Many areas, including infrastructure construction and renewable energy production, are assessed to be the potential for US businesses to invest in Vietnam.

A handover ceremony for the joint venture agreement between the Vietnamese Saigon Invest Group’s Kinh Bac City Development and Saigon Telecom Technology JSC, and the US-based Quantum Group was held on September 22 with the witness of State President Nguyen Xuan Phuc.

The signing took place after the president’s meeting with Arun Savkur, General Director of Quantum Corporation during his visit to the US to attend the 76th UN General Assembly in New York City.

At the event, Quantum said it is committed to investing in a series of projects with a total value of about US$20-30 billion. State President Nguyen Xuan Phuc highly appreciated the group's potential and achievements in doing business in Vietnam. He believes that the project chain carries the strategic and long-term vision of enterprises in Vietnam.

Specifically, Quantum focuses on investing in Vietnam in important areas such as the Long Son power plant (worth about 5 billion USD) in Ba Ria - Vung Tau, infrastructure investment projects with a long-term vision such as Long Son port (including gas port to supply industrial zones and households later).

In order to support Vietnam in the fight against Covid-19, the group wished to cooperate with Vietnamese partners to build a healthcare system that combines Western high technology and Eastern traditional medicine. The group also intends to invest in building a technology center for the production of Covid-19 vaccines in the country.

Quantum also expressed a strong desire to invest in logistics in the southern of Ba Ria-Vung Tau province and build a railway line connecting Vung Tau with Dong Nai, Binh Duong, and Ho Chi Minh City. They are also interested in building a logistics network in the North of Vietnam from Lang Son to Hanoi and Hai Phong.

The US group also expected to invest in infrastructure construction in Vietnam such as highways, bridge construction, telecommunications, industrial real estate, and the stock market.

On the same day, representatives of The AES Corporation (NYSE: AES) and Petrovietnam Gas JSC (PV Gas) exchanged the signed joint venture agreement for the Son My LNG terminal located in Binh Thuan Province in South-Central Vietnam.