VietNamNet Bridge - Many investment cooperation contracts have been signed in recent days between Vietnamese businesses and partners from the US, which is expected to pave the way for Vietnamese goods to penetrate more deeply into the US market.

Within the framework of the ASEAN-US Summit, Vietnamese businesses escorting the Prime Minister Nguyen Tan Dung to the conference recently signed a series of business cooperation agreements with US partners at the Sunnylands Center and Gardens in Rancho Mirage, California.

BIDV signed an agreement on promoting business in life insurance with BIDV MetLife, and Bien Dong Seafood Company signed a contract on supplying and developing seafood products with H2Origins Seafood. 

Meanwhile, the Thai Group signed a contract on building the Park Hyatt brand with the Hyatt Group.

Le Tu Anh, president of GAP Agriculture JSC, said GAP and its partners in the US planned to open a supermarket to distribute Vietnamese goods in the US in two months.

This would be the first supermarket developed with the total investment capital of $3 million, in a chain of four supermarkets and one Vietnamese goods distribution center in California.

“If the model goes successfully, we will set up more chains in other states in the US,” Anh said.

Vietnamese businesses signed a series of business cooperation agreements with US partners at the Sunnylands Center and Gardens in Rancho Mirage, California.

With the chains, Anh and GAP want to bring Vietnam’s food directly to the US consumers under a closed process, ‘from farms to dining tables’.

Meanwhile, Vinaco-op hopes it can penetrate restaurants and hotels in the US from the so called Viet Nam House. The project is being implemented with the participation of 21 investors.

It is not a new idea to open supermarkets in the US that sell Vietnamese products. 

However, the project has caught the special attention of Vietnamese businesses because it has been encouraged by the Ministry of Planning and Investment, while the work has been verified by the General Consulate in the US.

In the near future, the supermarket chain can serve as the ‘home port’ which gathers Vietnamese farm produce with high quality to be sold in the US market.

Analysts said that Vietnamese businesses are now more cautious and methodical when entering the US market than they did in the past.

GAP, for example, instead of going to the US alone, has called on cooperation from other businesses. 

The supermarket to be opened in the US in two months is invested in by six Vietnamese businesses and a Viet Kieu investor in the US with the capital contribution of each side at $500,000.

According to Anh, Chinese farm produce and goods have lost prestige in the US market. Therefore, 2016-2017 is believed to be the time that decides if Vietnamese goods can gain success in the US, a market which promises both profits and risks. 


DNSG