Vietnam PM calls for US investment in startups, innovation during Nasdaq visit

Ringing the opening bell at the Nasdaq Stock Market on Friday, Vietnamese Prime Minister Pham Minh Chinh called on U.S. companies to invest in priority fields of the Southeast Asian country that has one of the fastest-growing economies in Asia.

Chinh encouraged U.S. investment in areas that Vietnam has strong demand for and the U.S. has advantages in such as digital transformation, green transformation, circular economy, sharing economy, knowledge-based economy, science-technology, innovation and entrepreneurship.

The Vietnamese leader asked the Nasdaq to enhance cooperation with Vietnam’s State Securities Commission (SSC), the country’s stock market watchdog, and other agencies for the benefits of the two nations and the region.

VinFast, Vietnam’s pioneering electric vehicle manufacturer and a subsidiary of the country’s largest private conglomerate Vingroup, last month listed on the Nasdaq Global Select Market following a business combination with SPAC Black Spade Acquisition Co.

Speaking at the bell ringing ceremony, Robert McCooey, Nasdaq’s vice chairman, expected to welcome more companies from Vietnam to the Nasdaq, a beacon for high-tech stocks.

After the bell ring ceremony, Chinh worked with Nasdaq officials to provide insights into Vietnam's priorities, policies and incentives to attract investment from leading international corporations.

The government chief pledged to create the most favorable conditions for investors, accelerate administrative reforms, and protect their legitimate interests.

On this occasion, the Nasdaq and SSC signed a letter of intent to bolster ties.

Prime Minister Chinh on Wednesday also rang the opening bell at the New York Stock Exchange (NYSE) and touted its role in driving U.S. corporate investments in Vietnam.