[Federal Register Volume 73, Number 48 (Tuesday, March 11, 2008)]
[Notices]
[Pages 12947-12948]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-4798]


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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: [email protected]
Karen Dubin, Commercial Service Trade Missions Program Tel: 202-482-
3786/E-mail: [email protected]

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: 
[email protected].

 [FR Doc. E8-4798 Filed 3-10-08; 8:45 am]
BILLING CODE 3510-25-P