Prime Minister meets US firms to talk investment in Vietnam

ABO/VNA – Prime Minister Nguyen Xuan Phuc chaired a seminar on investment attraction to Vietnam in the context of the Fourth Industrial Revolution with more than 40 leading businesses of the US in New York city on September 27.

Prime Minister Nguyen Xuan Phuc (centre) shakes hands with US entrepreneurs at the seminar in New York city on September 27 (Photo: VNA)

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 Vietnam.

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

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

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

PM Phuc also asked them to suggest solutions to shortcomings in Vietnam’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, Vietnam’s economy may expand by 7 percent in 2018, he said, adding that there have been 24,000 foreign invested projects worth over 350 billion USD in the Southeast Asian nation.

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

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

Especially, they said they believe in Prime Minister Nguyen Xuan Phuc’s drastic efforts to improve the business and investment climate, and boost infrastructure development and digital economy in Vietnam.

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 wishes to participate in Vietnam’s socio-economic development.

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

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

Prime Minister Nguyen Xuan Phuc and the Vietnamese Government have 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 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 wants 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 Phuc highlighted the Vietnam-US comprehensive cooperation, firstly in economy and trade, with priority given to technology. He affirmed that Vietnam always rolls out red carpet for investors and will do its utmost to help them succeed in the country.

(Source: VNA)