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Politics & Law
Vietnamese-coordinated resolution on Model Law on Automated Contracting approved
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| Prime Minister Nguyễn Xuân Phúc (r) receives Youn Chul Kim, President of Hanwha Techwin, in Hà Nội on Wednesday. — VNA/VNS Photo Thống Nhất |
HÀ NỘI — Prime Minister Nguyễn Xuân Phúc hosted separate receptions in Hà Nội on Wednesday for Youn Chul Kim, President of Hanwha Techwin, and Spencer Damian White, Managing Director of Delta Offshore Energy Pte Ltd.
Receiving Youn Chul Kim, PM Phúc spoke highly of Hanwha Techwin’s plan to expand investment in Việt Nam, especially in the field of high technology.
The PM highlighted Việt Nam’s significant economic growth rate, stable macro-economy, improved business environment and deeper international integration in many free trade agreements, saying these are attractive opportunities for foreign investors to do business in the country and expand production.
He said the Government of Việt Nam will accompany and create optimal conditions for foreign investors to successfully operate in Việt Nam and expected that Hanwha Techwin would become a good example in terms of foreign direct investment in the country.
The PM also expressed hope that besides high technology, Hanwha Techwin would invest in other spheres such as smart city and infrastructure.
Kim said Hanwha is a multinational group and now ranks eighth among companies in the Republic of Korea with total revenue of US$57 billion last year.
The group has to date invested around $800 million in Việt Nam with five subordinate companies, he said, adding it will inaugurate its craft engine manufacturing factory in the country in November.
Kim expressed his wish that the Vietnamese Government would soon grant a certificate recognisng the status of hi-tech business to Hanwha Techwin’s security equipment plant in Bắc Ninh Province and create favourable conditions for the group to expand operations in the fields of finance, consumption and asset management.
At the reception for Spencer Damian White, PM Phúc applauded Delta Offshore Energy Pte Ltd’s investment in a gas-fueled electricity project in the Mekong Delta province of Bạc Liêu, said that ministries, sectors and local authorities will support the implementation of the project.
Việt Nam has encouraged foreign enterprises to invest in energy projects, including renewable, he said, adding that Việt Nam’s demand for power is on the rise, creating more opportunities for in the field.
White said Delta Offshore Energy will speed up the progress of its project in Bạc Liêu once the company receives an investment approval decision.
He expected to continue receiving support from the Vietnamese Government, ministries, sectors and Bạc Liêu authorities so that the project can be started out soon. — VNS
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