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Economic News

Last updated: Friday, October 20, 2017

 

Vietnam Seeks More U.S. Investment in Financial Market

Posted: Thursday, September 21, 2017

Vietnam PM Nguyen Xuan Phuc Meets Timothy Geithner in Hanoi. Photo: VGP
Vietnam PM Nguyen Xuan Phuc Meets Timothy Geithner in Hanoi. Photo: VGP

Vietnam is seeking to attract more investment from the U.S., especially from financial companies, as the Southeast Asian country gives priority to enhancing the Comprehensive Partnership with the U.S.

It is good time now to invest in Vietnam’s financial market, Vietnamese Prime Minister Nguyen Xuan Phuc told Timothy Geithner, former U.S. Treasury Secretary and President of Warburg Pincus LLC, at a meeting in Hanoi Wednesday.

Mr. Phuc said Vietnam is continuing its efforts to privatize its state-owned enterprises, adding that he hopes more foreign companies will get involved in the process and become strategic partners of these enterprises.

He added that Vietnam’s business environment has improved with the country having joined several free trade agreements.

“To make it more attractive to foreign investors, Vietnam will continue its reforms, promote business development, ensure a stable business environment and macroeconomic conditions and keep international payment balance and inflation under control,” Mr. Phuc said.

Mr. Geithner said he is optimistic about Vietnam’s economic outlook, noting that his company as well as others from the U.S. can contribute their experience to the development of Vietnamese economy.

Late last year, Warburg Pincus LLC and Vietnam’s VinaCapital announced that they would jointly invest up to $300 million in a hotel venture in Southeast Asia.

Mr. Phuc said he believes in the success of Warburg Pincus in Vietnam, adding that Vietnam will always listen to investors to further improve its business environment.

VTK








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