US investment funds appreciate potential of Vietnam

Prime Minister Pham Minh Chinh, who is in the US for the high-level week of the UN General Assembly’s 78th session, had a seminar and a working dinner with leaders of multinational businesses and leading US investment funds in New York on September 21 (local time).

At the seminar, leaders of businesses and investment funds as well as Vietnamese State management agencies discussed measures and orientations to attract more financial resources for socio-economic development, especially the building and development of financial centres in Vietnam.

Leaders of US investment funds held that amid fluctuations in the world geo-political and economic situation, Vietnam has been evaluated by international organisations as a bright spot in investment attraction with many favourable factors for the development of a modern financial market towards the formation of a financial centre capable of linking with financial centres in the region and around the world.

They pointed to Vietnam’s advantages in stable macro-economy and political situation, favourable location, improved investment and business environment, extensive international economic integration, fast digital economic development and innovation, and expanding economic scale and financial market.

They advised Vietnam to learn from international experience while choosing the model and method of building its financial centre which is compatible with international practices and suits the country’s real conditions.

Addressing the event, PM Chinh said that the elevation of the Vietnam-US relations to a comprehensive strategic partnership during US President Joe Biden’s visit to Vietnam has opened up new trade and investment opportunities between the two countries.

He said that in the time to come, Vietnam will focus on promoting green, digital and circular economy and science-technology and innovation development to engage more deeply into the global investment structure, trade order and supply chain, while continuing to open its market, attracting high-quality foreign investment, supporting businesses in science-technology development, strengthening investment in infrastructure system, and focusing on high-quality human resources training.

The process requires the companion and resources sharing from international friends, multinational businesses and leading investment funds in the world and the US in particular, he stated.

The Vietnamese Government leader asked for experience sharing and political consultations from global firms and investment funds in mobilising financial resources and building of the financial centre in Ho Chi Minh City, as well as in developing other markets such as land-use rights, science and labour markets.

Vietnam hopes to receive their suggestions to enhance the governance capacity for Vietnamese public and private sectors, heading to a high level of transparency, efficiency and sustainable development, he added.

He pledged that Vietnam will continue to improve its business environment, ensuring the legal and legitimate rights and interests of investors, and creating optimal conditions for investors to operate effectively and sustainably in the country.