Prime Minister Nguyen Xuan Phuc on Wednesday hosted a reception for a multinational business delegation led by former German Vice Chancellor Philipp Rösler. 

Prime Minister Nguyen Xuan Phuc bumps elbows with Philipp Rösler at
the Government Office in Ha Noi on November 25, 2020. Photo: VGP

 The delegation, comprising of investors from Germany, Israel and Switzerland, is on a visit to Viet Nam to explore investment opportunities in the Southeast Asian country.

Rösler, who was elected as chairman of VinaCapital Ventures' advisory board last year, congratulated Viet Nam on successful management of the Covid-19 pandemic thanks to the tireless efforts of the Government and people, becoming a role model for many other countries.

He said the business delegation has initially decided to invest US$350 million in Viet Nam’s priority areas like tourism, digital startup, and manufacturing of personal medical equipment.

The delegation spoke highly of Viet Nam’s business environment, expressing their wish to foster investment cooperation with the country.

Meanwhile, PM Phuc said Viet Nam continues luring foreign direct investment projects in high technology, innovation, support industries and human resource development.

Welcoming the delegation’s aforesaid investment decision, Phuc pledged to protect legitimate rights and interests of foreign investors in the country.

So far, Viet Nam has attracted more than 33,000 FDI projects from 139 countries and territories with total registered capital of US$383 billion.

Despite the Covid-19 pandemic, total foreign investment inflows reached US$23.48 billion in the first ten months this year.

With the projected growth rate of 2-3% this year, Viet Nam will be one of the fastest-growing economies in the region and the world, partly thanks to its adaptability to new situations.

Despite the deceleration in economic activity and the downside risks posed by the Covid-19 pandemic, Viet Nam’s economic growth is projected to remain one of the highest in Southeast Asia, Asian Development Bank Country Director Eric Sidgwick once said.