Leading US firm to invest in Hanoi's world-class amusement park

Rosen Partner LLC Group, a leading US investment firm, is planning to develop a world-class amusement park in Hanoi, to bring world-renowned brands to the capital.

Deputy Prime Minister Le Minh Khai and Rosen Partner's CEO Daniel Rosen during the meeting. Photo: Nhat Bac/VGP

Rosen Partner’s CEO Daniel Rosen announced this during a meeting with Deputy Prime Minister Le Minh Khai on November 2.

Rosen underscored the immense investment potential that Vietnam offers and highlighted the country's promising prospects. As the CEO of Rosen Partner, a company engaged in real estate ventures worldwide, he expressed the group's recognition of the significant opportunities in Vietnam.

The CEO also emphasized the company's commitment to respecting the cultural and national identities of the countries in which it invests to provide the best possible experience for tourists. He also expressed his confidence that the renowned brand of Rosen Partner LLC Group would play a positive role in attracting a higher number of tourists to Vietnam in the future.

Rosen also put forward ideas for investing in the development of Hanoi's infrastructure and expressed hope for long-term support from the Vietnamese government. He mentioned that, with the initial steps and existing relationships, Rosen Partner intends to encourage more businesses to invest in Vietnam.

Deputy Prime Minister Le Minh Khai acknowledged that Hanoi, as the political and economic center of Vietnam, possesses a rich cultural heritage and historical significance. Therefore, the decision of Rosen Partner to invest in an amusement park in Hanoi is considered appropriate.

The Deputy Prime Minister pointed out that Rosen's visit coincides with the 10th anniversary of the establishment of the Vietnam - US Comprehensive Partnership and the recent establishment of a Strategic Partnership between the two countries during President Biden's visit to Vietnam in September 2023.

Khai expressed his appreciation for Rosen Partner's investment proposal and cooperation ideas in Vietnam. He believed that this presented a valuable opportunity to contribute to the development of Hanoi, Vietnam, and the broader Vietnam-US relations.

He also made it clear that Vietnam welcomes foreign corporations, including Rosen Partner, to invest in the construction and real estate sectors. He assured that, within the framework of Vietnamese law, the Government will provide full support and facilitate the implementation of Rosen Partner's project in Hanoi.

Khai also encouraged Rosen Partner to continue discussions and close coordination with the Hanoi People's Committee, as well as relevant ministries and agencies, to further define the opportunities for investment cooperation in Vietnam.

At the same time, he urged the Hanoi People's Committee to collaborate with relevant ministries and agencies in providing support to Rosen Partner in the process of developing the project proposal.

The Deputy Prime Minister also called on ministries and agencies, under their respective mandates and responsibilities, to ensure that Rosen Partner is afforded the most favorable conditions under the law to expedite the project's execution. He expressed his hope that the group's investment vision for Vietnam will rapidly materialize and prove successful.

Further elaborating on Vietnam's investment priorities, Khai highlighted the country's focus on sectors aligned with emerging trends, high-tech applications, green transformation, and commercial infrastructure.

He anticipates that, through his established connections, the CEO of Rosen Partner will encourage businesses from around the world to invest in Vietnam, fostering mutually beneficial relationships while managing risks effectively.

In terms of bilateral relations between the two countries, Khai emphasized Vietnam's recognition of the US as a crucial partner. Over 28 years since normalization, the relationship between Vietnam and the US has evolved significantly and comprehensively across various domains.

“The bilateral relations have now been elevated to a Comprehensive Strategic Partnership structured around ten key pillars, of which economic, trade, and investment relations play a pivotal role,” said Khai.

Bilateral trade between the two nations continues to show robust growth, with an estimated two-way trade turnover estimated to exceed US$123 billion in 2022, marking an 11% increase from the previous year. The US continues to be Vietnam's top export market, while Vietnam is the United States' seventh-largest trading partner globally and its largest partner in the ASEAN region.

Regarding investment relations, the US has consistently been the most significant partner in terms of investment in Vietnam. Presently, the US has 1,306 active foreign direct investment (FDI) projects with a total registered capital of $11.8 billion, ranking it as 11th among 143 countries and territories investing in Vietnam.