according to Pham Phu Truong, CEO of VBI Fast Track.

Foreign business owners need to be connected with the local authorities and domestic entrepreneurs while receiving information and advice on administrative procedures, rules of the law, and market demand.

Mary Tarnowka, director of Amcham Vietnam, said she hopes that the memorandum of cooperation would spur the American investment flow into Vietnam in the near future.

Currently, U.S. entrepreneurs are interested in investing in the sectors of renewable energy, infrastructure and health care, shared Tarnowka.

VBI Fast Track is an organization that consists of many businessmen who are not only reputable but also experienced in working with foreign investors.

Thanks to them, VBI Fast Track has an advantage in understanding the market demand, enabling them to cooperate with the localities to effectively use FDI capital.

VBI Fast Track helps localities to map out a productive investment attraction strategy. The organization also guides local communities to select only the companies that have high environmental standards or a good impact on Vietnam.

VBI Fast Track focuses on projects whose values are at least US$500 million and plans to become a bridge that brings foreign investors closer to the Vietnamese government, removing the obstacles that have hindered FDI inflow.

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