Vietnam, bright star of world economy: US businessmen

16:34' 20/06/2007 (GMT+7)

VietNamNet Bridge – Vietnam is creating the most favourable conditions for foreign investors. Vietnam will be surely a trustworthy address for effective investment. That’s the strong message that was sent by the Vietnamese President to American investors at the “Financial investment in Vietnam” forum held in New York on June 19. President Nguyen Minh Triet at the forum. The Vietnamese President and his entourage attended the forum and witnessed the signing of many financial investment cooperation documents between Vietnamese and American companies. The forum, held by the AIG insurance group, Credit Suisse financial group, and the Vietnam Chamber of Commerce and Industry (VCCI), drew the attendance of senior officials of big groups in the US. Mr Triet delivered a speech at the forum and hailed the efforts of the three organisers. In his speech, Mr Triet introduced Vietnam as a rapidly developing economy and said that Vietnamese people were hardworking and friendly. Vietnam needs capital to develop its economy and all foreign investors are welcome in the country. On behalf of the Vietnamese state, the President delivered a message to American businessmen: “Vietnam is creating the most favourable conditions for American investors as well as foreign investors to do business in Vietnam. Vietnam will surely be a trustworthy address for effective investment. “Today, talking about Vietnam is no longer talking about war, but a dynamic, promising and developing economy in Southeast Asia. Talking about Vietnam is talking about the more trustworthy investment environment, attractive investment-calling programmes and policies. The Vietnamese Government and related agencies always attach importance to the interests of investors. Go to Vietnam to see a friendly country, friendly people and you will want to invest more. Go to Vietnam to see with your own eyes what I’ve told you. Vietnam expects to welcome investment from American businesses,” Mr Triet emphasised. “President Bush on his visit to Vietnam last year was impressed by Vietnamese people. In the talk with me, he said that he was surprised that Vietnamese people are so friendly and hospitable. Seeing the friendliness of Vietnamese people and good security in Vietnam, President Bush didn’t worry about stretching his body over the car door to wave his hands at Vietnamese people. Australian Prime Minister John Howard wore sportswear to run around Hoan Kiem Lake. That’s the image of today’s Vietnam and the Vietnam of the future,” President Triet added. Mr Triet also praised the US people as open, dynamic and hospitable people and the US as a developed country with highly developed science and technology. “American investors will have many conditions to bring into play their advantages in Vietnam,” he said. Jeffrey Shafer, Vice Chairman of Citigroup, on behalf of American financial investors, hailed the visit of President Triet to the US. The presence of Mr Triet at the forum is the clearest evidence for the attention of the Vietnamese government to investors. He also said that the visit would pave the way for international financial investors to strengthen their presence in Vietnam. “Vietnam is expanding this market to the world and we believe that Vietnam will record impressive results. The Vietnamese government has made a strong commitment to supporting economic development. Vietnam is a rapidly developing and dynamic economy, a real player, and a bright star of the world economy. As a new star, Vietnam’s predicted growth rate this year is 8.5%. American financial investors are really impressed by Vietnam’s achievements,” Mr Shafer said. “We, financial investors, are ready to go with Vietnam in the cause of development… We are proud to contribute to the development of Vietnam and participate in development programmes. Investors are wiling to invest more into the developing stock market of Vietnam,” he added. Before going to the forum, President Triet witnessed the signing of many important cooperation agreements worth more than US$2 billion with American partners and other partners. Specifically, the Bank for Agriculture and Rural Development of Vietnam (Agribank) signed four cooperation agreements worth $1.55 billion with Wachovia Bank, the UK’s Standard Chartered Bank, and Austria’s RZB Bank. Tuan Nguyen (from New York)