Vietnam urges Warburg Pincus to expand investment in Vietnam
Vietnam steps up efforts to attract global capital, mostly management fund like Warburg Pincus.
THE HANOI TIMES — Prime Minister Pham Minh Chinh has invited Warburg Pincus, a global private equity firm managing more than US$83 billion in assets, to expand its investment in Vietnam and help mobilize capital for the public and private sectors.
The request was made at a meeting in Hanoi on April 18 with Jefferey Perlman, CEO of Warburg Pincus and Chairman of the US-ASEAN Business Council (USABC).
The prime minister said that Vietnam is in strong financial need for development, and is committed to effective cooperation with international investors.
Prime Minister Pham Minh Chinh (right) and Jefferey Perlman, CEO of Warburg Pincus and Chairman of the US-ASEAN Business Council at the meeting on April 18. Photo: VGP
Warburg Pincus is one of the world's leading investment funds injecting more than $2 billion into Vietnam since 2013, creating over 40,000 jobs. Chinh praised the firm's long-term commitment and sustained investment in Vietnam over the past decade.
He welcomed a proposal by Warburg Pincus and the People's Committee of the southern province of Ba Ria-Vung Tau to build an expressway linking Long Thanh International Airport to Ho Tram for improving regional connectivity and promoting high-end tourism and supporting services.
The route would also maximize the potential of Ho Tram project, which is poised to become a major tourism hub.
The project also may qualify for additional policy incentives upon completion.
Chinh asked Warburg Pincus to work with US stakeholders to promote bilateral trade and investment cooperation. He urged the firm to advocate for Vietnam's recognition as a market economy and its removal from the US list of countries subject to high-tech export restrictions.
For his part, Perlman acknowledged Vietnam's proactive efforts to address US concerns on trade issues. As chairman of the USABC, he pledged support for mutually beneficial tariff solutions between the two countries.
He praised the growing Vietnam-US economic relations, noting that Vietnam continues to receive strong support from US businesses.
The USABC chairman said American investors consider Vietnam a highly reliable partner and praised the country's ongoing reforms, which have brought both short-term success and long-term stability.
"US businesses believe in Vietnam's potential and long-term prospects," said Perlman.
