Vietnam promotes investment opportunities in United StatesThursday, November 16,2023
AsemconnectVietnam - With a strategic investment position and strong development potential, Vietnam is keen to invite international investors, especially those from the United Staes, to become partners in order to realise the country’s future growth prospects, said Minister of Finance Ho Duc Phoc at an investment promotion conference held in Los Angeles on November 14.
Addressing the conference themed “Vietnam - Bright growth prospects”, Phoc emphasised that the participation of international investors, businesses, and financial institutions affirmed their commitment to accompanying the Vietnamese Government and Ministry of Finance on the country’s bright development track.
The minister briefed briefed participants on the positive signs in the Vietnamese macroeconomy, the Government's development policies, and the implementation of the socio-economic development strategy, saying over recent years, despite the global economy’s headwinds, Vietnam has emerged as an economy has maintained stable growth and effectively kept inflation in check.
The country has achieved remarkable export growth through diversifying partners and industries, attracting foreign direct investment (FDI) thanks to incentive policies for investors, and stimulating domestic demand, he said.
Improved spending capability, low public debt, along with ample fiscal space therefore represent fundamental advantages for Vietnam as it strives to maintain long-term growth prospects, he noted.
The country is expected to record GDP growth of approximately 5% this year, with inflation being projected to increase by 3.5%.
Furthermore, the country will continue to pursue its goal of exploring the potential for further economic growth by synchronously upgrading infrastructure, and ensuring clean energy and energy security, the Minister stressed.
To combat climate change, he said Vietnam made strong commitments to cutting emissions to net zero by 2050 at the 26th UN Climate Change Conference (COP26) in the UK in 2021. To fulfil this goal, the country will continue to mobilise domestic and international resources to invest in spheres that require a shift in a green and clean direction.
At the conference, Minister Ho Duc Phoc answered executives’ questions related the business and investment environment in Vietnam.
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