PM affirms support for US investments in Viet Nam

Thursday, Jan 12, 2017 16:11

Prime Minister Nguyen Xuan Phuc and Philip Falcone, the Chairman US’s Harbinger Capital Partners LLC. — Photo VNA

Prime Minister Nguyen Xuan Phuc on Thursday asked the US’s Harbinger Capital Partners LLC (Harbinger) to expand investments in Viet Nam.

Receiving the fund’s chairman, Philip Falcone, in Ha Noi yesterday, Phuc stressed the importance of Viet Nam’s relationship with the US and said he expected bilateral co-operation to grow, especially in trade and investment.

He appreciated Harbinger’s investment operations in Viet Nam and expressed his hope that the fund would encourage US businesses to pay more attention to strengthening investments in the Vietnamese market. It’s necessary to take use of new opportunities to deepen the comprehensive partnership between Viet Nam and the US, he said.

Phuc also informed the chairman about policies that created a favourable investment environment for foreign investors in Viet Nam.

He asked Falcone and US businesses to actively support Viet Nam as it hosts the Asia-Pacific Economic Co-operation (APEC) 2017 summit.

Falcone informed the Prime Minister of the progress in the US$4.2 billion Ho Tram resort project in southern Ba Ria-Vung Tau Province.

The resort complex, the biggest foreign investment project in Viet Nam’s tourism sector, is expected to create about 4,000 jobs.

Falcone said his fund was planning to expand and strengthen co-operation and investments in Viet Nam. It would also work actively to boost US investment in Viet Nam, contributing to developing economic, trade and investment co-operation between the two countries, he said.

He hoped that the Vietnamese Government would continue creating conditions for the US firms, including Harbinger, to maintain long-term investments in Viet Nam.

Harbinger Capital Partners LLC is a private hedge fund based in New York. The firm makes its investments focusing on “distressed opportunities, event-driven situations, restructurings, capital structure arbitrage, and short sales of securities.” — VNS

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