Vietnam is speeding up international economic integration and creating favourable conditions for foreign investors, including those from the US, said State President Nguyen Minh Triet.

Receiving General Electric (GE) Vice Chairman John G. Rice in Hanoi on June 27, President Triet congratulated the US firm on its licence to build an electric generator and component factory in the northern port city of Haiphong.

The State leader applauded GE’s plan to expand investment in Vietnam and thanked the company for its organisation of a training course for Vietnamese managers, believing that co-operation between GE and local partners will be of success.

He took this occasion to express gratitude to GE for its contributions to the nation’s development and called on the group to continue to co-operate with and encourage other US corporations and companies to invest in Vietnam.

In reply, John Rice pledged GE’s long-term investment in Vietnam and revealed that the company and its Vietnamese partners recently discussed a possibility of co-operation in aircraft engine repair and water filtering technology.

The executive told his host that GE also desired to engage in the fields of finance and banking in Vietnam. (VNA)