US businesses eye increased investments in private sector

US businesses want to increase their investments in Vietnam’s private sector to lift total investment to US$500 million over the next three years, said Elizabeth L. Littlefield, the Chief Executive Officer and President of Overseas Private Investment Corporation (OPIC).

Mrs Littlefield who led an OPIC delegation to visit Ho Chi Minh City recently told the media that under President Obama Administration, total OPIC investment into Asia tripled to US$4 billion, however, US investments in Vietnam remained modest with only several major projects.

In the new context of Vietnam gradually joining the global supply chain, US investors have showed their keen interest in the lucrative market, especially in renewal energy, agriculture and information technology.

Mrs Littlefield said she had learned about the reason why numerous US-invested projects have not yet got underway in such a potential market like Vietnam.

The OPIC representative said her organization only provides financial resources for private projects which meet Vietnam’s development criteria, have feasible business plans with good partners, strictly follow rules for labour safety and environment protection and have not yet received capital from any commercial banks.

It is worth noting that these projects must be invested by US businesses, she noted, adding that OPIC can provide flexible investment capital levels ranging from 1 million to hundreds of millions of USD.

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