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Jan 09, 2020 / 11:10

US Development Finance eyes to invest in Vietnamese enterprises

US Development Finance Corporation is committed to investing in Vietnam, particularly in energy, healthcare and infrastructure development.

With around US$60 billion under disposal, US International Development Finance Corporation (DFC), the US government’s development finance institution, would not limit its support for US enterprises, and neither for Vietnamese peers, said Adam Boehler, DFC’s CEO.

 Prime Minister Nguyen Xuan Phuc (r) and Adam Boehler, DFC’s CEO (l). Source: VGP. 

The DFC gives priority to cooperating with Vietnam, which is part of the US foreign policy, said Boehler in a meeting with Prime Minister Nguyen Xuan Phuc on January 8.

Boehler added US President Donald Trump has high hope for Vietnam – US relations, expressing delight that the country has transformed significantly since his last visit 10 years ago.

According to Boehler, DFC is committed to investing in Vietnam, particularly in energy, healthcare and infrastructure.

With Vietnam taking over as ASEAN Chair in 2020, DFC expects to cooperate with Vietnam to invest in infrastructure development to connect five countries in the Mekong Delta region, stated Boehler.

Boehler appreciated Vietnam’s efforts in perfecting legal framework under public – private partnership (PPP) financing mechanism, which is an important step to promote private investments.

Boehler stressed DFC aims to help the US become the top investor in Vietnam.

PM Phuc said Vietnam – US relations are growing strongly in all spheres, especially in trade and investment, adding Vietnam is pursuing a balanced trade with the US.

Phuc stated foreign and private investment capital played a key role for Vietnam’s high economic growth. As of present, social investment capital accounts for 33 – 34% of the GDP.

Phuc expected the country’s economy would become stronger and more sustainable with more investments in energy, infrastructure, healthcare and education, among others.

Vietnam is willing to cooperate with the DFC in setting up investment programs in Vietnam and Mekong Delta region, said Phuc.

In a separate meeting with Nguyen Van Binh, Politburo member and head of the Party Central Committee’s Economic Commission, on the same day, Boehler reiterated DFC's commitment to invest in Vietnam’s private sector, including energy and infrastructure, ensuring Vietnam’s energy security and supporting major projects.

Binh requested DFC to expand its investment portfolio in Vietnam to the country’s priority fields and serve as bridge for US investors looking for business opportunities in the country.