According to updated data from the General Statistics Office, FDI investment in Vietnam is on an upward trend, with total foreign direct investment registered in Vietnam reaching nearly $11.07 billion by May 20, 2024, a 2% increase compared to the same period last year. Although this is a modest increase, it is much more positive compared to the 7.3% decrease in the first five months of 2023 and the 16.4% decrease in the first five months of 2022. Currently, the United States is also one of Vietnam’s leading trading partners and the first export market of Vietnam to surpass the $100 billion mark.
TIn the context of the United States and Vietnam actively enhancing comprehensive cooperation, partnerships in cultural, creative economy, sports, and tourism sectors also contribute to Vietnam’s national strategic goals. The signing of the Memorandum of Understanding on cooperation in culture, creative economy, sports, and tourism between the Ministry of Culture, Sports, and Tourism and the American Chamber of Commerce in Vietnam emphasizes that promoting and advertising two-way tourism is a key factor for economic growth, contributing to GDP through job creation and the expansion of new markets, based on mutually beneficial cooperation.
According to Vietnam’s Ambassador to the United States, Nguyen Quoc Dung, the word “miraculous” is an accurate description of the Vietnam-U.S. relationship. The Ambassador noted that the two countries have achieved many milestones in their relationship—accomplishments that would have been unimaginable decades ago. However, these “sweet fruits” of today are not the result of luck, but rather the outcome of persistent efforts and nurturing by generations of leaders, citizens, and businesses on both sides.
One of these “sweet fruits” is the partnership between Nobu Hospitality and Viet Capital Real Estate (VCRE), with the Nobu Danang and Nobu Saigon projects. Nobu Danang holds a special role as a landmark in Da Nang city, becoming the first Nobu-branded hotel, restaurant, and residence complex in Vietnam and Southeast Asia.
A Tourism Icon, Elevating International Status
During his official visit to Hanoi last year, President Joseph R. Biden and the late General Secretary Nguyen Phu Trong established the Comprehensive Strategic Partnership between Vietnam and the United States. Reporting on the event, the White House emphasized the cooperation between VCRE and Nobu Hospitality, highlighting the launch of Nobu Danang. As part of efforts to promote tourism between the two nations, the project promises to become a symbol that contributes to the economic growth of Da Nang’s tourism sector and Vietnam in general by elevating the luxury resort experience. This aligns with the city’s vision for tourism development.
Founded in 1994 by renowned chef Nobu Matsuhisa, superstar Robert De Niro, and veteran film producer Meir Teper, Nobu is hailed as a “global icon of luxury lifestyle” and is a favorite destination for many international celebrities.
Nobu Danang, located on the My Khe beachfront, is the “sweet fruit” of the partnership between Vietnamese and American enterprises, symbolizing the strengthened collaboration in this new era.
In June 2024, the three renowned founders of Nobu Hospitality—Hollywood actor Robert De Niro, legendary chef Nobuyuki Matsuhisa, and entrepreneur Meir Teper—visited Vietnam to participate in a series of exclusive events organized by Viet Capital Real Estate (VCRE). During the event, U.S. Consul General Susan Burns congratulated both companies on their exciting business venture in Vietnam, a dynamic and rapidly growing market with numerous new opportunities.
Susan Burns highlighted Nobu Hospitality’s understanding of Vietnam’s potential and expressed pride in seeing such a prestigious American company enter the Vietnamese market. She emphasized that 2025 will mark the 30th anniversary of U.S.-Vietnam diplomatic relations, and there is a growing wave of new investments and bilateral economic partnerships. The presence of Nobu, with its unique blend of Japanese culture, cuisine, and American innovation, is a significant moment for Vietnam.
A representative from VCRE noted that partnering with a globally renowned brand like Nobu not only acts as a cultural bridge but also enhances the international image of both countries, particularly in terms of investment and business. Nobu’s presence is expected to boost tourism and improve service quality in Vietnam, as Nobu typically attracts international and elite clientele who demand the highest standards.
Nobu Hospitality CEO Trevor Horwell stated that the decision to choose Vietnam, especially Da Nang, as their first destination in Southeast Asia, was largely based on market potential. He highlighted that the influx of tourists from around the world to Da Nang each year makes it an ideal location for expanding Nobu’s comprehensive tourism services in the region. Compared to other Asian countries like South Korea or Thailand, which have already developed strong service industries, Vietnam is seen as a market with abundant growth opportunities.
The Founders of Nobu Visit Vietnam: Hollywood icon Robert De Niro (center), legendary chef Nobuyuki Matsuhisa (second from the left), and entrepreneur Meir Teper (second from the right) were photographed during their visit to Vietnam as part of a series of exclusive events organized by Viet Capital Real Estate (VCRE).
ASEAN’s Economic Outlook: Ted Osius, the Chairman of the U.S.-ASEAN Business Council and former U.S. Ambassador to Vietnam, highlighted ASEAN as a global economic bright spot amidst global economic challenges. He noted that U.S. companies have consistently invested more in ASEAN than in China, India, Japan, South Korea, and Taiwan combined, underscoring the region’s importance to global investors. This perspective emphasizes the strategic value of the region, especially for businesses like Nobu Hospitality that are expanding into Southeast Asia.
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