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8/15/2018 1:50:00 PM

Vietnam ready to offer optimal conditions for foreign investors

Prime Minister Nguyen Xuan Phuc has affirmed the Vietnamese Government’s commitment to creating favourable conditions for foreign investors to do business in the country.

On August 14, Prime Minister Nguyen Xuan Phuc hosted receptions in Hanoi for Mike Spanos, CEO of the Asia, Middle East, and North Africa unit of the US-based PepsiCo, Inc, and Sarath Ratanavadi, founder and CEO of Thailand’s Gulf Energy Development.

At the meeting, PM Phuc congratulated PepsiCo on its successful business investment in Vietnam over the past years and highly appreciated the cooperation between PepsiCo Vietnam and the Ministry of Agriculture and Rural Development through their participation in a Public-Private Partnership on Fruit and Vegetables since 2010.

The partnership has created a sustainable supply chain based on a cooperative platform for trade promotion, thus opening up plentiful opportunities for improving the living standards of hundreds of farm households and developing local communities as contributions to Vietnam’s sustainable agricultural development.

He applauded PepsiCo for expanding the potato cultivation area in the central highlands province of Lam Dong from 55 hectares to over 450 hectares and updating farmers on farming techniques, which has helped to increase potato output by nearly three times compared to average yield.

Gifting Mike Spanos artichoke tea- a healthy product of Da Lat, Phuc said he hopes PepsiCo Vietnam will do research to create more high added value products like artichoke, thus benefiting both PepsiCo and Vietnamese farmers.

For his part, Mike Spanos thanked the Vietnamese Government and the Prime Minister for facilitating his corporation’s operations in Vietnam and extolled the economic achievements Vietnam has recorded over the past years, especially in economic growth.

Mike Spanos said Vietnam is one of the 20 top priority markets of PepsiCo globally, and ranks 8th in the region he is in charge of.

PepsiCo has invested upwards of US$500 million in Vietnam for the past five years, providing jobs for 3,000 workers, including 99.8% Vietnamese. PepsiCo Vietnam has carried out a cooperation program with 580 farm households to help them increase their productivity and income, and apply business measures for saving nearly 1 million liters of water. PepsiCo always wants to do long-term business in Vietnam, covering beverages, food and some other fields, he said.

The government leader proposed PepsiCo bring into full play what it has achieved in producing high added value products using high technology for saving materials and natural resources. He expressed hope that the corporation will expand cooperation on project implementation with the MARD and farmer households in many areas of Vietnam’s strength, thereby helping to create an important combination between PepsiCo’s global distribution chain and traditional products of Vietnam.

The PM suggested Pepsico continue to expand production and business activities and apply advanced technology to PepsiCo invested projects in Vietnam. He also reiterated the Government of Vietnam’s readiness to offer favorable conditions for investors in Vietnam, including PepsiCo.

Receiving Sarath Ratanavadi, the cabinet leader reaffirmed the Vietnamese Government has always created the best conditions for foreign businesses to invest in the country. This is one of the reasons why numerous Thai businesses have chosen to land investment in the Vietnamese market with 492 projects worth US$10 billion.

The PM underlined Vietnam’s policy of welcoming investment in renewable and clean energy, adding that the country needs more abundant energy to meet its economic development and this is a good opportunity for the Thai company.

In reply, Sarath Ratanavadi said his company has started to invest in Vietnam through a solar power project with a capacity of 100MW.

The company will continue to research and expand investment activities in the field of solar power in Vietnam in the coming time, he said while showing his belief that Vietnam’s incentive policies will bring success to many projects, which will help to attract greater foreign investments in the country.




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