PM Chinh hosts leader of Kohlberg Kravis Roberts investment firm

KKR, one of the world's leading investment companies with total assets valued at US$528 billion, has injected more than US$2 billion into Vietnam through investments in major corporations such as Masan, Vinhomes, Equest, KiotViet, and most recently Saigon Medical Group (MSG).

During his second visit to Vietnam and meeting with the Vietnamese PM, Petraeus showed his desire to further enhance cooperation between KKR and Vietnam.

Welcoming Petraeus back to Vietnam, the cabinet leader congratulated and hailed the global successes of KKR, including its investments in Vietnam. He highlighted that since Vietnam and the US established a Comprehensive Strategic Partnership, bilateral economic and trade relations have continued to grow steadily.

Over the past 20 years, the US has been Vietnam's largest export market, and Vietnam has become the 7th largest trading partner of the US, and also its largest partner in ASEAN. The US's direct investment in Vietnam is estimated at US$ 11.94 billion, with over 1,400 projects, ranking 11th among foreign investors in the Southeast Asian nation.

Acknowledging the huge potential for economic, trade, and investment cooperation between the two countries, particularly for increased US investments in Vietnam, the PM encouraged US investors to intensify new investments and expand existing ones in Vietnam, thus enabling the US to become one of the largest foreign investors in Vietnam.

PM Chinh reaffirmed Vietnam’s commitment to building an independent and self-reliant economy while deeply integrating into the global economy and adhering to its “Four No’s” defence policy. He laid stress on Vietnam’s efforts to maintain macroeconomic stability, a peaceful environment, national security, and social order to ensure a favourable climate for investors.

Highlighting Vietnam’s three strategic breakthroughs, Chinh underlined the importance of US investments and projects. He reiterated Vietnam’s readiness to listen to, engage in dialogue, and address any obstacles to improve the business environment and create optimal conditions for US enterprises to succeed in Vietnam.

He also called for closer collaboration between KKR and Vietnamese ministries and sectors to explore investment opportunities and enhance connections between Vietnam and KKR’s global partners.

On this occasion, the Vietnamese cabinet leader asked Petraeus to back the US government's cooperation with Vietnam. He also urged the US to support sustainable economic-trade-investment collaboration, recognize Vietnam as a market economy, and remove restrictions on high-tech exports to Vietnam. He also requested that the US refrain from trade defence measures against Vietnamese exports or any actions that could negatively affect the flourishing relationship between the two countries.

In reply, Petraeus agreed with the PM’s proposals and showed his elation at the continued sustainable development of bilateral economic and trade relations following the establishment of the Vietnam-US Comprehensive Strategic Partnership.

Congratulating the Government of Vietnam and the US-based NVIDIA Corporation on signing a cooperation agreement to establish NVIDIA's Research and Development Centre for Artificial Intelligence (AI) and an AI Data Centre in Vietnam, Petraeus said that the KKR investment fund boasts huge potential and pays attention to investment in this sector in Vietnam.

Highly appreciating Vietnam's investment environment, characterised by an abundant labour force, increasingly modern and synchronised infrastructure, stable political, security, and defence conditions, and the government’s receptiveness to the voices of businesses, Petraeus suggested Vietnam further revising its business and investment environment by improving infrastructure, streamlining administrative procedures, and bettering conditions that enable businesses, including KKR, to invest more effectively, sustainably, and  in the long run.