The roadshow has welcomed Mr Marc Mealy – Vice President of US - ASEAN Business Association; Mr. Wilbur L.Ross, Jr. - WL Ross & Co; Mr. Philip A Falcone – Founder Harbinger Fund together with 150 representatives from billion- US Dollars- funds and financial institutions such as HSBC, Citigroup, Blackstone, Warburg Pincus, Manulife Global, Capital Groups Companies Inc., those are attracted to investment in Viet Nam.
Ater 20 years of normalization of relation between the U.S and Viet Nam, 15 years of bilateral trade Agreement, the economic- investment - finance and trade relation between the two countries has been rapidly developing. During the state visit of President Truong Tan Sang to the U.S in 2013, the bilateral relation had been leveled up to the comprehensive partnership relation. In order to create a significant dialogue between the Vietnamese Government and the U.S investors so as to help the investors deeply understand the current situation in Viet Nam as well as the policy and the effort to innovate of the Government; moreover, to strengthen the entrust of investors to Vietnamese market, the Ministry of Finance of Viet Nam has collaborated with the U.S partners to officially convey the message “My Viet Nam – Your Investment Destination” by the roadshow. Of which, the two dialogue channels have been appreciated by investors.
Regarding the policy dialogue between the policy makers and investors, the update information on investment in Viet Nam in general and indirect investment in Viet Nam via securities market in particular, the undertakings to encourage equitization of state enterprises in associated with securities market, government bond market development, and the policy for TPP has been clearly delivered to investors. In reverse, the dialogue channel is such an approach to perceive the recommendations and comments from investors so as to complete policy by date. At the dialogue, Minister Dinh Tien Dung and his fellows has delivered the update policy focusing on innovate state enterprises and equitization; policy to welcome investors to the securities market, tax policy to encourage investment, government debt management in an active manner, and a prudent approach to macroeconomic sustainability and feasible encouraging growth.
Speaking at the Roadshow, Minister Dinh Tien Dung affirmed the undertakings and effort of the Government to create an advantageous investment environment for both foreign and domestic investors. He also impressed on those commitments to the U.S investment to Viet Nam, and strengthened the trust of investors to the potential of Vietnamese market and the appreciation of Vietnamese Government to the U.S investors as well. The fact that Government decree 60/2015/ND-CP has just been released, which is amended and supplemented to the Decree 58 to give guidelines to the Securities Law aiming at encouraging the capital inflow, rising the foreign ownership in the public enterprises to the unlimited level in accordance with WTO, except for some limited fields or conditional business.
In his speech, he affirmed ‘the roadshow is such an opportunity for Viet Nam to build up a comprehensive and larger scale partnership in the financial sector with the U.S for mutual benefits”.
Another dialogue between the Vietnamese enterprises and the U.S investors has followed the track that actual U.S investors shared their own experience in doing business in Viet Nam; furthermore, Vietnamese enterprises (including listed companies and equitization enterprises) demonstrated opportunities to invest in Viet Nam and impressed the important roles of foreign investors to do the job well. The dialogue helps display the measures to create a transparent equal and feasible investment environment for investment in Vietnamese securities market.
By their own experience, several investors appreciated the attraction and competitiveness of Vietnamese market, especially the Government’s commitment to encourage institution innovation and investment environment. They also applaused the undertakings of building up partnership and co-orperation between foreign and domestic investors and the positive listening to the recommendations of investors to complete the frameworks and institutions for a better feasible investment environment in Viet Nam.
Over the last 20 years, based on the bilateral diplomatic relationship, the economic-investment-financial and trade relation between Viet Nam and the U.S has been developing. The bilateral cooperation dialogue in all fields, especially in financial sectors in recent years has been experiencing the blooming, and the U.S is always regarded as one of the biggest investors in Viet Nam. Up to February 2015, the foreign direct investment from the U.S in 729 projects in Viet Nam with total capital inflows accounts for 11 billion U.S Dollars, ranking 7 out of 101 countries and states and recording the high volume of average capital investment, about 15.35 millions U.S Dollars per each.
The trade volume between the two countries has been increasing. In 2014, the export value from Viet Nam to the U.S reached 29 billion U.S. Dollars, equivalent to 36 fold higher than that of 2000. Viet Nam became the largest exporter from ASEAN to the U.S market and is forcasted to increase in the coming years together with higher value added.
Following the strong and comprehensive development, especially economic-finance cooperation between the two countries in the last few years, the potential of capital inflows into Vietnam is hopefully estimated to be increased.
The year 2015 is such a milestone for the 20 year relationship between Viet Nam and the U.S. This roadshow “My Viet Nam – Your Investment Destination” is the platform for Vietnamese enterprises to meet potential partners in the U.S. This would be the frequent dialogue in the future in order to strengthen investment and trade relationship between the two countries, contributing to the comprehensive partnership as well as higher level cooperation of the two Governments and a deeper cooperation in financial sector, for the ultimate benefits of the two countries.
Translation Huyen Thanh
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