Vietnam PM asks Warburg Pincus to invest 'further and faster'
Prime Minister Pham Minh Chinh has called on Warburg Pincus to invest "further and faster" in Vietnam, especially in an expressway project it proposed in the south.
Chinh made the suggestion at a meeting with Jefferey Perlman, CEO of Warburg Pincus, a New York-based global private equity firm. Perlman is also chairman of the US-ASEAN Business Council (USABC).
Warburg Pincus recently proposed building a VND17.3 trillion ($677 million) expressway connecting the under-construction Long Thanh International Airport in Dong Nai province with its Grand Ho Tram Strip, a group of integrated resorts and residential developments, in Ba Ria-Vung Tau province, both in southern Vietnam.
Prime Minister Pham Minh Chinh receives Jefferey Perlman, CEO of Warburg Pincus Group and chairman of the US-ASEAN Business Council (USABC), in Hanoi, April 18, 2025. Photo courtesy of the government's news portal.
The cabinet leader asked Warburg Pincus to continue closely coordinating with relevant Vietnamese agencies to soon implement the project.
"This expressway is of great significance in enhancing regional connectivity, promoting the development of high-quality tourism and ancillary services, and maximizing the efficiency of the Ho Tram project which has a very strategic location and great potential to become a major tourist center," he noted.
Building the expressway, the accumulated investment capital of the Ho Tram project might meet the conditions to be granted other favorable policies, under current regulations.
Therefore, the Prime Minister asked Warburg Pincus to continue closely coordinating with the Ministry of Finance, the Ba Ria-Vung Tau People's Committee, and other relevant agencies to report to competent authorities for favorable policy approval, in accordance with the law.
Chinh said he highly appreciates the fund's companionship and sustainable investment over the past decade in Vietnam, including the Ho Tram project, one of the largest resort and entertainment complexes in the country.
The project has made important contributions to tourism development, job creation and budget contribution in the country, he added.
Chinh also noted that he acknowledged the efforts and determination of Warburg Pincus in expanding investment in Ba Ria-Vung Tau and in Vietnam in general, and highly appreciates the proposal on the expressway.
He asked Warburg Pincus to further promote the Vietnam-U.S. trade and cooperation and raise a strong voice with the U.S. government for its soon recognition of Vietnam's market economy status and removal of Vietnam from the list of countries with restrictions on high-tech exports.
"Up to now, Vietnam has basically addressed the concerns of the U.S. side, proactively cutting taxes and purchasing more goods from the U.S. The country is ready to exchange and negotiate with the U.S. on the basis of mutual benefit, towards a sustainable trade balance," the Prime Minister highlighted.
"Vietnam will continue to improve the business environment, reform institutions, build infrastructure, develop human resources, cut administrative procedures, reduce compliance time and costs, bring down logistics costs, and enhance competitiveness for businesses," he added.
In response, Warburg Pincus CEO Jefferey Perlman highlighted that at important moments in the Vietnam-U.S. economic relations, which are developing very strongly, Vietnam has received strong support from U.S. businesses.
He said U.S. businesses consider Vietnam a very reliable partner. Vietnam has been very active in reforming, achieving success in both short and long terms. US investors believe in Vietnam's potential and long-term prospects, he added.
Regarding bilateral trade, Perlman noted that the country has been very active in responding to the concerns of the U.S. side and is continuing to actively remove obstacles for businesses, including US businesses.
He said that Warburg Pincus and he personally, as chairman of USABC, are always ready to provide Vietnam with mutually beneficial solutions on tariffs.
Warburg Pincus is one of the world's leading investment management funds, with over $83 billion worth of assets under its management.
Since 2013, Warburg Pincus has invested more than $2 billion in Vietnam, creating more than 40,000 jobs. Vietnam is the fund's third largest investment market in Asia, after China and India, the Vietnamese government's news portal reported.
In Vietnam, notable projects with investments of Warburg Pincus include Vincom Retail, BW Industrial, Techcombank, MoMo, The Grand Ho Tram, and Xuyen A Hospital.
The investments have demonstrated Warburg Pincus's long-term commitment to contributing to the development of infrastructure, finance, trade, and healthcare in Vietnam.
The Ho Tram project in Ba Ria-Vung Tau is a comprehensive service, tourism and entertainment project with a total investment of $4.23 billion, of which about $1.5 billion has been disbursed.
It has created jobs for more than 2,000 workers and contributed over VND2,200 billion ($85.04 million) to the budget in the past five years.
It is expected that the project will continue to disburse an additional $600 million by the end of 2025, bringing the total investment capital to about $2 billion, the news portal added.
The under-construction Long Thanh airport, located in Dong Nai province, is a mega project with a total investment of VND336.63 trillion ($14.12 billion).
It will be built in three phases, and is set to welcome the first plane to make landing or take off in July 2025.
Once fully completed, the 5,000-hectare airport will be the nation’s biggest, helping reduce overload at Tan Son Nhat International Airport.
Dong Nai, a neighbor of Ho Chi Minh City, is a manufacturing hub in southern Vietnam, together with HCMC, Binh Duong, and Long An.
- Read More
Indonesia resumes int’l carbon trading after 4-year hiatus
Indonesian President Prabowo Subianto has issued a new decree to restart international carbon emissions trading after a four-year hiatus.
Southeast Asia - Thu, October 16, 2025 | 9:23 pm GMT+7
Investors seek 2-year delay for $2.56 bln LNG power project in northern Vietnam, citing equipment hurdles
Investors of a $2.56 billion LNG-fired power plant in Hung Yen province have proposed delaying the project’s commercial operation schedule by two years due to difficulties securing key equipment.
Energy - Thu, October 16, 2025 | 9:04 pm GMT+7
Vietnam to soon raise taxpayers' personal deduction: official
The personal income tax deduction in Vietnam is "very likely" to increase to VND21.7 million ($823,940) per month, including VND15.5 million (588,530) for the taxpayer and VND6.2 million ($235,410) for each dependent.
Finance - Thu, October 16, 2025 | 6:25 pm GMT+7
Business confidence climbs as reforms gain traction amid global headwinds: EuroCham Vietnam
The index climbed to 66.5, surpassing pre-tariffs level and reaching its highest in three years – showcasing resilience and adaptability amid global headwinds and evolving U.S. tariff pressures.
Economy - Thu, October 16, 2025 | 4:36 pm GMT+7
Vietnam's stock market watchdog suspends two Grant Thornton auditors
Vietnam's State Securities Commission (SSC) has suspended two auditors from Grant Thornton Vietnam after determining that the 2024 audited financial statements of Saigon Water Infrastructure Corporation (HoSE: SII) failed to meet required standards.
Finance - Thu, October 16, 2025 | 3:35 pm GMT+7
Law No. 56 a major policy breakthrough for Vietnam's stock market development
The Law No. 56, effective January 1, 2025, is one of the major legal breakthroughs in recent years that will enhance the transparency and operational efficiency of the Vietnamese stock market.
Finance - Thu, October 16, 2025 | 2:30 pm GMT+7
WHA Group breaks ground on smart technology industrial zone in central Vietnam
Thailand's WHA Group on Tuesday broke ground on a world-class, modern, and environmentally friendly industrial zone in central Vietnam, namely the WHA Smart Technology Industrial Zone-Thanh Hoa.
Real Estate - Thu, October 16, 2025 | 2:00 pm GMT+7
Vietnam a key partner in Murphy Oil’s global strategy: exec
Vietnam remains a key partner in Murphy Oil’s global business strategy, said Eric Hambly, the U.S. corporation's president and CEO.
Companies - Thu, October 16, 2025 | 12:06 pm GMT+7
VNPT, Qualcomm debut Vietnam’s 1st original design-based excellence center
State-owned Vietnam Posts and Telecommunications Group (VNPT) and Qualcomm have officially launched the VNPT-Qualcomm Excellence Center (VQEC), the first facility in the country to operate under an original design co-development model using Qualcomm’s core technologies.
Companies - Thu, October 16, 2025 | 8:41 am GMT+7
Indonesia enjoys steady growth in nine months
Indonesia's Ministry of Finance on Tuesday announced the country’s 2025 budget performance as of September, reporting that Southeast Asia’s largest economy continued to post steady growth despite global economic uncertainties.
Southeast Asia - Wed, October 15, 2025 | 9:53 pm GMT+7
Malaysia on progressive path towards AI nation status: experts
Malaysia is on a progressive track towards becoming an Artificial Intelligence (AI) nation by 2030, a goal seen as achievable under Budget 2026 - the Malaysian Government’s fiscal and policy framework for 2026.
Southeast Asia - Wed, October 15, 2025 | 9:44 pm GMT+7
Thailand steps up development of semiconductor industry
Thailand’s Board of Investment (BOI) plans to propose a new national semiconductor and advanced electronics policy board to the government, which will spearhead Thailand’s semiconductor development strategy.
Southeast Asia - Wed, October 15, 2025 | 9:40 pm GMT+7
ASEAN sets ambitious energy targets
Senior energy officials from ASEAN member nations and Timor-Leste on Tuesday convened in Kuala Lumpur, Malaysia, to finalize key outcomes and policy recommendations to be submitted to the 43rd ASEAN Ministers on Energy Meeting (AMEM).
Southeast Asia - Wed, October 15, 2025 | 9:33 pm GMT+7
Sun Group gets nod for $375 mln inland waterway tourism project in central Vietnam
A subsidiary of Sun Group, one of Vietnam’s leading real estate developers, has received approval to invest VND9.88 trillion ($375 million) in an inland waterway tourism project in the central coastal city of Danang.
Industries - Wed, October 15, 2025 | 5:21 pm GMT+7
Vietnamese luxury car dealer Haxaco’s business slumps, stock nears two-year low
The operations of Hang Xanh Automobile Service JSC or Haxaco (HoSE: HAX), known as the largest distributor of Mercedes-Benz vehicles in Vietnam, are under pressure as consumers tighten spending and competition among car brands intensifies.
Companies - Wed, October 15, 2025 | 5:13 pm GMT+7
Vietnam sets 2026 GDP growth target at 10%
The Vietnamese Government has set the targets for economic expansion in 2026 at about 10% and inflation at 4.5%.
Economy - Wed, October 15, 2025 | 4:28 pm GMT+7




















