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.
At a reception for Charles Kaye, director general of Warburg Pincus that has invested 2 billion USD in Vietnamese firms since 2013, Mr. Pham Minh 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.
Informing the host about Warburg Pincus’s recent operations, Mr. 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.