Vietnam creates optimal conditions for foreign investors: NA leader

Wednesday, 2019-06-12 21:44:10
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Vice Chairman of the National Assembly Phung Quoc Hien (R) received Jerry Cook, Vice President, Government and Trade Relations at Hanesbrands Inc. on June 12 (Photo: VNA)
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NDO/VNA – Vietnam is willing to create favourable conditions for foreign companies, including those from the US, to invest and expand business and production in the country, said Vice Chairman of the National Assembly Phung Quoc Hien.

NA Vice Chairman Hien made the pledge while receiving a delegation from the US-based clothing company Hanesbrands Inc., led by Jerry Cook, Vice President, Government and Trade Relations, in Hanoi on June 12.

Speaking highly of the thriving Vietnam-US comprehensive cooperation and especially bilateral economic ties, the NA Vice Chairman affirmed that Vietnam always regards the US one of the country’s leading trade and economic partners.

Two-way trade surged to more than US$60 billion in 2018 from just US$450 million in 1994, he said, adding that the US has been Vietnam’s largest export market in many years, while Vietnam is among export markets with the highest growth of the US.

NA Vice Chairman Hien told his guests that Vietnam has been paying attention to the development of science-technology and spearhead economic sectors during the process of international integration. The country always welcomes leading firms from the US and expects to build business relations in the global supply chains, he said.

The Vietnamese legislature is working to complete the country’s legal system towards openness, transparency and international standards, NA Vice Chairman Hien stressed.

The lawmaker expressed his hope that Hanesbrands Inc. will further contribute to Vietnam’s sustainable development targets and the enhancement of Vietnam-US economic cooperation.

For his part, Cook said US firms highly evaluated the Vietnamese government’s support in improving the business and investment climate, particularly in terms of tax issues.

Hoping that Vietnam would better join the global production chains, he said Hanesbrand Inc. wants to strengthen cooperation with Vietnam in its plan to expand production in the country.

In Vietnam, Hanesbrand Inc. has two companies in northern Hung Yen and central Thua Thien-Hue provinces, raking in nearly US$400 million from exports. Vietnam is currently Hanesbrand Inc.’s largest production hub in the world, with about 12,000 workers who make 26 percent of its total products.