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Proposing the United States to soon recognize market economy status for Vietnam

Việt NamViệt Nam05/03/2024

On the afternoon of March 4, at the Government Headquarters, Deputy Prime Minister Tran Luu Quang received Mr. Nitin Darbari, Senior Vice President of Procter & Gamble (P&G) Group in the region, who is on a working visit to Vietnam.

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Deputy Prime Minister Tran Luu Quang and Mr. Nitin Darbari, Senior Vice President of P&G Group in the region - Photo: VGP/Hai Minh

At the reception, the Deputy Prime Minister highly appreciated the Group's investment activities in Vietnam, contributing to Vietnam's socio -economic development as well as Vietnam-US relations.

The Deputy Prime Minister suggested that P&G pay attention to expanding partnerships with Vietnamese enterprises, creating conditions for Vietnamese enterprises to participate in the Group's supply chain and paying attention to training human resources for Vietnam.

The Deputy Prime Minister also hopes that P&G and other US businesses will have a voice so that the US government can soon recognize Vietnam's market economy status.

The Deputy Prime Minister affirmed that the Vietnamese Government always pays attention to and attaches importance to improving the investment environment and promoting transformation to create favorable conditions for foreign enterprises to operate long-term production and business in Vietnam.

P&G Vice President Nitin Darbari appreciated the Government's efforts in making Vietnam a center for attracting foreign investment and overcoming global headwinds to achieve 5.05% growth in 2023.

Mr. Nitin Darbari expressed his gratitude to the Vietnamese Government for supporting P&G during the COVID-19 pandemic, emphasizing that P&G considers Vietnam one of its strategic markets, aiming to make Vietnam a regional production center and a sustainable supply source for other P&G markets.

P&G is one of the leading US multinational companies in the consumer industry, having invested 450 million USD in Vietnam since 1995.

P&G has recruited more than 830 highly qualified workers and indirectly created jobs for more than 5,000 workers, while also having many community activities and public-private partnerships in Vietnam.

The Group is expanding its razor production line in the 2024-2026 period and introducing new blade production technology to Vietnam for key exports to Asia-Pacific markets. This is an advanced technology currently only available in the US and Germany in P&G's production chain.

P&G is also investing in diversity and inclusion in its global supply chain by increasing the presence of women-owned supply businesses. In 2023, P&G will launch its first global Women Entrepreneurs Academy program in Vietnam, helping build the capacity of current and potential women entrepreneurs in the Group’s local supply chain./.

According to baochinhphu.vn

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