(QNO) - Quang Nam has a plan to promote the establishment of the Quang Nam-US Industrial Park and gives priorities to the semiconductor industry and digital economic sectors, such as the ICT industry, digital techniques, nano techniques, bio-industry, new materials, and clean power.
The United States, Quang Nam’s largest export market
At the Vietnam - US Trade Forum: Opportunities for Vietnamese Businesses taking place in Da Nang city on November 10, 2023, Deputy Chairman of the Quang Nam provincial People’s Committee Ho Quang Buu said that the US is currently one of the major trading partners and the largest export market of Quang Nam, accounting for about 56.2% of the provincial total export turnover in 2022.
According to Buu, the upgrade of Vietnam - US relations to a comprehensive strategic partnership has made many big American corporations pay much attention to Vietnam.
Among them are Apple, Microsoft, Boeing, Meta, Google, Amazon Web Services, Netflix, and SpaceX.
This is a good opportunity for trading cooperation between Quang Nam and the US market, contributing to the attraction of high-quality investment projects.
In the first 10 months of 2023, the value of Quang Nam exports to the US reached USD 438.45 million, including garments, leather shoes, wood products, electronic devices, light bulbs, electronic chips, fibres, camping tents, sofa covers, semi-trailers, equipment, mechanical products, and auto parts and accessories.
Investment promotion in the establishment of the Quang Nam-US Industrial Park
Reportedly, the US FDI projects are rather limited in Quang Nam. However, the province has much potential and hopes to attract more FDI projects from the US, including high technology, innovation, renewable energy, new powers, infrastructure construction, financial centre, modern trade and services, research and development, aviation industry, and green industry. They are the US strengths.
At the same time, Quang Nam will give priority to projects with high-tech content, advanced technology, modern administration, high added value, technology transfer, and ensuring the participation of Quang Nam businesses in the global value chain.
On August 3, 2023, a delegation from California visited Quang Nam and THACO Corporation in the Chu Lai Opened Economic Zone.
On that occasion, a MoU (Memorandum of Understanding) on establishing a cooperative relationship was signed between THACO Industries and Oakland Port, THACO Industries, and California Waste Solutions.
Besides, the mayor of Oakland wanted to cooperate with Quang Nam to develop ports and clean energy and to create room for two-way cooperation on export and import, against climate change, and green energy development.
Currently, THACO has signed cooperation agreements with 20 American customers on exporting semi-trailers, mechanical equipment, and spare parts.
It is expected that the export revenue will reach USD 120 million in 2023.
Translated by Q.THU