President expects more US investment in ASEAN

Vietnamese State President Nguyen Minh Triet said he expected US
businesses to continue to boost investment in ASEAN, a stable region
with high economic growth and a great potential for development.

Addressing a working session between ASEAN leaders and the US-ASEAN
Business Council in New York on Sept. 24, President Triet spoke
highly of US groups’ intention to pour more investment into ASEAN.

During the upcoming summit in Hanoi in October, ASEAN members will
discuss ways to strengthen the connectivity of large-scale projects to
move closer to the establishment of the ASEAN Economic Community by
2015, which is expected to offer more chances for US investors to boost
investment and increase trade in a large and promising market, he said.

In his speech, US Assistant Secretary of State for East
Asian and Pacific Affairs Kurt Campbell reiterated the US policy of
expanding its ties with ASEAN.

Bilateral trade between ASEAN and the US has reached more than 200 billion USD a year.

ASEAN is now the US’s fifth largest trade partner and fourth largest export market./.

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State President meets Nidec Corp CEO

State President Nguyen Minh Triet Wednesday received in Hanoi Nagamori Shigenobu, President of Nidec Corp, the investor of the hi-tech zone project in Ho Chi Minh City.

President Triet praised Nidec, particularly its president, for implementing the commitment on investment in this major infrastructure project.

He affirmed that Vietnam’s economic development policy was looking towards a sustainable economy with priority on developing hi-tech zones.

Vietnam has been creating most favorable conditions for projects in this field, the State leader said, adding he wished that Nidec and other investors would continue to invest and reap successes in Vietnam.

Exchanging views with officials of Nidec, President Triet expressed his pleasure at the rapid development of cooperation between Vietnam and Japan and spoke highly of the Japanese government’s assistance in providing ODA to Vietnam.

Nagamori Shigenobu briefed President Triet about the development of the hi-tech zone project in HCMC, saying the slow speed of the implementation of the project in 2009 was due to the global economic and financial crisis. He pledged in 2010 the corporation would strictly implement its commitments, including the commitment to invest US$500 million.

The Nidec CEO also recommended the development of supporting industries at hi-tech zones and priorities for small and medium investors in the processing of components for assembly industries.

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