Prime Minister Pham Minh Chinh: Proposes Warburg Pincus to expand investment and promote fair and sustainable trade between Vietnam and the United States

Photo caption

Prime Minister Pham Minh Chinh received Mr. Jeffrey David Perlman, CEO of Warburg Pincus Investment Fund (USA). Photo: Duong Giang/VNA

On the morning of April 18, Prime Minister Pham Minh Chinh received Mr. Jefferey Perlman, CEO of Warburg Pincus Fund and Chairman of the US-ASEAN Business Council (USABC).

At the meeting, Prime Minister Pham Minh Chinh welcomed the delegation of senior leaders of Warburg Pincus Fund to visit and work in Vietnam; highly appreciated the Fund's companionship and sustainable investment over the past decade in Vietnam; and acknowledged the Fund's efforts and determination in expanding investment in Ba Ria - Vung Tau and Vietnam in general.

Agreeing with the proposal of the Fund and the People's Committee of Ba Ria - Vung Tau province on investing in the construction of an expressway connecting Long Thanh international airport with Ho Tram, the Prime Minister requested the Fund to continue to closely coordinate with ministries and branches to soon implement the project, because this expressway is of great significance in enhancing regional connectivity, promoting the development of high-quality tourism and ancillary service industries, maximizing the effectiveness of the Ho Tram project with its very strategic location and great potential to become a major tourist center.

Prime Minister Pham Minh Chinh received Mr. Jeffrey David Perlman, CEO of Warburg Pincus Investment Fund (USA). Photo: Duong Giang/VNA

The Prime Minister said that Vietnam is a developing country with a transitional economy that still has to overcome the severe consequences of war. Vietnam hopes to continue to receive support and cooperation from the United States, to strengthen and deepen the Comprehensive Strategic Partnership with the United States, including continuing to maintain and promote stable and sustainable economic and trade relations on the basis of equality and mutual benefit, and to strengthen cooperation with US investors in Vietnam.

Thanking the US for postponing the reciprocal tax deadline so that the two sides can negotiate, the Prime Minister affirmed that the economic and trade relations between the two countries do not compete directly but complement each other. Up to now, Vietnam has basically addressed the concerns of the US, proactively cut taxes, purchased more goods from the US and is ready to exchange and negotiate with the US on the basis of mutual benefit, towards sustainable trade fairness, as in the spirit of the recent exchange between General Secretary To Lam and President Donald Trump.

Believing that there is no reason to hinder the continued promotion of bilateral relations for the benefit of the two countries and their peoples, the Prime Minister emphasized that although the current situation has difficulties and challenges, it is still not as difficult as the previous difficulties and challenges that Vietnam overcame when conducting the struggle for national liberation and reunification, the period of siege and embargo, the period before renovation, the Covid-19 pandemic, etc.

Therefore, Vietnam will continue to promote the spirit of self-reliance, self-strengthening, flexible and proactive response to overcome difficulties and challenges and rise strongly. Vietnam needs the support and cooperation of other countries, always respects the legitimate rights and interests of partners, listens to valid opinions but does not depend on that support and cooperation.

The Prime Minister suggested that the Warburg Pincus Fund expand its investment in Vietnam more and faster, as well as support the mobilization of as much capital as possible for both the public and private sectors. Vietnam will actively cooperate to use this capital with the highest efficiency. Along with that, the Fund has a voice with the US government to have appropriate solutions to promote bilateral trade in particular and cooperation between the two countries in general; soon recognize the market economy status with Vietnam and remove Vietnam from the list of countries with restrictions on high-tech exports.

With the viewpoint of "what is said is done, what is committed must be done", Vietnam continues to improve, create the best conditions and accompany and share with businesses, ensuring that businesses operate legally, healthily and effectively; ready to listen to contributions, enhance understanding, and improve cooperation efficiency.

Thanking the Prime Minister for taking the time to meet him; agreeing with the Prime Minister's opinion, the General Director of Warburg Pincus Fund assessed that at an important moment in the Vietnam - US economic and trade relations which are developing very strongly, Vietnam still receives strong support from US businesses; affirming that US businesses consider Vietnam a very reliable partner; believing in Vietnam's potential and long-term prospects.

Regarding bilateral trade relations, Mr. Jeffrey David Perlman said that Vietnam has been very active in responding to the concerns of the US side and is continuing to actively remove barriers and obstacles for businesses, including US businesses, improving the investment and business environment to promote stronger cooperation; affirmed. Personally, as Chairman of USABC, he is always ready to advise and support the proposal of mutually beneficial solutions on tariffs between Vietnam and the US; at the same time, he will continue to strongly advocate other partners about Vietnam's development potential; actively contribute to the Vietnam - US relationship.

Warburg Pincus is one of the world's leading investment funds, managing over $83 billion. Since 2013, the Fund has invested over $2 billion in Vietnam, with notable projects such as Vincom Retail, BW Industrial, Techcombank, MoMo and recently The Grand Ho Tram and Xuyen A Hospital projects.

Source: https://hanoimoi.vn/thu-tuong-pham-minh-chinh-de-nghi-warburg-pincus-mo-rong-dau-tu-va-thuc-day-thuong-mai-cong-bang-ben-vung-viet-nam-hoa-ky-699443.html