US-ASEAN Business Council (USABC) announced on December 15 that VinFast US, member of Viet Nam’s largest private corporation Vingroup, has become the newest member of the council.

The first batch of VinFast electronic vehicles (EVs) is exported to the US. (Photo: VNA)

USABC is the premier advocacy group and the only US-based organisation recognised in the Association of Southeast Asian Nations (ASEAN) Charter.

Being a member of the USABC will help VinFast US enhance knowledge of the US and ASEAN regulatory and policy framework, as well as policy advocacy to drive forward its business. VinFast US will contribute to promoting the adoption of electric vehicles in both regions and support the council's ongoing efforts to elevate US-ASEAN economic relationship.

The US-ASEAN Business Council has been an important voice in the development of trade and investment in Southeast Asia since its founding in 1984, said Le Thi Thu Thuy, Vice Chairwoman of Vingroup and Chairwoman of VinFast.

The addition of VinFast US to the Council's membership of leading companies is a testament to how this long-term commitment has been critical to the development of industry in Southeast Asia, she added.

Ted Osius, President & CEO of the USABC and a former US ambassador to Viet Nam, said VinFast US's participation in the council will benefit the entire organisation because it has significant investments in the US and partners with many of other member companies.

Viet Nam is the US's 7^th largest trade partner in the world and also its largest trade partner in the ASEAN region in the 1^st half of 2022.

VinFast's plan to build an electric vehicle factory in North Carolina announced in March 2022 is a testament to the growth of bilateral trade between ASEAN and the US. Slated to open in 2024, this facility is expected to create jobs for thousands of Americans.

Source: VNA