PM encourages US investment


The Hanoitimes – Vietnam will create the best possible conditions for foreign investors, including those from the US, to establish long-term partnerships and operate efficiently in the country.

Prime Minister Nguyen Tan Dung made the statement while receiving Kenneth Juster, managing director of the global investment firm Warburg Pincus in Hanoi o­n July 10.

Dung noted that the US is o­ne of Vietnam’s leading investors and trading partners.

Vietnam, the US and other partners are currently negotiating the trans-Pacific Partnership agreement (TPP), and o­nce the agreement is signed, it will help increase two-way trade and US investment in Vietnam, he said.

He asked Juster to lobby US conglomerates to support Vietnam in TPP negotiations so as to conclude them as scheduled.

He also expressed his belief that Warbug Pincus will carry out other investment affairs following its first o­ne in Vietnam’s Vingroup.

The US investment firm entered a partnership deal with Vietnam’s Vingroup in May 2013, becoming a strategic partner. A Warburg Pincus affiliate decided to spend US$200 million buying 20% of a Vingroup affiliate’s share, specialising in retails.

For his part, Juster proposed that the Vietnamese government facilitate US operations in Vietnam.
Established in New York in 1966, Warburg Pincus has developed 14 investment funds and injected more than US$45 billion into nearly 700 firms in 35 countries across the globe.