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PM supports Goldman Sachs in VN

Update: April, 27/2016 - 10:42
Prime Minister Nguyen Xuan Phuc receives head of the US-based multinational investment banking firm's Asia division Andrea Vella in Ha Noi yesterday. — VNA/VNS Photo Thong Nhat

Viet Nam News -HÀ NỘI — Việt Nam is committed to macro-economic stability and the best possible conditions for foreign investors in the country, including Goldman Sachs, Prime Minister Nguyễn Xuân Phúc told head of the US-based multinational investment banking firm’s Asia division Andrea Vella, during a reception in Hà Nội yesterday.

The PM hoped that as a leading investment bank, Goldman Sachs would share its experience with Việt Nam as well as partner with Vietnamese banks and firms, to build Việt Nam into an investment destination in the region.

Việt Nam needs substantial and long-term capital for infrastructure and encourages direct investment or public-private partnership in rural development and climate change adaptation, he stated.

He hoped that Goldman Sachs would become involved in the equitisation of domestic enterprises as well as in mergers and acquisitions, affirming that Việt Nam welcomes investors who come to learn about the market on the basis of respecting Vietnamese law and benefiting both sides.

Vella, for his part, hailed Việt Nam as an economic success story, saying that its political stability and continuous economic growth are wooing investors globally.

He said Goldman Sachs was calling for investment and co-operation in Việt Nam’s infrastructure ramp-up and working to ensure various projects’ success.

According to him, the giant bank is interested in environmental protection and expects to devise a report assessing the environment impacts of infrastructure projects so as to ensure sustainable development and local livelihoods.

Vietnamese market valued

Earlier on the same day, during a meeting with Chairman of the Party Central Committee’s Commission for Economic Affairs Nguyễn Văn Bình, Vella said Goldman Sachs was committed to lasting cooperation with Việt Nam by constantly seeking long-term international funds for the country’s development.

Vella said he believed in the potential of the Vietnamese market, adding that the company looks to new Public-Private Partnership (PPP) investment opportunities in energy, telecommunication, infrastructure and farming.

Goldman Sachs was particularly interested in projects related to climate change mitigation in the Mekong Delta and waste treatment in big cities, he noted.

Bình said he was pleased with the firm’s long-term commitment to Việt Nam and its sound operation in mergers and acquisitions.

Goldman Sachs also did a good job in attracting funds for several PPP infrastructure projects, he added.

He urged the company to promote Việt Nam’s business climate and expand its operations to more sectors of the local economy. — VNS


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