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US state of Maryland to open trade office in HCM City
Authorities from the state of Maryland in the US have reached a deal to establish a new economic development office in Viet Nam.
The office, which will work to attract trade and investment to Maryland and assist Maryland companies with doing business in Viet Nam, will have two branches, one in Ha Noi, the country’s political capital, and the other in HCM City, the country’s business hub.
The office will be run by Rockville-based Meiwah International Holdings, an import-export company which will essentially work on commission at no direct cost to Maryland.
Maryland’s Department of Business and Economic Development Secretary Christian S Johansson said he expected the new office would create more opportunities for trade and investment between the two countries.
Maryland exported more than US$22 million worth of products and services to Viet Nam last year, and imported more than $65 million.
"We looked very closely at Viet Nam’s growing economy and are confident that having a presence there will enable us to tap into the tremendous potential for partnerships with Vietnamese companies, as well as encourage investment in Maryland," Johansson said in a statement.
Maryland will now have 13 offices around the world. In April, offices were opened in New Delhi, India. Last year, Maryland opened new foreign offices in the South Korea, Japan, Montenegro, Canada, Brazil, South Africa and Scandinavia.
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