Deals worth $35m signed on PM’s first day of U.S. visit
On the first day of Vietnamese Prime Minister’s landmark visit to the U.S. June 20, two large contracts worth 35 million USD were signed between Vietnamese and American companies.
Mr. Khai arrived in the west coast city of Seattle to witness the signing of two economic contracts between Vietnamese businesses and local group Pegasus Global Capital.
The first deal worth 25 million USD between Pegasus and the authorities of Vietnam’s central Quang Nam province is to build a five-star hotel in Quang Nam.
Investing into Quang Nam in particular and central Vietnam in general will bring huge benefits to American companies, PM Khai said at the signing ceremony.
Quang Nam and central Vietnam have beautiful beaches and a large number of cultural and historical sites - huge opportunities to develop tourism and hotels, he said.
Pegasus also reached an agreement with Vietnam’s construction giant Cienco 5 to build a 10 million-USD office building covering 50 hectares in an industrial zone in north Vietnam.
Since the two countries restored diplomatic links, bilateral trade has rocketed from 451 million USD in 1995 to 6.4 billion USD in 2004.
Following a historic bilateral trade pact in 2001, the U.S. has emerged as Vietnam's most crucial commercial partner.
Vietnam's Trade Ministry says it expects to export 6.2 billion USD of goods to the U.S. in 2005, most of it clothing, fish, shrimp, furniture and coffee.
Seattle is the first stop of PM Khai’s four-city tour that culminates June 21 with a meeting with U.S. President George W. Bush in Washington D.C.
Source: Vietnam Net – Compiled by Hieu Trung.
Story from Thanh Nien News
Published: 20 June, 2005, 21:34:20 (GMT+7)
Copyright Thanh Nien News
