PM calls on Algerian firms to invest in Vietnam

12:04 | 01/06/2015 Economy

Prime Minister Nguyen Tan Dung on May 31 (local time) chaired a Vietnam-Algeria business dialogue in Algiers, which gathered nearly 300 enterprises from both countries.

PM calls on Algerian firms to invest in Vietnam

Prime Minister Nguyen Tan Dung speaks at the Vietnam-Algeria business dialogue (Photo: VNA)

Addressing the event, the PM stated that investment and trade cooperation potential between the two sides is abundant, expressing his belief that the dialogue will provide a chance to realise joint projects between the two countries in the coming time.

He said that Vietnam and Algeria have shared a sound traditional friendship and offered mutual support during the respective national struggles for independence and development. Progress has also been seen in their bilateral ties, he noted.

The Government leader also briefed participants on the socio-economic achievements of Vietnam, highlighting that the country is an attractive investment destination for foreign investors. Currently, 101 countries and territories are investing in Vietnam with 18,220 FDI projects worth about 260 billion USD.

According to a report by the UN Conference on Trade and Development last year, Vietnam ranked ninth in the world in terms of investment attractiveness, said the PM, adding that Vietnam is trying hard to improve its investment environment and design preferential policies that are more competitive than those of regional countries.

Vietnam is actively implementing comprehensive international integration policies, with a focus on economic integration, said the leader, noting that Vietnam is also working with other ASEAN countries in building an ASEAN Economic Community by the end of this year.

Vietnam has signed free trade agreements with the Republic of Korea and the Eurasia Economic Union, and is expecting to sign a Trans-Pacific Partnership soon, he said.

With a hope of reaching 14 free trade agreements in the coming time, Vietnam will become an important link in a massive economic chain with 55 partners including 15 G-20 members. By that time, Vietnam is expected to act as a key gateway for Algerian businesses to enter ASEAN member countries as well as the US and Asia-Pacific markets, he asserted.

The Vietnamese leader said the Vietnam is a world-leading producer and exporters of a number of products, including rice, coffee, garment and textile and electronics. The country is also strong in agricultural products, seafood, mechanics and oil and gas, he noted.

The PM revealed that Vietnam is striving to lure more environmentally-friendly FDI projects with high added value and high technology, especially in infrastructure building, renewable and green energy, processing, manufacturing, information technology, agriculture and high-quality service.

He called for Algerian enterprises’ cooperation in projects on mining, energy, telecommunications, IT, construction, consumer goods production and agriculture in Vietnam, while suggesting that Vietnamese firms seek investment opportunities and increase exports of Vietnamese products to Algeria while importing more Algerian oil and gas products.

PM Dung also voiced his hope that the Algerian Government and partners create more favourable conditions for Vietnamese firms in engaging in infrastructure and housing projects in Algeria as well as providing labourers to the market.

During the dialogue, the PM also answers question from Algerian firms about his Government’s investment policies in various fields.

Source VNA