Monday, 17 Jun 2019

Vietnam to accompany foreign investors for long-term success: PM

Updated at Thursday, 04 Oct 2018, 10:39
The Hanoitimes - Vietnam`s extensive integration into the world economy is an opportunity for foreign investors to explore and expand business activities in the country, the government portal reported.
Vietnamese government will accompany and create favorable conditions for foreign investors' long term success in the country, Prime Minister Nguyen Xuan Phuc has stated. 
Illustrative photo. Source: VGP.
Illustrative photo. Source: VGP.
Vietnam's economy has been growing at a rapid rate in recent years, coupled with stable macro-economic conditions and improved business environment, Phuc said in a meeting with leaders of several global corporations on October 3. 

Moreover, Vietnam has been in the process of global integration through its participation in a number of free trade agreements. This is an opportunity for foreign investors to explore and expand business operations in Vietnam, stated Phuc. 

In a meeting with Youn Chul Kim, chairman of South Korea-based Hanwha Techwin, Phuc welcomed the corporation's plan to expand business activities in Vietnam, especially in high-technology fields. 

Phuc expressed his belief that Hanwha corporation would be a good example of FDI enterprise in Vietnam, adding that he expected Hanwha to invest in other fields such as smart city or infrastructure development. 

Kim informed the PM that Hanwha currently is South Korea's eight largest multinational company with revenue of US$57 billion in 2017. The corporation has invested US$800 million in Vietnam through five subsidiaries. The company's aircraft engine parts factory in Vietnam is scheduled to be put into operation in November. 

Speaking with Spencer Darmian White, CEO of Delta Offshore Energy, a joint-venture of investors from the US, Norway, Finland, England, the Netherlands, and France, Phuc highly regarded the company's investment natural liquefied gas project in Bac Lieu. 

Phuc stressed the government gives priority in renewable energy projects, while a growing power consumption in the country will be valuable opportunity for investors in the energy sector. 

White said the company will speed up the implementation process once receiving investment license and expected more support from the government and local agencies in completing the construction of the project. 
Ngoc Thuy
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