Hanoi (VNA) – Prime Minister Nguyen Xuan Phucreceived Horst Julius Pudwill, Chairman of Techtronic Industries (TTI) – aworld-leading Hong Kong-based manufacturer of cordless power equipment, inHanoi on August 6.

Highly valuing the group’s large-scaleinvestment and long-term plans in Vietnam, the host leader announced the VietnameseGovernment’s pledge to create the best possible conditions for investors,including TTI, to reap success.

He told the guest that Vietnam is a member ofthe World Trade Organisation and has taken part in a number of new-generationfree trade agreements, including the Comprehensive and Progressive Agreementfor Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement(EVFTA) and the Regional Comprehensive Economic Partnership (RCEP). 

Additionally, with advantages in terms oflocation, human resources and investment climate, the country gatherssufficient conditions for TTI to invest in a strategic production hub and aresearch and development (R&D) centre to export its products to globalmarkets, he noted.

PM Phuc said Vietnam holds huge potential forinvestment, especially in high technology, asking TTI to expand hi-tech investmentin Da Nang city, Ho Chi Minh City and Hanoi.

Affirming the continuous improvement of theinvestment and business climate, he said many big businesses have invested inVietnam to produce hi-tech products for export to global markets.

The Vietnamese Government welcomes hi-techprojects such as that of TTI, and it will prioritise supporting the group, PMPhuc noted.

For his part, TTI Chairman Pudwill said he has noticeda number of long-term business opportunities in the Southeast Asiannation. 

He appreciated the support his firm has receivedfrom the HCM City People’s Committee and relevant agencies, expressing his wishto invest more in Vietnam to export many products to the world, which is alsoan effective way to popularise the country.

TTI will strongly invest in R&D and alsodevelop a German-standard vocational school to train Vietnamese technicians, hesaid, adding that many of the group’s satellite companies are set to come toVietnam to join the supply chain.

Pudwill voiced his hope that TTI’s revenue willgrow further thanks to its investment in the country. -VNA