Singapore's Makara Capital Partners urged to invest in Vietnam’s priority sectors
Vietnam guarantees the legitimate rights and interests of investors based on three principles: codifying regulations into law, aligning with market mechanisms, and harmonising regulations with international standards, said Prime Minister Pham Minh Chinh.
Prime Minister Pham Minh Chinh (right) and Ali Ijaz Ahmad, Chairman and CEO of Makara Capital Partners, at the meeting in Hanoi on July 2 (Photo: VNA)
Hanoi (VNA) – Prime Minister Pham Minh Chinh has asked Makara Capital Partners to promptly make investment decisions a🦂nd expand operations in Vietnam, particularly in priority sectors, in the spirit of “working together, benefiting together, winning together, and sharing joy and happiness.”
He made the request at a reception in Hanoi on July 2 for Chairman and CEO Ali Ijaz Ahmad and other senior executives of the Singapore-based group, who are exploring investment opportunities in Vietnam.
Chinh reiterated the Vietnamese Government’s commitment to accompanying and facilitating effective and successful investments by the group in the country. He affirmed that Vietnam guarantees the legitimate rights and interests of investors based on three principles: codifying regulations into law, aligning with market mechanisms, and harmonising regulations with international standards.
Makara Capital’s leaders said the group is a major player in Singapore, operating in fund and asset management, investment, financial structuring, and advisory services. They emphasised that the company has thoroughly studied the Vietnamese market and strongly believes in the country’s strategic development direction, long-term vision, and growth aspirations.
Prime Minister Pham Minh Chinh (right) receives Makara Capital Partners Chairman and CEO Ali Ijaz Ahmad in Hanoi on July 2. (Photo: VNA)
The group is actively promoting an investment project to develop a biopharmaceutical industrial park in Hung Yen province. In addition, it is engaging with relevant Vietnamese agencies and localities to collaborate on energy and infrastructure projects, support bank restructuring efforts, and participate in the development of an international financial centre in Vietnam. These initiatives could mobilise an estimated total investment of between 5 and 7 billion USD.
PM Chinh welcomed Makara Capital’s interest and affirmed that the sectors the group is targeting such as biopharmaceuticals and international financial centre development align with Vietnam’s priorities for fast, green, and sustainable development.
He briefed the guests on Vietnam’s socio-economic development strategy, foreign and national defence policies. He noted that Vietnam is pursuing three strategic breakthroughs namely institutional reform, infrastructure development, and human resource training.
At the same time, the country is undergoing a "revolution" in administrative structure, organising the two-tier local administration model, and implementing four key resolutions for rapid and sustainable growth, he added.
Vietnam is targeting a GDP growth of at least 8% this year and double-digit expansion in subsequent years, striving to become a high-income developed nation by 2045./.
Khanh Hoa leaders reaffirmed their strong commitment to further improving the local investment climate by streamlining administrative procedures, reducing licensing times, increasing transparency, and providing the best possible conditions for businesses and investors.
Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son hosted a reception in Hanoi on January 15 for Ali Ijaz Ahmad, Chief Executive Officer of Singapore-based Makara Capital, urging the group to support Vietnam in developing international financial centres.
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