Press Release

Secretary Gutierrez Witnesses Contract Signings Between U.S. and Vietnamese Companies

Agreements Build Upon Gutierrez November 2007 Trade Mission

WASHINGTON—U.S. Commerce Secretary Carlos M. Gutierrez and Vietnam Prime Minister Nguyen Tan Dung today presided over the signing of contracts and other agreements that represent expanded access for U.S. companies to Vietnam’s growing market. These commercial agreements highlight the strengthening economic relationship between the United States and Vietnam. The new deals support jobs in the United States and further increase U.S. exports to Vietnam which grew almost 73 percent in 2007 and more than 133 percent year to date April 2008.

“American companies offer the products and services that will help Vietnam meet the demands of its rapidly developing economy, while supporting American growth and job creation,” Gutierrez said. “The companies making commitments today will help meet those needs in telecommunications, port development, consumer goods, mining, aviation and software development. These are important investments that will improve Vietnamese productivity and add to the growing economic partnership between our countries.”

Companies signing contracts with their Vietnamese counterparts were Alcoa, Motorola Inc. and Sabre Holdings. Companies that received investment licenses were SSA Marine and Gannon International. A Memorandum of Cooperation was also signed between Vietrade, the Vietnam trade promotion agency and the U.S. Foreign and Commercial Service.

The signings build upon last year’s business development mission that Secretary Gutierrez led to Vietnam with 23 American companies exploring new commercial opportunities. Two participants in that Mission—Alcoa and Gannon—were among the companies signing agreements today.

Today’s signings included:

• Alcoa, of New York, N.Y., and Vietnam National Coal-Mineral Industries Group signed a Cooperation Agreement on Aluminum Industry Development..
• Motorola Inc., of Schaumburg, Ill., and Vietnam Posts and Telecommunications Group signed contracts worth $28 million for the expansion of a GSM network across 12 Northern provinces of Vietnam.
• Sabre Holdings, of Southlake, Texas, and Vietnam Airlines Corporation signed a definitive memorandum of understanding for the purchase of an Internet-booking engine and e-commerce solution and a passenger services system, which includes airline reservations, departure control and inventory management technology.

Today’s license awards included:

• The Socialist Republic of Vietnam presented SSA Marine and Cai Lan Port Joint Stock Company with the Investment Certificate for their joint venture company, Cai Lan International Container Terminal Limited Liability Company (CICT). The certificate allows CICT to develop and operate container terminals at Cai Lan Port, in Quang Ninh Province.
• Gannon Vietnam Ltd., a division of Gannon International, of St. Louis, Mo., was presented the Investment Certificate for its joint venture company, Gannon Brewery Joint Stock Company. The certificate allows that company to develop and operate beer brewing and bottling facility in Long An Province.