PM woos US investors with securities market appeal

08:34 | 16/10/2018 Cooperation

(VEN) - Addressing dozens of leading business executives in New York last month, Vietnamese Prime Minister Nguyen Xuan Phuc highlighted the great potential of his country’s securities market - one of the world’s fastest growing.

pm woos us investors with securities market appeal
Prime Minister Nguyen Xuan Phuc (first row, middle) and Minister of Industry and Trade Tran Tuan Anh (second row, third from the right) at a meeting with US business representatives

The meeting with investors and business representatives was held on the sidelines of PM Phuc’s address to the 73rd UN General Assembly in which he described Vietnam’s success in eradicating hunger and poverty and underscored its potential for progress in digitalization and commerce.

Addressing leaders and representatives of 193 UN member nations, the PM noted that his country was one of the few that had accomplished many of the Millennium Development Goals set by the UN for 2015, especially in terms of hunger eradication and poverty reduction.

The head of the Vietnamese government also highlighted Vietnam’s active and responsible contributions to the international community.

Phuc, joined by Minister of Industry and Trade Tran Tuan Anh, participated in a dialogue with more than 40 leading US and other foreign investors in various fields, such as information technology, telecommunications, retail, food, finance, banking and food.

He urged investors to indicate problems facing their operations in Vietnam, as well as the fields in which they need mechanism and policy support from the Vietnamese government. US companies were also asked to propose ideas to help Vietnam achieve breakthroughs in finance, education, healthcare and smart agriculture.

PM Phuc affirmed the Vietnamese government’s willingness to create favorable conditions for foreign investors, including those from the US.

Regarding opportunities for investors in Vietnam in the context of the Fourth Industrial Revolution, PM Phuc said Vietnam has great potential to develop e-commerce and a digital economy as it is one of the world’s top 20 countries in terms of the number of internet users, with 4G networks covering 90 percent of its population. Vietnam is also one of the world’s three fastest-growing e-commerce markets, with an annual growth rate of 69 percent.

Vietnam is expected to top the list of Asian countries in terms of the number of smart phone users by 2020, with eight out of 10 people. It has abundant human resources with young workers accounting for the highest percentage compared with other ASEAN countries. In the era of Industry 4.0, computing skills, logical thinking and imaginative capability are special advantages of the Vietnamese young generation.

US companies expressed optimism about investment and business opportunities in Vietnam, noting that many US investors have been operating in Vietnam for several decades.

Business leaders told their Vietnamese guests they had been impressed by the success of the World Economic Forum on ASEAN 2018, which took place recently in Hanoi. They expressed their willingness to cooperate with Vietnamese partners in the fields of digital economy, digital connection and e-government.

On the sidelines of the General Assembly, PM Phuc also met with Assembly President Maria Fernanda Espinosa Garces and UN Secretary General Antonio Guterres, the President of the Cuban Council of State, the presidents of Croatia, Fiji, Saint Lucia, and the prime minister of Bulgaria. The talks focused on measures to promote Vietnam’s cooperation with the UN and its bilateral relations with other countries.

Nguyen Huong