Blackstone, Warburg Pincus want to expand investment in Vietnam

General Secretary andPresident To Lam received Mr. Stephen Schwarzmann - Chairman, CEO and Founder of Blackstone Investment Fund - Photo: VNA

Receiving Mr. Stephen Schwarzmann - Chairman , CEO and Founder of Blackstone Investment Fund, General Secretary and President To Lam emphasized that science, technology and innovation have been identified by Vietnam as important growth drivers for the new period and therefore hopes that Blackstone will expand its investment in Vietnam in this field to connect and provide capital for technology enterprises and startups in Vietnam.

Pointing out that green growth and sustainable development are important pillars in Vietnam's development orientation in the current period, the General Secretary and President affirmed that Vietnam identifies foreign investors as having a major role in implementing the above goals, and expressed hope that Blackstone, with its network of partners and customers with influence and capacity in this field, will support Vietnam in accessing preferential credit financial sources, serving as a bridge to bring foreign investors to Vietnam to invest in green and sustainable development fields.

The General Secretary and President highly appreciated Blackstone’s plan to invest in developing energy conversion projects in Vietnam; suggested that the group discuss and coordinate with the Ministry of Industry and Trade and relevant agencies and partners to implement investment activities in this field.

Stating that Blackstone is the largest investment fund in the world with total assets under management of more than 1,000 billion USD, Mr. Stephen Schwarzmann expressed his desire to expand investment in Vietnam.

He also said Blackstone has entered the AI ​​data center race, an area that Vietnam has a strategy to develop.

General Secretary and President To Lam received Mr. Jake Siewert - CEO of Warburg Pincus Investment Fund - Photo: VNA

Receiving Mr. Jake Siewert - CEO of Warburg Pincus , one of the oldest and largest private equity funds in the world, the General Secretary and President welcomed and highly appreciated the effective investment and business cooperation activities of Warburg Pincus globally in general and in Vietnam in particular in recent times.

According to the General Secretary and President, Vietnam has announced a plan to mobilize resources to implement the Political Declaration on establishing the Just Energy Transition Partnership (JETP), contributing to realizing the goal of net zero emissions by 2050.

Therefore, Vietnam welcomes cooperation proposals to promote green financial capital flows and hopes that Warburg Pincus will connect and work with domestic partners to implement specific cooperation projects in areas such as renewable energy, new energy, upgrading power grid infrastructure, carbon recovery and storage, developing an ecosystem for manufacturing energy storage equipment, improving management capacity, and training human resources.

Regarding proposals related to specific projects in the tourism sector, the General Secretary and President requested Warburg Pincus to continue coordinating with domestic partners to work directly with relevant ministries, branches and localities to remove difficulties and obstacles in accordance with legal regulations.

Expressing his honor that General Secretary and President To Lam took the time to receive him, Mr. Jake Siewert, CEO of Warburg Pincus, said that to date the group has invested about 4 billion USD in Vietnam, making Vietnam the third largest investment destination in Asia for Warburg Pincus (after China and India).

At the meeting, Warburg Pincus leaders expressed their desire to learn more and continue to invest more, sincerely thanking the Vietnamese side for actively engaging in dialogue to resolve difficulties.

Warburg Pincus also expressed interest in cooperation to attract green financial capital, Power Plan 8, renewable energy... in Vietnam.

Also present at the meeting and accompanying the Warburg Pincus delegation, US Ambassador to Vietnam Marc Knapper said his presence demonstrated the US Government's support for Warburg Pincus' activities. The US side will always maintain a positive spirit of dialogue and resolve any difficulties and problems that may arise.

Source: https://tuoitre.vn/blackstone-warburg-pincus-muon-mo-rong-dau-tu-vao-viet-nam-20240924104915532.htm