PM meets US firms to talk in­vest­ment in VN

Viet Nam News - - BUSINESS -

NEW YORK — Prime Min­is­ter Nguyeãn Xuaân Phuùc chaired a sem­i­nar on at­tract­ing in­vest­ment to Vieät Nam in the con­text of the Fourth In­dus­trial Rev­o­lu­tion with more than 40 lead­ing busi­nesses of the US in New York City on Thurs­day.

The event, part of the PM’s trip to at­tend the high-level Gen­eral De­bate of the 73rd Ses­sion of the UN Gen­eral Assem­bly, at­tracted US busi­nesses op­er­at­ing in such fields as in­for­ma­tion tech­nol­ogy, telecom­mu­ni­ca­tions, re­tail, lo­gis­tics, food, bev­er­age, en­ergy and con­struc­tion. It was held by the Busi­ness Coun­cil for In­ter­na­tional Un­der­stand­ing and the FPT Com­pany of Vieät Nam.

Ad­dress­ing the sem­i­nar, PM Phuùc ex­pressed his wish to lis­ten to US busi­nesses’ as­pi­ra­tions and com­ments on the in­vest­ment en­vi­ron­ment in Vieät Nam and showed his readi­ness to an­swer their ques­tions so as to help fa­cil­i­tate Amer­i­can projects and busi­ness co­op­er­a­tion pro­grammes in the coun­try.

High­light­ing the huge po­ten­tial of the Viet­namese stock mar­ket – one of the world’s fastest­grow­ing mar­kets, he asked US in­vestors and en­ter­prises to point out prob­lems that need sup­port and more favourable con­di­tions from the Viet­namese Gov­ern­ment.

He also voiced his de­light that US in­vestors want to ex­pand in­vest­ment and busi­ness ac­tiv­i­ties in Vieät Nam, adding that his Gov­ern­ment al­ways wel­comes for­eign busi­nesses and in­vestors to the coun­try to tap into lo­cal tech­no­log­i­cal and labour ad­van­tages.

PM Phuùc also asked them to sug­gest so­lu­tions to short­com­ings in Vieät Nam’s in­vest­ment and busi­ness cli­mate, as well as ideas to help boost lo­cal de­vel­op­ment in all spheres, in­clud­ing agri­cul­ture, health care and ed­u­ca­tion, in the In­dus­try 4.0 era.

With a sta­ble macro-econ­omy and low in­fla­tion, Vieät Nam’s econ­omy may ex­pand by 7 per cent in 2018, he said, adding that there had been 24,000 for­eign in­vested projects worth over US$350 bil­lion in the South­east Asian na­tion.

Call­ing on US firms to pro­mote in­vest­ment in Vieät Nam, the PM also asked them to rec­om­mend ways to help the coun­try cap­i­talise on In­dus­try 4.0, par­tic­u­larly in deal­ing with the risks of job losses or lag­ging be­hind.

At the sem­i­nar, US in­vestors showed their op­ti­mism about in­vest­ment and busi­ness op­por­tu­ni­ties and prospects in Vieät Nam, with many firms hav­ing been present in the coun­try for decades.

They said they be­lieved in Prime Min­is­ter Nguyeãn Xuaân Phuùc’s dras­tic ef­forts to im­prove the busi­ness and in­vest­ment cli­mate, and boost in­fra­struc­ture de­vel­op­ment and dig­i­tal econ­omy in Vieät Nam.

Bern­erd Da San­tos, Vice Pres­i­dent and CEO of AES Cor­po­ra­tion, one of the 200 en­ergy firms with the largest rev­enue on the globe, said his cor­po­ra­tion wished to par­tic­i­pate in Vieät Nam’s so­cio-eco­nomic de­vel­op­ment.

In­tro­duc­ing the com­pany’s 10year in­vest­ment process in the field of elec­tric­ity in Vieät Nam with a to­tal in­vest­ment of $2 bil­lion, Bern­erd Da San­tos said there are nu­mer­ous op­por­tu­ni­ties for US com­pa­nies to in­vest in Vieät Nam in re­new­able en­ergy, gas and liq­ue­fied pe­tro­leum gas.

He also spoke highly of Vieät Nam’s de­vel­op­ment achieve­ments over the past 30 years, say­ing that they had been made thanks to the eco­nomic re­form ef­forts and de­ter­mi­na­tion of the coun­try.

The PM and the Viet­namese Gov­ern­ment had al­ways paid at­ten­tion to step­ping up IT ap­pli­ca­tion and in­no­va­tion, he added.

A rep­re­sen­ta­tive from GE Global, one of the lead­ing US and world groups in avi­a­tion and me­chan­i­cal en­gi­neer­ing, ex­pressed the wish that the Viet­namese Gov­ern­ment will di­rect rel­e­vant agen­cies to speed up the mak­ing of de­ci­sive poli­cies to­ward cre­at­ing more favourable con­di­tions for in­vestors.

Mean­while, a rep­re­sen­ta­tive from Medlife In­sur­ance Group, said that the group wanted the Viet­namese Gov­ern­ment to con­tinue ac­cel­er­at­ing the re­form of State-owned en­ter­prises, es­pe­cially in terms of fi­nance and bank­ing, and give more chances for for­eign in­vestors to en­gage in busi­ness co­op­er­a­tion ac­tiv­i­ties.

Some other groups ex­pressed their in­ter­ests in e-gov­ern­ment and im­prove­ment of im­port-ex­port goods cus­toms clear­ance.

Con­clud­ing the event, PM Phuùc high­lighted the Vieät NamUS com­pre­hen­sive co­op­er­a­tion, firstly in econ­omy and trade, with pri­or­ity given to tech­nol­ogy. He af­firmed that “Vieät Nam al­ways rolls out the red car­pet for in­vestors and will do its ut­most to help them suc­ceed in the coun­try”.

On the same day, the PM re­ceived Phil Fal­cone, Se­nior Man­ag­ing Di­rec­tor of Har­bin­ger Cap­i­tal, and Ti­mothy Gei­th­ner, Di­rec­tor of War­burg Pin­cus, in New York.

At the meet­ings, Phuùc said that Har­bin­ger Cap­i­tal and War­burg Pin­cus – the two ma­jor fi­nan­cial in­vest­ment com­pa­nies – have ex­panded their op­er­a­tions and in­vest­ment in Vieät Nam, es­pe­cially in tourism, con­tribut­ing to the coun­try’s eco­nomic de­vel­op­ment and job gen­er­a­tion.

He af­firmed the Viet­namese Gov­ern­ment al­ways cre­ates favourable con­di­tions for for­eign in­vestors, in­clud­ing those from the United States, via build­ing a fair and favourable busi­ness and in­vest­ment en­vi­ron­ment for en­ter­prises.

Lead­ers of the two US firms ex­pressed their plea­sure to meet PM Phuùc in the US, and said they be­lieve in Vieät Nam’s growth po­ten­tial as well as eco­nomic de­vel­op­ment poli­cies of the Viet­namese Gov­ern­ment. They pledged to con­tinue long-term in­vest­ment in Vieät Nam. — VNS

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