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PM urges foreign investors not to miss investment opportunities in Vietnam

Ngoc Thuy Hanoi Times Saturday,  October 12, 2019

Overview of the meeting. Source: VGP

HANOI, Vietnam – Investors spoke of Vietnam’s potential of liquefied natural gas (LNG), and showed willingness to cooperate with Vietnam in this field.

Prime Minister Nguyen Xuan Phuc has urged foreign investors not to miss investment opportunities in Vietnam, given the country’s huge potential for development.

In the coming time, the Vietnamese government is committed to ensuring macro-economic stability and pushing for stronger economic growth, said Phuc in a meeting with potential investors on October 11.

According to Phuc, Vietnam welcomes foreign investors who bring in both direct and indirect investment capital, saying the government would create favorable conditions for the success of investors.

Phuc added Vietnam has been maintaining high economic growth and giving priority to improving business environment by addressing concerns of the business community.

Phuc referred to recent assessment of the World Economic Forum that Vietnam has improved the most globally in its latest global competitiveness report, climbing 10 places to rank 67th out of 141 countries and territories.

Vietnam is focusing on attracting high quality projects and investments in the field of energy, Phuc said, adding as the Vietnamese economy has been growing, the country is in need of large capital for investment.

Phuc expected investors to expand investment in priority fields in the country such as infrastructure development, energy, among others.

On behalf of the investors, Steve Bates, chairman of boards of major investment funds, including Vietnam Opportunities Fund, a flagship of Ho Chi Minh City-based leading investment firm VinaCapital, congratulated Vietnam on its socio-economic achievements despite a slowdown in global economic growth.

Bates expressed his delight at Vietnam’s higher ranking in the WEF’s competitiveness report, and was certain that the country is among the most attractive investment destinations globally.

At the meeting, investors spoke of Vietnam’s potential for development of liquefied natural gas (LNG), and showed willingness to cooperate with Vietnam in this field.

Investors said they are confident this cooperation would be a big success with the support of the Vietnamese government. They considered the stock market a major channel for investment, particularly through the acquisition of shares of public enterprises.

In this regard, PM Phuc stressed the country’s business environment is improving and becoming more transparent. Moreover, there have been a growing number of enterprises planning to sell stakes on the stock market.

Phuc welcome investors’ initiatives of building large scale LNG plants in northern Vietnam.

From: HANOI TIMES (Vietnam) Saturday, October 12, 2019

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