Vietnamese President Nguyen Minh Triet reaffirmed that the State is trying its best to create a transparent and favorable investment environment for foreign businesses, including those from the US, local media reported.
The President made his commitment on August 27 while receiving two US leading businesses, Fred Gillmann, CEO of Gillmann Group, and Xuan Vu (Peter) Nguyen, President cum Director of Fidelity Ventures, and some other US partners.
An increasing amount of foreign investors have been flocking into Vietnam, especially after the nation’s WTO entry, Triet noted the US businesses, adding that Vietnam has spared no efforts to improve its business climate.
Triet highly appreciated a plan by Gillmann Group and Fidelity Ventures to invest in a US$5 billion recreational complex in southern Ba Ria – Vung Tau province, saying he hopes the two businesses would be successful in their projects in Vietnam.
The two guests, for their parts, briefed President Triet of their ambitious plan, saying Vietnam possesses wonderful beaches where resorts and recreational centers should be built to lure more foreign holidaymakers.
If approved, the project is expected to be the country’s first and biggest entertainment complex.
Vietnam is now targeting to attract investment from the US’s transnational groups to produce high-quality goods for export and build research centers to serve Vietnam’s human resource training.
As at mid-May of this year, the US has had 325 investment projects with total registered capital of US$2.3 billion in Vietnam, accounting for 4.4 per cent of the total foreign direct investment project and 3.5 per cent in term of capital, and ranking the eighth among 77 countries and territories in the world investing in Vietnam. (The People, VNA)
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