Vietnamese government leaders and business people are focusing on overseas investment, including tourism in the San Francisco region in the US state of California, according to a local newspaper.
The San Francisco Business Times reported on November 6 that Vietnam’s largest tourism company was negotiating to buy a Fisherman’s Wharf hotel while the country’s largest bank planned to open a San Francisco office.
Its article entitled "Vietnam pumps cash into San Francisco region" added that a Vietnamese company bought a Cupertino shopping centre recently - and more deals may be on the way as investors target undervalued Bay Area properties in a weak economy.
"The deals are part of a concerted effort by Vietnamese government leaders and business people to focus overseas investment and tourism on the Bay Area, which is home to roughly 300,000 Vietnamese-Americans and has long-established political and commercial ties with the Southeast Asian nation," said the newspaper.
It quoted Le Thu Ha, Vietnamese Deputy Consul General in San Francisco, as saying that though people always think investment comes from the US side, it’s now time for Vietnamese entrepreneurs to do business here as well.
The diplomat said that if this goes successful, more Vietnamese businesses would invest in the US in general and in California in particular.