Overseas Vietnamese Business Association sets up U.S branch

The Business Association of Overseas Vietnamese (BAOOV) has set up its branch in Washington DC, on April 12.

Addressing the launch ceremony, Vietnamese Ambassador to the US Le Cong Phung expressed his hope that the branch will help promote the ties between business circles in Vietnam and the US and make great contributions to the two countries' multi-faced relations.

BAOOV President Pham Nhat Vuong said that the association decided to form a branch in the US to promote business opportunities in Vietnam to the Americans and the Vietnamese American business community.

David Huy Ho, Vice President of BAOOV and President of its branch, said that in 2008, Vietnamese and American businesses generated over US$20 billion in the US and invested about US$200 million in Vietnam.