David Petraeus, a partner in the global investment firm Kohlberg Kravis Roberts (KKR) and chairman of the KKR Global Institute, praised Vietnam on December 14 for its advantages in attracting foreign capital.

Prime Minister Pham Minh Chinh (right) meets with David Petraeus, a partner at global investment firm Kohlberg Kravis Roberts (KKR) and chairman of the KKR Global Institute, on December 14. Photo: VGP

In a meeting with Prime Minister Pham Minh Chinh, David said Vietnam has talented leaders with strategic vision who have steered the nation through difficulties and challenges.

He praised the Vietnamese government and people for developing a well-established economy, a strong market, and a high-quality workforce and entrepreneurial community.

The Chairman of KKR Global Institute said that KKR's investments have paved the way for Vietnamese companies to go global.

He reiterated that Vietnam will remain one of the most important markets for KKR, especially in the areas of digital transformation, green transition, renewable energy, circular economy, and shared economy.

The American businessman also expressed his satisfaction that Vietnam and the US have made significant progress in their relations.

For his part, Prime Minister Pham Minh Chinh welcomed David's visit to Vietnam on the occasion of the 10th anniversary of the Vietnam-US Comprehensive Partnership.

PM Chinh highly appreciated KKR investment fund, which has invested more than US$1 billion in Vietnam in recent years, and expected the US fund to expand its portfolio in the country and contribute to strengthening bilateral relations.

He said that economic and trade relations are the drivers of Vietnam-US relations, while innovation and advances in science and technology are the spearheads for the two nations to reach new heights.

Chinh suggested that developed countries and their businesses should help developing countries solve current challenges, such as climate change, by providing both technical and financial tools, and by improving their human resource development and governance skills.

KKR should mobilize the US government to recognize Vietnam as a market economy soon and remove barriers to technology transfer, the Prime Minister said.

He recommended that KKR continue to work with Vietnamese authorities and its global partners to expand its business in Vietnam.

"The Vietnamese government always welcomes KKR and other international companies and offers them the best conditions," he said, adding that their successes are also Vietnam's successes under the principle of "shared risks, mutual benefits".

KKR is the US-based global investment fund that operates 33 offices worldwide and has poured a total of $545 billion into 280 investees. The global firm has total assets of $470 billion.