Ho Chi Minh City seeks investment partnership with The Asia Group

Kritenbrink is now a partner at The Asia Group, a U.S.-based strategy and business advisory group to companies with business interests in the trans-Pacific region.

He served as Assistant Secretary of State for East Asian and Pacific Affairs in 2021-25 and U.S. Ambassador to Vietnam in 2017-21 before joining The Asia Group in February this year.

Speaking with Kritenbrink, Nghi highlighted the remarkable progress in Vietnam-U.S. relations over the past three decades.

In Ho Chi Minh City, the U.S. ranks as the ninth-largest investor, with two-way trade exceeding US$10.7 billion in 2024.

Nghi emphasized that the city has recently adopted a new two-tiered local government model and expanded its administrative boundaries by incorporating Binh Duong and Ba Ria-Vung Tau Provinces.

With its goal of becoming a regional hub for innovation and logistics, Ho Chi Minh City is keen to attract external resources, especially in capital, technology, and management.

Nghi affirmed the city’s commitment to contributing to the Vietnam-U.S. comprehensive strategic partnership and welcomed deeper engagement from American businesses in local projects.

The city’s senior Party leader invited The Asia Group to promote investment in areas such as financial center development, high-tech industries, smart urban development, digital transformation, energy transition, and high-quality workforce training.

In response, Kritenbrink affirmed The Asia Group's shared vision with the city.

He said that The Asia Group continues to support American and Asian businesses operating in Vietnam, while also assisting Vietnamese enterprises in expanding abroad, particularly in the U.S..

He voiced strong optimism about Vietnam and Ho Chi Minh City’s development, pledging that The Asia Group would continue to act as a bridge for Vietnam's growth.

He also expressed his personal affection for the country and his desire to continue fostering bilateral ties in his new capacity.

The Asia Group partner acknowledged that tariff negotiations between Vietnam, other countries, and the U.S. remain a challenge, drawing significant attention from American businesses.

However, both Kritenbrink and Nghi believed mutually beneficial solutions could be reached.

Nghi assured that Ho Chi Minh City will continue to support both domestic and foreign enterprises, including U.S. firms, and expressed hope for further cooperation with The Asia Group across various sectors.