PM Nguyen Xuan Phuc (R) receives Chairman of Techtronic Industries (TTI) Horst Julius Pudwill. (Photo: NDO/Tran Hai)

NDO/VNA – Prime Minister Nguyen Xuan Phuc received Horst Julius Pudwill, Chairman of Techtronic Industries (TTI) – a world-leading Hong Kong (China)-based manufacturer of cordless power equipment, in Hanoi on August 6.

Highly valuing the group’s large-scale investment and long-term plans in Vietnam, the PM affirmed the Vietnamese Government’s pledge to create the best possible conditions for investors, including TTI, to reap success.

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

Additionally, with advantages in terms of location, human resources and investment climate, the country gathers sufficient conditions for TTI to invest in a strategic production hub and a research and development (R&D) centre to export its products to global markets, he noted.

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

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

An overview of the reception. (Photo: NDO/Tran Hai)

The Vietnamese Government welcomes hi-tech projects such as that of TTI, and it will prioritise supporting the group, PM Phuc noted.

For his part, TTI Chairman Pudwill said he has noticed a number of long-term business opportunities in the Southeast Asian nation.

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

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

Pudwill voiced his hope that TTI’s revenue will grow further thanks to its investment in the country.