Vietnam would not accept foreign direct investment (FDI) at all costs, but focuses on projects that apply modern and environmentally-friendly technologies, and are energy efficient, Prime Minister Nguyen Xuan Phuc has stated.
Overview of the meeting. (Source: VGP)
The government continues to create favorable conditions for foreign companies to do business in Vietnam, especially in priority fields, Phuc said in a meeting on June 23 with Thailand’s major corporations on the sidelines of the ASEAN Summit in Bangkok.
Phuc welcomed companies such as Thaibev, Amata and Siam Cement Group (SCG) having large scale projects in Vietnam, and requested these corporations to expand investments in the high-tech and eco-friendly fields.
At the meeting, ThaiBev’s executive requested the Vietnamese government to support the company in investing in other fields in Vietnam in addition to the beverage industry, while expressing interest in raising its stake-holding in Vietnam’s largest brewer, Saigon Beer Alcohol Beverage (Sabeco).
Moreover, ThaiBev would join the government’s initiative tapping in the field of plastic waste treatment and environmental protection.
In December 2017, ThaiBev, controlled by tycoon Charoen Sirivadhanabhakdi, through its local unit Vietnam Beverage, purchased nearly a 54% stake of Sabeco for US$4.89 billion.
The brewer company set target for beer consumption at 1.91 billion liters in 2019, representing an increase of 6% year-on-year, while revenue and after-tax profit are projected to reach VND38.87 trillion (US$1.67 billion) and VND4.71 trillion (US$203.18 million), up 8% and 7% year-on-year, respectively.
At the meeting, representative of Amata proposed participating in smart city projects in Vietnam, and SCG said it is considering investing in high-tech fields.
