Expanding a business

Meeting with CEO of Warburg Pincus Charles Kaye, Prime Minister Pham applauded the effective operation and contribution of the fund in the fight against COVID-19 in Viet Nam. Viet Nam became the third investment destination of Warburg Pincus after China and India. Since 2013, Warburg Pincus has poured nearly US$ 2 billion in leading Vietnamese groups and companies, namely Vingroup, VinaCapital, Techcombank, Becamex, and MoMo. Prime Minister Pham Minh Chinh shakes hands with CEO of Warburg Pincus Charles Kaye, New York, May 15, 2022 - Photo: VGP The Prime Minister said that the Vietnamese Government stands ready to hold dialogue with enterprises so as to help them operate successfully in the country, which shows the mutual trust, sincerity, sense of responsibility, and win-win cooperation. He asked American enterprises, including Warburg Pincus, to fully implement their commitments and directly liaise with relevant ministries and sectors of Viet Nam to expand … [Read more...] about PM urges big funds to expand investment in Vietnam

Truong Hung Long, director of the Department of Debt Management and External Finance under the Ministry of Finance. Improving the national credit rating is implemented with a long-term vision to reduce the cost of capital mobilisation, enhance the country's reputation, and meet the needs of socio-economic development in the future. Truong Hung Long, director of the Department of Debt Management and External Finance under the Ministry of Finance, spoke with Vietnam News Agency about the issues. The Prime Minister has just approved a project to improve the national credit rating by 2030. The Department of Debt Management and External Finance is assigned to develop and implement the project. What will the department do to fulfil this task? The Government issued Decision 304/QD-TTg on February 6, 2013 to approve a project on improving the national credit rating. That created favourable conditions for the Government in accessing the international capital market. It is also a way … [Read more...] about Viet Nam promotes solutions to improve national credit rating

A woman shops for fresh fruits at a Winmart store in Ha Noi. — VNA/VNS Photo Tran Viet Domestic purchasing power has rebounded after a strong decline caused by the COVID-19 pandemic. That rebound has facilitated businesses to step up production and seize new opportunities, experts have said. The nation's total revenue from retail trade and services surpassed VND1.77 quadrillion (US$76.2 billion) in the first four months of 2022, up 6.5 per cent year-on-year, the latest report from the Ministry of Industry and Trade (MoIT) showed. In April alone, the revenue also saw a positive yearly rise of 12 per cent to over VND455 trillion, according to the report. These encouraging figures were attributable to abundant good supply and increasing purchasing power in the domestic market, the MoIT said, adding that goods retail sales saw a year-on-year hike of 7.6 per cent to over VND1.42 quadrillion in the four months. Of this, sales of food and foodstuff rose 13.2 per cent year-on-year … [Read more...] about Four-month purchasing power rebound facilitates business recovery

Party General Secretary Nguyễn Phú Trọng (right) had talks with visiting Greek President Katerina Sakellaropoulou in Hà Nội on Monday. — VNA/VNS Photo Trí Dũng HÀ NỘI — Party General Secretary Nguyễn Phú Trọng hosted a reception for visiting Greek President Katerina Sakellaropoulou in Hà Nội on Monday. The Vietnamese Party leader congratulated Sakellaropoulou on becoming the first female president of Greece, and thanked the Greek people for their valuable support for Việt Nam’s struggle for independence in the past as well as the current national construction, especially in COVID-19 prevention and control. He highly valued the outcomes of the Greek leader’s visit, especially the results of the talks between President Sakellaropoulou and her Vietnamese counterpart Nguyễn Xuân Phúc. He expressed his belief that the visit is a milestone in the development of bilateral ties. The Party leader affirmed that Việt Nam attached much importance to its traditional friendship with Greece … [Read more...] about Party leader hosts Greek President in Hà Nội

Prime Minister Phạm Minh Chính (right) had a meeting with Joseph Bae, Co-Chief Executive Officer of the private equity firm Kohlberg Kravis Roberts in New York on May 16. — VNA/VNS Photo Dương Giang HÀ NỘI — Prime Minister Phạm Minh Chính met with leaders of global investment firm Kohlberg Kravis Roberts (KKR) and Visa Group in New York and held phone talks with the Deputy Managing Director of the International Monetary Fund (IMF) during his trip to the US. At a meeting with Joseph Bae, Co-Chief Executive Officer of KKR, on May 16 (US time), the PM asked the firm to share its experience and offer proposals to Việt Nam. Joseph Bae expressed KKR's wish to expand its operation in real estate, infrastructure, digital transformation, food, consumer goods and technology in Việt Nam, noting that the firm had invested more than US$1 billion in three Vietnamese companies. Việt Nam is an attractive market for investors with incentives rolled out by the Government, along with its … [Read more...] about PM meets leaders of investment firm Kohlberg Kravis Roberts, Visa Group in New York

Vietnam continues to benefit from its broad re-opening strategy, which saw a huge crowd flocking to tourist hotspots in the country and household spending rebound. Vietnam’s economic recovery is gaining momentum despite heightened global uncertainty related to the protracted war in Ukraine, higher commodity prices, and tightening global financial conditions, according to the World Bank. Cargo handling at Dinh Vu port, Haiphong. Photo: Cong Hung In its latest report, the World Bank pointed out the robust growth of industrial production by 9.4% in April, comparable to pre-pandemic rates. Manufactures of apparel, footwear, electronics, electrical equipment, and metal products were the most dynamic sub-sectors, registering double-digit growth rates, it added. However, machinery manufacturing slowed from 26.6% year-on-year in March to only 5.1% in April. This deceleration was related to supply chain disruptions caused by lockdowns in China, which led to a … [Read more...] about Vietnam’s economic recovery gaining momentum