[Federal Register: March 11, 2008 (Volume 73, Number 48)]
[Notices]
[Page 12947-12948]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr11mr08-30]
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DEPARTMENT OF COMMERCE
International Trade Administration Mission Statement
AGENCY: Department of Commerce.
ACTION: Notice.
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Mission Statement; Assistant Secretarial Trade Mission to Vietnam; June
16-20, 2008
I. Mission Description
The United States Department of Commerce, International Trade
Administration, U.S. Commercial Service is organizing a Trade Mission
to Hanoi and Ho Chi Minh City, Vietnam, June 16-20, 2008, to be led by
Assistant Secretary for Trade Promotion and Director General of the
U.S. and Foreign Commercial Service Israel Hernandez.
The mission will focus on helping U.S. companies launch or increase
their export business in the Vietnamese market. The mission will help
participating firms gain market information, make business and
government contacts, solidify business strategies, and advance specific
projects, towards the goal of increasing U.S. exports to Vietnam. The
mission will include business-to-business matchmaking appointments with
local companies, as well as meetings with key government officials, and
American and local chambers of commerce. The delegation will be
comprised of U.S. firms representing a cross section of U.S. industries
with commercial interests in Vietnam.
II. Commercial Setting
With a GDP of $61 billion and a young population of 84 million,
Vietnam is one of the fastest growing economies in Asia (8.4% growth in
2006) and a new member of the World Trade Organization (WTO) (January
11, 2007). Since the signing of the U.S.-Vietnam Bilateral Trade
Agreement in 2001, two-way trade has increased from about $1.5 billion
(2001) to $9.7 billion (2006). Total U.S. merchandise exports to
Vietnam in 2006 reached $1.1 billion, and in 2007, U.S. exports grew by
an estimated 65.1% over the previous year.
Industrial production continues to grow at 14-15% per annum, as the
country follows an increasingly sophisticated foreign investment- and
export-led growth strategy in such industries as agriculture and
aquaculture, furniture, textiles and now consumer electronics. Over the
past five years, multilateral development banks have expanded loan
portfolios to fund aggressive infrastructure (transportation, energy,
telecommunications) growth and will continue to do so into the
foreseeable future. New WTO market-opening commitments will continue to
be phased in through 2015, making it easier for U.S. companies to open
businesses and sell and distribute products in most major sectors. The
telecommunications, power production, and oil and gas equipment markets
are well above $2.0 billion each and growing significantly each year.
IT infrastructure, financial services, environmental products, aviation
and airport equipment, security, mining, medical devices and
franchising present further lucrative selling opportunities for U.S.
exporters. Also, industrial inputs ranging from raw materials to
sophisticated manufacturing technology are needed to fuel the Vietnam
government's export-led growth strategy. Rising incomes in Ho Chi Minh
City and Hanoi, which tend to be four times the national average, are
opening visible new selling opportunities for consumer goods producers
and service-sector providers.
Vietnam's government has successfully privatized a few small State-
Owned Enterprises (SOEs), and will continue to do so. However, in major
economic sectors such as energy, banking, telecommunications, oil and
gas, and shipping, the government will ``equitize'' (offer shares of
large state corporations to investors while maintaining a majority
stake) SOEs over the next five to ten years. While challenges remain
for U.S. companies doing business in Vietnam, evolving and improving
regulatory and commercial law regimes are beginning to address business
corruption, weak intellectual property rights enforcement and a lack of
transparency and consistency. The mission is designed to assist U.S.
companies to identify and capture these opportunities.
III. Mission Goals
The Business Development Mission to Vietnam will help U.S. firms
initiate or expand their exports to Vietnam's leading industry sectors
by providing business-to-business introductions, market access
information, and information on U.S. Government trade financing
programs.
IV. Mission Scenario
The Business Development Mission to Vietnam will include stops in
Hanoi and Ho Chi Minh City. In each city, participants will:
Meet with government officials.
Meet with potential buyers, agents/distributors and
partners.
Attend briefings by Embassy officials on the economic and
commercial climates.
Receptions and other business events will be organized to provide
mission participants with further opportunities to speak with local
business and government representatives, as well as U.S. business
executives living and working in the region.
[[Page 12948]]
V. Proposed Timetable
Monday, June 16, 2008
Mission Begins in Hanoi
Market Briefing
Business Delegation Matchmaking
Networking Reception
Tuesday, June 17, 2008
Business Delegation Matchmaking
Wednesday, June 18, 2008
Travel to Ho Chi Minh City
Evening Reception
Thursday, June 19, 2008
Market Briefing
Business Delegation Matchmaking
Friday, June 20, 2008
Business Delegation Matchmaking
Mission Concludes
VI. Participation Requirements
All parties interested in participating in the Vietnam Business
Development Mission must complete and submit an application package for
consideration by the Department of Commerce. All applicants will be
evaluated on their ability to meet certain conditions and best satisfy
the selection criteria as outlined below. A maximum of 22 companies
will be selected to participate in the mission from the applicant pool.
U.S. companies already doing business with Vietnam as well as
experienced U.S. exporters seeking to enter Vietnam for the first time
are particularly encouraged to apply.
Fees and Expenses
After a company has been selected to participate on the mission, a
payment to the Department of Commerce in the form of a participation
fee is required. The participation fee will be $3,750 per firm, which
includes one principal representative. The fee for each additional firm
representative is $850. Expenses for travel, lodging, most meals, and
incidentals will be the responsibility of each mission participant. The
option to participate in the mission is also being offered to U.S.-
based firms with an established presence in Vietnam or neighboring
countries; the same fee structure applies.
Conditions for Participation
An applicant must submit, by the specified deadline, a
completed and signed mission application and supplemental application
materials, including adequate information on the company's products
and/or services, and the company's primary market objectives, in order
to facilitate evaluation of the application and appropriate matching
with potential business partners.
Each applicant must also certify that the company meets
Departmental guidelines for participation. A company's products or
services should be either produced in the United States, or, if not,
marketed under the name of a U.S. firm and have at least 51 percent
U.S. content of the value of the finished product or service.
Selection Criteria for Participation: Selection will be based on
the following criteria, listed in decreasing order of importance:
Suitability of the company's products or services in
Vietnam
Applicant's potential for business in Vietnam, including
likelihood of exports resulting from the mission and applicant's export
experience
Consistency of the applicant's goals and objectives with
the stated scope of the trade mission
Referrals from political organizations and any documents containing
references to partisan political activities (including political
contributions) will be removed from an applicant's submission and not
considered during the selection process.
VII. Timeframe for Recruitment and Applications
Mission recruitment will be conducted in an open and public manner,
including publication in the Federal Register, posting on the Commerce
Department trade mission calendar (http://www.ita.doc.gov/doctm/
tmcal.html) and other Internet Web sites, press releases to general and
trade media, direct mail, broadcast fax, notices by industry trade
associations and other multiplier groups, and publicity at industry
meetings, symposia, conferences, and trade shows. The International
Trade Administration will explore and welcome outreach assistance from
other interested organizations, including other U.S. Government
agencies.
Recruitment for the Mission will begin immediately and close April
11, 2008. Applications are available on-line on the Vietnam Business
Development Mission Web site at http://www.export.gov/vietnammission.
They can also be obtained by contacting the Mission Project Officers
listed below.
Applications received after April 11, 2008 will be considered only
if space and scheduling constraints permit.
Contacts:
Sean Timmins, Commercial Service Trade Missions Program Tel: 202-482-
1841/E-mail: vietnammission@mail.doc.gov
Karen Dubin, Commercial Service Trade Missions Program Tel: 202-482-
3786/E-mail: vietnammission@mail.doc.gov
Sean Timmins,
Trade Mission Project Officer, Commercial Service Trade Missions
Program, Office of Domestic Operations, U.S. Commercial Service,
Washington, DC 20004, Tel: 202-482-1841/E-mail:
vietnammission@mail.doc.gov.
[FR Doc. E8-4798 Filed 3-10-08; 8:45 am]
BILLING CODE 3510-25-P