return icon

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.
PM calls on Warburg Pincus to increase investments in Vietnam hinh anh 1
At the reception (Photo: VNA)

At a reception for Charles Kaye, director general of Warburg 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 their bilateral trade reached nearly 87 billion USD in the first eight months of this year, up about 20% year-on-year.

The US remains Vietnam’s biggest buyer, while Vietnam is the 9th biggest trade partner of the US globally and the biggest in the Association of Southeast Asian Nations (ASEAN).

As of September 2022, the US ranked 11 out of 139 countries and territories investing in Vietnam, he said, noting that Vietnam has been a magnet for US tech giants like Apple, Dell and Intel.

Chinh suggested Warburg Pincus, with its worldwide network of clients, continue to work as a bridge helping investors from the US and other foreign countries access Vietnam.  

Warburg Pincus should expand investment in new areas, especially renewable energy, he continued, calling on the investor to provide policy consultation for Vietnam.

The Vietnamese Government will further improve the domestic investment environment, and support foreign investors in the country, Chinh pledged.

For his part, Kaye lauded Vietnam’s efforts and successes in COVID-19 containment and national development, as well as its macro-economic stability given global uncertainties, and infrastructure development, particularly soft infrastructure.

Vietnam is an increasingly attractive and important investment destination for US firms, and one of the five most important investment destinations of Warburg Pincus, he noted.

Informing the host about Warburg Pincus’s recent operations, Kaye promised to invest in Vietnam for a long term, and expressed his wish to increase investments in the country, particularly in renewable energy at industrial parks and policy consultation.

He also raised some proposals regarding investment projects in Vietnam.

PM Chinh said a number of legal documents relating to the proposals are being complied, amended and supplemented to match international commitments and the reality in Vietnam./. VNA


Girl with brittle bone disease opens class for poor students

As she wasn't able to fulfil her dream of becoming a teacher due to congenital vitreous disease, Nguyen Thi Ngoc Tam opened a free class for poor students.

Miniature-human sculptures popular with customers

The price of a sculpture ranges from one to five million VND, depending on the difficulty of the model. Eight to 19 ordered products are made per day to guarantee progress as well as the quality of the sculpture for the customer.

Lacquer village outlasts centuries-old craft

Alongside a wide range of products made from natural materials such as wood, bamboo and rattan, the village also has created new gold- and silver-inlaid products made from ceramic, pottery, and composite.

Local firms do business in P2P lending market

P2P Lending has become a hot issue in Vietnam, especially with the participation of Chinese businesses.

Vietnam to hold first cat fish festival soon

Vietnam’s first cat fish festival is scheduled to take place in the southern province of Dong Thap on December 16-17.

Control of bad content on social networks should be tightened

Tik Toker No O No, who criticized the poor, was boycotted by the community and forced to shut down by the authorities. He is not the first Tik Toker that has posted bad content on social networks.

Businesses struggle to keep workers as exports slow

Businesses have been struggling to maintain and support their workers as the Lunar New Year approaches.

Only in Vietnam: Shrimp-chip straws, dragon-fruit noodles

VietNamNet sums up the “odd news” in Vietnam last week.

Vietnam in need of more village-based midwives

Vietnam is in need of village-based midwives as the country has more than 7,000 remote and disadvantaged villages where women do not regularly get antenatal care at medical facilities.

Fuel supply estimated to surge 10-15% in 2023

The Ministry of Industry and Trade has drawn up two scenarios for the minimum fuel supply in 2023, requiring key fuel enterprises to increase the overall figure by 10-15% in 2023, according to the local media.

Da Nang to hire more IT staff to meet digital transformation goals

In the 2022-2025 period, Da Nang needs at least 7,500 more information technology (IT) workers a year and in the 2026-2030 period, the figure is 8,000.

Ho Chi Minh City looks to cash in on new travel trends

Ho Chi Minh City expects to fully exploit bleisure travel - a novel type of tourism combining business travel with leisure time.

A special English class in Hanoi for the older generation

For the past four years, a special English class has been held in Hai Ba Trung District in Hanoi for students 60 to 90 years old.


Strong economic growth creates platform for M&A market


Hanoi Tourism Ao Dai Festival 2022 opens