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US official upbeat on business climate
A senior official from the US Government's development finance agency has expressed optimism about the investment climate in Viet Nam.
"US businesses, because of the economic slowdown, are looking for opportunities internationally, and as they look for those opportunities, particularly in Asia, I think Viet Nam is a very attractive place for that investment," said Dr. Lawrence Spinelli, public affairs director at the Overseas Private Investment Corporation (OPIC).
"That is not just because of the size of the country or the market, which is significant, but also because of the regional opportunities that are provided for any US investors coming to Viet Nam."
Speaking to the media in HCM City on Wednesday, he listed tourism, infrastructure and renewable energy as possible areas for the US and Vietnamese businesses to co-operate.
"I think, first of all, there is great potential in tourism. It is a sector I would put very much near the top.
The second area which is in some way connected with tourism would be infrastructure. We have opportunities here."
Another priority for OPIC in Viet Nam was renewable energy, he said.
"There is great potential and opportunities for renewable energy investment in Viet Nam."
Spinelli was in Viet Nam to publicise the 7th annual international investment conference to be held in Jakarta, Indonesia, in May.
The conference, the first of its kind in Southeast Asia and to be held from May 3-5, will target emerging markets in the region including Viet Nam and connect US and regional investors, financial institutions, private equity managers, local partners and government officials.
The conference would focus on sectors like tourism, IT, infrastructure and transportation and energy, particularly renewable and clean energies, Spinelli said.
More than 250 business executives from around the world are expected to attend the conference, including from giants like General Electric and Proctor and Gamble.
Spinelli said OPIC could help Viet Nam tap its great potential through the conference where he hoped many Vietnamese businesses would meet US investors.
OPIC could also assist Viet Nam by providing finance to partnerships between Vietnamese and US companies, he added.
OPIC is now providing US$5 million for an aquaculture project in Nha Trang, central Khanh Hoa Province.
Established as an agency of the US government in 1971, OPIC helps US businesses invest overseas and foster economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports US foreign policy.
It provides loans of $100,000 to $250 million and has assisted businesses in Viet Nam since the mid-1990s.
Thanh Hieu
vietnamnews
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