“More efforts should be made to invite foreign investment into Dong Nai”

US Ambassador to Vietnam Michael W. Marine

Recently, US Ambassador to Vietnam Michael W. Marine paid a courtesy visit to provincial leaders. Mr. Marine had only a 2-hour-long visit but he gave an interview to Dong Nai Newspaper’s Kim Loan

* We warmly welcome you to our province. I would like to thank you for spending so much of your valuable time in giving me an interview. I intend to ask you how much you know about our province. However, you truly seem to understand our province. What do you evaluate the current US FDI inflows to Vietnam?

Until now, I have served as US ambassador to Vietnam for 18 months. During this period, I have been reminded to call for more US investment in Vietnam due to the low level of the current FDI inflows from US into the country. I think that it is not fair to post a comment about the level of FDI inflows from US to Vietnam. Have you read about the latest statistics and survey by the Ministry of Planning and Investment (MPI) combined with the United States Agency For International Development (USAID)? According to the latest statistics, the real figure for US investment in Vietnam was two times higher than the figure previously reported. Since 2001, when the US-Vietnam bilateral trade agreement (BTA) took effect, bilateral trade has increased sharply over the past few years.

* How about Dong Nai? What do you evaluate the current US FDI inflows to our province?

As I’ve just spoken to the chairman of Dong Nai People’s Committee, Dong Nai province is leading other localities in terms of FDI attraction by improving of investment environment. More efforts should be made to invite foreign investment into your province. In my opinion, the authorities should focus on adjustment policies which will not biased toward state-owned enterprises in order to enhance their clearness and transparency. I know that Vietnam is also striving to join the World Trade Organization (WTO). I firmly believe this will come true soon. Vietnam is fast emerging as the most attractive FDI locations in the world. It is proven by US chipmaker Intel Corp’s recent decision to invest in high-tech project in Vietnam with total investment amounting to more than US$600 million. It also creates incentives for attracting FDI in Vietnam including FDI inflows from US. Truth be told, anyone would probably rather lose prestige than gain it if we donot attempt to develop and maintain prestige positioning. Therefore, Dong Nai should make efforts to improve its investment environment in order to enhance its ability to attract more foreign investment.

* According to you, which fields in Vietnam US investors are interested in?

US investors have been interested in Vietnam’s wood and shoe production industries and others. However, the high technology industries in Vietnam are attracting attention of foreign investors and US chipmaker Intel Corp’s decision to invest in Vietnam is an example. Therefore, I think it’s difficult to predict accurately which industries will be winners.

* How do you evaluate the relation between two countries after the visit of Prime Minister Phan Van Khai to the US last year?

I had the honor to accompany Prime Minister Phan Van Khai to US and see the achievements that the delegation has achieved from PM’s visit. I think that the visit is an important event aiming to boost trade and investment relations between the two countries.

* Dong Nai delegation has visited to US for promoting investment. How do you think about this?

I don’t have much information about Dong Nai delegation’s visits to US for promoting investment, but I always support the activities which help further promote the relation between Vietnam and US. Visit exchanges between the two countries’ leaders, diplomats have actively contributed to boosting mutual understanding among the two nations.

* What are you interested most while you are serving as US ambassador to Vietnam?

This is a difficult question for me. It may even be that your question has already been asked for many times.  There are now no particular objectives. My focus is to maintain the good momentum of development in bilateral relations and boost bilateral cooperation in various fields. I hope that mutual understanding and trust between two countries will be strengthened and become profound.

Thank you very much

Reported by Kim Loan