PM hails US investment in Viet Nam

Friday, Jan 13, 2017 09:16

Prime Minister Nguyen Xuan Phuc asked Harbinger Capital Partners LLC (Harbinger) to expand investments in Viet Nam. — Photo

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

Receiving the company’s chairman, Philip Falcone, in Ha Noi yesterday, Phuc stressed the importance of Viet Nam’s relationship with the US and said he expects 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 host about policies that create 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 the southern province of 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 into 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. It makes its investments focusing on “distressed opportunities, event-driven situations, restructurings, capital structure arbitrage, and short sales of securities.” — VNS

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