In late June, U.S. President Donald Trump blasted Vietnam, calling it “almost the single worst abuser of everybody.” In response, the Vietnam Ministry of Foreign Affairs took a calm approach, saying that Vietnam is improving investment conditions for U.S. companies while encouraging Vietnamese businesses to invest in the U.S.
With a big $39.5 billion surplus, the Vietnamese government's public affirmation by encouraging investment in the U.S. represents a welcome opening to what is a complex problem. Focusing on steering Vietnamese investment capital to the U.S. is a smart call: with its booming economy, many Vietnamese entrepreneurs would love to make an investment in U.S. business or property. In making this statement, Hanoi is not only responding to Mr. Trump's unpredictable moves, it is reassuring its core business community that it remains firmly pro-investment…even if that investment isn't in Vietnam.
What's even smarter is the potential reach of Hanoi's new position. While Prime Minister Nguyen Xuan Phuc said in January that Vietnam would be increasing US imports from giants like Boeing, this most recent development goes beyond a government commitment to step up its U.S. large scale investments. It means Vietnam's expanding entrepreneurial class can look toward opportunities in the U.S. with Hanoi's blessing.
In targeting potential U.S. investments, Florida is ripe with opportunity and offers some of the best investment incentives in the country. With no state income tax, a thriving economy, and a skilled workforce, South Florida in particular should be a focal point for inbound private equity investments from Vietnam.
In January, Florida begins “online notarization” meaning that property purchases, contract execution, joint ventures, and other investments can be done online, without the need for a physical visit to the U.S. by the Vietnamese investor.u00a0 Beginning soon, LatourLaw will be the only U.S. law firm offering online investment and contract closing services in Vietnam, permitting our clients to video conference from our Ho Chi Minh office with our Miami office and close deals in real time, online, and hassle-free.
If you are considering a U.S. business or real estate investment, contact LatourLaw for more information on how our Family Office Services can make your U.S. investment experience painless and easy.
Attorney José E. Latour