Large US businesses interested in investing in Vietnam: Warburg Pincus exec
Warburg Pincus, one of the leading U.S. investment funds, will further expand its investment portfolio in Vietnam, and many other large American businesses are also interested in the Vietnamese market, said CEO Charles Kaye.
Kaye made the comment during a meeting with Vietnam’s Deputy Prime Minister Le Minh Thai in Hanoi on Friday. He expressed his impression of the results Vietnam has achieved, especially in stabilizing the macroeconomic situation.
The deputy prime minister said Warburg Pincus has confirmed its position as one of the leading investment funds in Vietnam, with total investment of over $2 billion after 10 years. He suggested that Warburg Pincus continue acting as a bridge to bring U.S. investors in particular and foreign investors in general to Vietnam.
Vietnam’s Deputy Prime Minister Le Minh Khai meets Charles Kaye, CEO of Warburg Pincus in Hanoi, November 10. Photo courtesy of the government's news portal.
Warburg Pincus has invested in many Vietnamese businesses, including Techcombank, Vincom Retail, Novaland, and MoMo.
According to Khai, trade and investment relations are the driving force behind promoting Vietnam-U.S. bilateral relations. In 2022, two-way trade continued to grow strongly, with turnover of over $123 billion, an increase of 11% compared to 2021.
As of August 20, 2023, the U.S. had had 1,300 direct investment projects in Vietnam, with registered capital of $11.8 billion, ranking 11th among biggest investors in the Southeast Asian country.
Vietnam and the U.S. raised bilateral ties to a comprehensive strategic partnership, the highest in Vietnam’s diplomatic hierarchy, during President Biden’s state visit to Hanoi in September this year. The upgrade takes Vietnam-U.S. relations on a par with Vietnam's relationships with China, Russia, India and South Korea.
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