US-based global private equity firm Warburg Pincus expects to have greater leeway tapping in Vietnam’s finance – baking sector and e-payment, among others, according to Timothy Geithner, Warburg Pincus’s president and former US Treasury Secretary.
Prime Minister Nguyen Xuan Phuc and President of Warburg Pincus Timothy Geithner. Source: VGP.
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Geithner expected Vietnam to continue the reform and global integration efforts, especially in a world with growing uncertainties.
Currently, the equity firm has five investment projects in Vietnam, two of which are in the field of finance, Geithner stated.
At the meeting, PM Phuc said the Vietnam-US relation is growing strongly in all spheres.
Vietnam considers the US a priority partner and looks to promote the comprehensive strategic partnership between the two countries to a new height, Phuc added, saying the focus would be economy, trade and investment.
Phuc mentioned US President Donald Trump’s latest visit to Vietnam on the occasion of the second North Korea – US summit in February, during which enterprises of the two countries signed commercial contracts worth over US$21 billion.
According to Phuc, Vietnam has been pushing for more efficient investment and business environments, while ensuring favorable conditions for foreign companies to do business in the country.
Phuc stated Vietnam has open policies for foreign investors in all economic sectors, including finance, banking, reaffirming the country’s strong commitment to the WTO.
The government gives priority to stabilizing macro-economic condition, which would lay a foundation for enterprises doing long-term business in the country, he continued.
