PM calls on Warburg Pincus to increase investments in Vietnam
Prime Minister Pham Minh Chinh on September 28 suggested the US-based global growth investor Warburg Pincus to further its effective coordination with Vietnamese agencies to increase long-term and sustainable investment in the Southeast Asian nation.
Hanoi (VNA) – Prime Minister Pham MinhChinh on September 28 suggested the US-based global growth investor WarburgPincus to further its effective coordination with Vietnamese agencies to increaselong-term and sustainable investment in the Southeast Asian nation.
At a reception for Charles Kaye, director general ofWarburg Pincus that has invested 2 billion USD in Vietnamese firms since 2013,Chinh lauded cooperation between Warburg Pincus and local partners.
Regarding the Vietnam-US relations, the PM said theirbilateral trade reached nearly 87 billion USD in the first eight months of thisyear, up about 20% year-on-year.
The US remains Vietnam’s biggest buyer, while Vietnam isthe 9th biggest trade partner of the US globally and the biggest inthe Association of Southeast Asian Nations (ASEAN).
As of September 2022, the US ranked 11 out of 139countries and territories investing in Vietnam, he said, noting that Vietnamhas been a magnet for US tech giants like Apple, Dell and Intel.
Chinh suggested Warburg Pincus, with its worldwidenetwork of clients, continue to work as a bridge helping investors from the USand other foreign countries access Vietnam.
Warburg Pincus should expand investment in new areas,especially renewable energy, he continued, calling on the investor to provide policyconsultation for Vietnam.
The Vietnamese Government will further improve thedomestic investment environment, and support foreign investors in the country, Chinh pledged.
For his part, Kaye lauded Vietnam’s efforts and successesin COVID-19 containment and national development, as well as its macro-economicstability given global uncertainties, and infrastructure development,particularly soft infrastructure.
Vietnam is an increasingly attractive and importantinvestment destination for US firms, and one of the five most importantinvestment destinations of Warburg Pincus, he noted.
Informing the host about Warburg Pincus’s recentoperations, Kaye promised to invest in Vietnam for a long term, and expressedhis wish to increase investments in the country, particularly in renewableenergy at industrial parks and policy consultation.
He also raised some proposals regarding investmentprojects in Vietnam.
PM Chinh said a number of legal documentsrelating to the proposals are being complied, amended and supplemented to matchinternational commitments and the reality in Vietnam./.
Prime Minister Pham Minh Chinh expressed his hope that the US will continue its support for Vietnam in negotiations on the just energy transition partnership while receiving US Special Presidential Envoy for Climate John Kerry in Hanoi on September 5.
Head of the Party Central Committee’s Economic Commission Tran Tuan Anh has affirmed the Vietnamese Party and State’s determination to actively respond to climate change and deliver on relevant international commitments.
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Vietnam is a country with which Russia shares a special relationship. In the 1950s and 60s, particularly during Vietnam’s struggle for independence, the two countries forged a deep bond. While much has changed over time, the friendship and cooperation between our nations have endured, said Russian President Vladimir Putin.
For 50 years, Vietnam and New Zealand have worked together to uphold peace and prosperity for their peoples and the region. The friendship, cooperation, and mutual understanding Vietnam and New Zealand nurtured have grown from a seed into a deeply rooted, strong, and thriving tree, she stressed.
Since the Strategic Partnership was established in 2020, Vietnam and New Zealand have witnessed steady growth in the relations. Beyond the remarkable 40% increase in bilateral trade over five years, political relations and multilateral interactions, particularly within the CPTPP framework, have remained highly positive.
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At the reception (Photo: VNA) 
