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Vietnam Today

PM meets with President of Warburg Pincus

Released at: 10:40, 08/05/2019

PM meets with President of Warburg Pincus

Photo: VGP

Two meet in Hanoi on May 7.

by Minh Do

Vietnam has been successful in reforming its economy, improving its business environment and making investors optimistic, and in the context of complex global issues is expected to maintain its efforts at reform and integration, Mr. Timothy Geithner, President of Warburg Pincus and former US Treasury Secretary, said during a meeting with Prime Minister Nguyen Xuan Phuc at the Office of the Government on May 7.

In return, Prime Minister Phuc said the relationship between the US and Vietnam has developed in many fields. The US is now one of Vietnam’s leading partners and he expects to continue to boost the comprehensive partnership with a focus on economy, trade, and investment.

He affirmed that Vietnam has made great efforts to improve its business environment and resolve obstacles and assist foreign enterprises, especially those from the US, to invest and do business in the country. He also greatly appreciated that Warburg Pincus, a global private equity firm, has invested in Vietnam.

Mr. Geithner said it has five investment projects in Vietnam, two of which are in finance. He hopes the Vietnamese Government will create better conditions for foreign investors in the finance, banking, and online payment fields.

The Prime Minister said that Vietnam welcomes foreign investors in banking and finance and has complied with its WTO commitments. The government pays attention to ensuring macro stability, winning trust from enterprises and investors. It has also assigned ministries and branches to research and improve the investment environment for finance, which would facilitate US investors.

In late February, Vietnam also welcomed US President Donald Trump to the second DPRK-US Summit, where contracts worth $21 billion were signed between US and Vietnamese enterprises.

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