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Wednesday, June 19, 2024

Space X, Netflix, Boeing to Join Important US Business Mission in Vietnam

This Week

Space X, Netflix, and Boeing are among the companies to participate in the largest-ever US business mission in Vietnam this week to discuss investment and sales potential in the expanding Southeast Asian country.

According to Reuters, over 50 companies including defense, pharmaceutical, and tech firms are all set to take part in the mission organized by the US-ASEAN Business Council, an industry body.

With a population of 100 million people and a fast-expanding consumer market as its middle-class increases, Mr. Vu Vu Thanh, the Vietnam representative of the US-ASEAN Business Councils, stated, “This is the biggest-ever mission in Vietnam.”

In addition, Thanh noted that state-owned Vietnamese defense procurement firms will meet with aerospace producers Boeing, Lockheed Martin, and Bell adding that this is the first time in ten years that security firms have chosen to participate in the yearly mission to Vietnam.

Boeing said in a statement that its conversations with officials will center on the company’s increasing collaboration with Vietnam as well as strategies to boost the country’s aviation and defense capabilities. Lockheed Martin and Bell, however, did not respond to requests for comment.

Netflix, a prominent streaming service is also a part of the companies which will take part in the mission although it did not respond to a request for comment.

Thanh explained that most companies participating in the business mission already have a business or manufacturing presence in Vietnam, including Apple, Coca-Cola, and PepsiCo, with some looking to grow.

The other companies held some interest in Vietnam as a manufacturing hub and in supplying services to increasingly wealthy consumers at a time when the country’s economy grew by more than 8 percent last year.

Space X, according to Thanh, is one of the companies trying to market satellite internet services to Vietnam and other countries in the region. Space X also did not respond to a request for comment.

Pfizer and Johnson & Johnson, medical device maker Abbott, financial firms Visa and Citibank, internet and cloud companies Meta and Amazon Web Services

According to the list, the mission will also include semiconductor companies, pharmaceutical behemoths Pfizer and Johnson & Johnson, medical device maker Abbott (ABT.N), financial firms Visa and Citibank, internet and cloud companies Meta and Amazon Web Services. It intends to market satellite internet services in Vietnam and other countries in the region.

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