Deputy Prime Minister Vuong Dinh Hue on December 17 hosted receptions for U.S. top enterprises including Vice President of Nike Chris Helzer and President of Warburg Pincus Timothy Geithner in Ha Noi. 

Deputy Prime Minister Vuong Dinh Hue receives Vice President of Nike Chris Helzer,
Ha Noi, December 17, 2019 - Photo: VGP

Currently, the Nike manufacturing plant in Viet Nam, the largest and most crucial plant of the corporation in the world, is creating 500,000 jobs in the country. Every year, as many as 300 million pairs of shoes are produced, making an export value of US$6.7 billion in 2019. 

Chris Helzer said that Nike will celebrate the 25th anniversary of its operation in Viet Nam in 2020, the year marking the 25thanniversary of the normalization of Viet Nam-U.S. relations.  

He referred some proposals on training high-tech human resource working at Nike production plant in Viet Nam, suggesting Viet Nam facilitate the corporation to sign contracts on using renewable and environmentally-friendly energy. 

For his side, Hue asserted that the Vietnamese Government is determined to boosting the administrative reform and developing business, especially with those from the U.S., adding that Viet Nam will continue making  policies and priorities for high-tech and environmentally-friendly projects and encourage foreign enterprises to transfer technology for Vietnamese partners. 

He expressed his hope that Nike will expand the list of material used in Viet Nam, increase the localization proportion and support Vietnamese firms to improve their development capacity. 

Hue asked the corporation to consider providing exclusive products for SEA Games 31, which will take place in Viet Nam by 2021, affirming that the Government is willing to tackle obstacles and create favorable conditions for the long-term and sustainable development of Nike in Viet Nam.  

Deputy Prime Minister Vuong Dinh Hue receives President of Warburg Pincus
Timothy Geithner, Ha Noi, December 17, 2019 - Photo: VGP

VN commits to expanding financial service 

During the reception for President of Warburg Pincus Timothy F. Geithner, Deputy PM Hue expected that Warburg Pincus will continue pouring more investment in such areas as infrastructure, high-tech, new material, renewable energy, auxiliary industry and information technology. 

Timothy F. Geithner highly appraised Viet Nam’s efforts in improving the business and investment environment, developing financial services, including new areas of digital banking and e-payment. 

He proposed the Government increase the proportion of foreign ownership at commercial banks to attract more foreign investment and facilitate non-cash payment in the country. 

Viet Nam commits to welcoming foreign investors, particularly ones operating in sectors and services in line with roadmaps set in the inked multi-lateral and bilateral free trade agreements.