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Vietnam: a Land of Opportunity for U.S. Exporters

Blogged By: 
Stuart Schaag, U.S. Commercial Service
Created on July 28, 2016
 

Stuart Schaag is a career Foreign Service Officer with the U.S. Commercial Service.  He currently serves as Senior Commercial Officer at the U.S. Embassy in Hanoi. Barbara Banas is an International Trade Specialist with the Office of ASEAN and the Pacific Basin, where she covers Vietnam. She is based in Washington, D.C.

 

VietnamBefore you keep reading, let’s conduct an experiment. Open another page on your internet browser and type the word “Viet” into the search bar. What was the first term that came up from the autofill function? It wasn’t “Vietnam”, was it? More than forty years have passed since the end of the U.S.. conflict with Vietnam, yet our old ghosts still linger, revealed in our internet algorithms. As Pulitzer Prize winning author Viet Thanh Nguyen stated, “Vietnam is a country and not a war,” a fact that many U.S.. companies are learning as they seek out new export markets. We like to think that Vietnam is not a war and not just a country, but an opportunity.

Since the United States and Vietnam renewed diplomatic relations in 1995, our commercial relationship has grown exponentially. The United States is now Vietnam’s largest export market and a major source of foreign direct investment. Conversely, in 2015, Vietnam was the United States’ fastest growing export market (up over 23% from 2014) among new TPP partners, demonstrating the increasing demand for U.S.. technologies and goods. Moreover, in Asia, Vietnam’s average annual economic growth rate of well over 5% over the past 25 years has been second only to China’s. After rebounding from the doldrums of the last decade’s global financial crisis, Vietnam has regained its luster as an investment destination and lucrative export market. Last year closed with the economy back in full swing, buoyed by GDP growth of over 6%. What does growth like this mean for Vietnam’s future? The recent joint World Bank and Ministry of Planning and Investment study, Vietnam 2035, states that “growth rates in this range would produce by 2035 an upper-middle income country on the cusp of high income – at the level of Malaysia or the Republic of Korea in the mid-2000s.”

America's Seed Fund

Blogged By: 
SBA News
Created on July 27, 2016
 

Did you know that the U.S. Small Business Administration (SBA) has the largest seed fund on the planet?

Capital formation or “seed money” is the first infusion of capital to make an idea go from a napkin to reality. America's Seed Fund, otherwise known as SBA’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, specialize in assisting entrepreneurs in the technology and science fields. SBA is authorized by Congress to deploy $4 billion annually and there is $25 billion in assets currently under management.

Investigate New Business Opportunities in the Pacific Rim

Blogged By: 
MBDA
Created on July 27 2016
 

New Webinar Series: Business Opportunities in the Pacific Rim

Join the U.S. Commercial Service for a series of complimentary webinars focusing on business opportunities in leading and emerging Pacific Rim markets that are included in the Trans-Pacific Partnership (TPP).

The webinars will focus on the 11 TPP countries and will cover:

Keeping International Competition Front of Mind

Blogged By: 
Guest blog by Chief Communications Officer Patrick Ross
Created on July 27, 2016
 

Empowering bold entrepreneurship by inventors and businesses drives the U.S. economy in a global marketplace. We at the U.S. Patent and Trademark Office know that entrepreneurs today must keep the challenge of global competition front of mind. That’s why we provide an array of tools and resources designed to assist innovators in ensuring their intellectual property rights are respected across the globe. Check out our International IP Toolkit to learn more about our Global Dossier program, our Global Intellectual Property Academy, and so much more.

NEW Resource Platform - Grow Her Business

Blogged By: 
National Women’s Business Council
Created on July 19, 2016
 

The Grow Her Business: A Resource from Start-up to Scale-up platform is LIVE! Grow Her Business is a searchable repository of nearly 200 premiere, growth-oriented programs. This platform will serve as a resource of valuable information and guidance for women entrepreneurs seeking to grow and scale their businesses. The platform will be an easy-to-use platform functioning as a data repository for relevant tactical resources on how to ideate, launch, and grow a business. A few things:

  • Of the 196 fully coded resources, the primary content for 50 percent is accessed in-person, with at least one resource in every state.

  • The other 50 percent of resources have some or all content online. Of the four types of assistance common to business development programs—technical, education, finance and networking—over half of the resources (106) offered multiple types of assistance within one program, potentially making for a more efficient time investment for women.

  • Fourteen percent provide opportunities for financing, as do several of the multi-assistance resources.

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