U.S. To Become Vietnam's Top Investor In Two Years

November 2, 2007 1:50 p.m. EST

Hanoi, Vietnam (AHN) - The head of the U.S.-ASEAN Trade Council had announced that the U.S. will become Vietnam's top investor in two years after a visit to the country exploring trade possibilities.

The U.S. is currently the sixth largest foreign investor in Vietnam.

U.S.-ASEAN Trade Council President Matthew Daley made the announcement after meeting with Vietnamese Deputy Prime Minister Hoang Trung Hai in Hanoi.

Daley is also in Vietnam to inaugurate the council's office in Hanoi.

For this year alone, the value of trade between the two countries is around $12 billion, with U.S. investors pouring more than $5 billion into Vietnam.