Monday, 17 Jun 2019

Vietnam seeks advice from US businesses for development: PM

Updated at Friday, 28 Sep 2018, 11:18
The Hanoitimes - Vietnam always stands ready to support foreign companies, stated Prime Minister Nguyen Xuan Phuc.
Prime Minister Nguyen Xuan Phuc has asked US businesses to propose initiatives for achieving breakthroughs in Vietnam's economic development, the government portal reported. 
Prime Minister Nguyen Xuan Phuc at the meeting with US businesses. Source: VGP.
Prime Minister Nguyen Xuan Phuc at the meeting with US businesses. Source: VGP.
"I want to know who is willing to do business in Vietnam and realize these ideas," Phuc was quoted by the government portal in a meeting on September 27 with 40 leading US corporations, including IBM, AIG, AES, GE, Walmart, among others. 

At the meeting, the PM said he is eager to hear what US companies think of Vietnam's business and investment environments, and will clarify any issues to facilitate their business plans in the country. 

The PM stressed huge potential of Vietnam's stock market, for which he expected to discuss with US businesses and investors about remaining challenges and shortcomings of the market that require supports from the government, especially in terms of policies and regulations. 

Vietnam always stands ready to support foreign companies, Phuc said. 

According to Phuc, Vietnam's economic growth is projected to reach 7% in 2018, coupled with stable macro-economic condition and low inflation rate. At present, there have been 24,000 foreign-invested projects in Vietnam with registered capital of US$350 billion.

Most US companies attending the meeting expressed optimistic views about investment opportunities in a market with population of over 90 million. 

Bernerd De Santos, AES's COO, said the corporation wants to take part in Vietnam's economic development. 

AES has been present in Vietnam for over 10 years with investment capital of US$2 billion, he said, adding that there remain numerous opportunities for US businesses in fields of renewable energy, gas and liquefied natural gas in Vietnam. 

Vietnam's economy has been constantly growing in the last 30 years. At present, the PM is playing an essential role in taking the economy to a higher stage of development, especially in technologies application, stated the AES's COO, adding he appreciated the PM's message of ensuring Vietnam's stable macro-economy.

Representative from GE Global expressed hope that the Vietnamese government will create more favorable conditions for investors, while Medlife's representative expected strong effort from Vietnam's authority in state sector reform, focusing on finance - banking sector. 

Meanwhile, Motorola's representative stated the company is interested in smart city projects in Vietnam and looks forward to receiving more supports from the government. 

Concluding the meeting, the PM expected cooperation between the US and Vietnam to be comprehensive, in which economic and trade activities should be the focus. 
Ngoc Thuy
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