The Vietnamese American community has been a vibrant and integral part of the U.S. economy, operating around 310,000 businesses that generate an impressive $35 billion in annual revenues. This entrepreneurial spirit is driving more Vietnamese Americans to distribute products from Vietnam within the U.S., enhancing trade and cultural ties between the two nations.
Vietnam's Significant Role in U.S. Imports
SOURCE(S): TRADE MAP; ID 1396246
Top trading partners of the US for trade goods in 2023, by import value (in billion U.S. dollars)
In 2023, Vietnam was the seventh-largest source of imports to the United States, with an import value of $114.4 billion. This underscores Vietnam's growing economic influence and successful integration into global trade networks. Vietnamese-American businesses have been pivotal in this dynamic, frequently ordering agricultural produce and meat from Vietnam, boosting bilateral trade.
Demographic and Economic Impact in California
SOURCE(S): US CENSUS BUREAU; ID 183497
Resident population of the U.S. in 2022, by state (including the District of Columbia) (in millions)
California, the most populous state in the U.S. with 39.03 million residents in 2022, is a major hub for the Vietnamese American community. The state’s diverse demographic, where no single ethnicity holds a majority, includes approximately 1.2 million Vietnamese immigrants, making it the state with the largest Vietnamese population in the U.S. This community is concentrated in key metropolitan areas such as Los Angeles-Long Beach-Anaheim, San Jose-Sunnyvale-Santa Clara, and San Francisco-Oakland-Hayward.
The Vietnamese American Business Association (VABA)
Founded in 2011 in Silicon Valley, the Vietnamese American Business Association (VABA) has been a cornerstone for Vietnamese American professionals and entrepreneurs across various industries. VABA operates under the principle of 'Speak with One Voice,' connecting developers, investors, educators, government officials, and more to cultivate a thriving community. This unified approach ensures effective representation of Vietnamese American professionals' unique needs and perspectives within the business landscape, creating a significant impact.
The Vietnamese American Business Association (VABA) boasts a widespread presence across 12 states. We pride ourselves on a vibrant and diverse community, comprising 40% Vietnamese Americans, alongside members from Chinese, Filipino, African, European, and various other backgrounds. This rich diversity fuels our association's strength and global reach.
Key Contributions and Future Outlook
As a community of innovators, leaders, and visionaries, VABA contributes to a thriving business ecosystem that transcends geographical and cultural boundaries. With California's population expected to increase by nearly 10 million by 2040, the Vietnamese American community is poised for further growth and influence, continuing to play a crucial role in the state’s and the nation’s economic development.
Join Us
The Vietnamese American Business Association (VABA) invites you to join our vibrant community. Together, we can continue to drive forward the entrepreneurial spirit and economic contributions of Vietnamese Americans. Let’s build a prosperous future, not just for our community, but for all.
For more information and to become a member, contact us at: info@vabaus.com
VIETNAMESE AMERICAN BUSINESS ASSOCIATION
Disclaimer:
This blog provides general information only and should not be taken as professional advice. The Vietnamese American Business Association (VABA) is not liable for any decisions made based on this content. Always consult a professional for specific advice.
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