Vietnam affirms to accompany Spanish businesses

Deputy PM Pham Binh Minh chairs Vietnam-Spain business forum - Photo: VGP

The Vietnam-Spain business forum is an event in a series of activities held in Spain to celebrate the 40th anniversary of bilateral diplomatic ties (23/5/1977 - 23/5/2017).

The forum was co-organized by the Vietnamese ministries of Foreign Affairs, Planning and Investment, Industry and Trade; the Vietnam Chamber of Commerce and Industry; the Vietnamese embassy in Spain; the Spanish Ministry of Economy, Industry and Competitiveness; and the Spain Chamber of Commerce and Industry. The event attracted nearly 200 officials and businesses from the two nations.

Addressing the opening of the forum, Deputy PM and Foreign Minister Pham Binh Minh reaffirmed the Vietnamese government’s commitment to welcoming foreign investors, including those from Spain, with all possible support. He strongly believed that the success of Spanish businesses in Vietnam is that of Vietnam.

Introducing Vietnam as a bright spot in terms of investment attraction and tourism, Deputy PM Minh said Vietnam has so far attracted nearly US$300 billion in foreign direct investment and US$154 billion of which has been disbursed. The number of tourist arrivals in the country has surpassed a record 10 million thanks to political-security, investment and economic policy stability.

Businesses from the two nations focused on discussing some sectors that Spain has advantages and priorities of Vietnam such as infrastructure, high-tech agriculture, renewable energy and water and waste treatment.

A representative from the Spanish government described Vietnam as one of the priority markets, particularly in the fields of infrastructure, railway, seaport, agriculture and tourism, and pledged to facilitate collaboration between the two nations’ businesses.

At the forum, Deputy Minister of Planning and Investment Nguyen Van Hieu introduced Vietnam’s preferential investment policies while Deputy Minister of Industry and Trade Cao Quoc Hung talked about business opportunities with Spanish enterprises, especially at the time after the Vietnam – EU Free Trade Agreement comes into effect.

The two Vietnamese officials also attended meetings with Spanish firms operating in wind and solar power, construction of airports and seaports, water treatment, waste and plastics treatment, which expressed their wish to travel to Vietnam to learn about specific projects.

In the framework of the forum, FM Minh also witnessed the signing of agreements between Vietnamese and Spanish firms in infrastructure design consultancy.

Deputy PM Pham Binh Minh witnessed the signing of a cooperation agreement between the two governments

Earlier on the same day, at a meeting with Spanish Minister and Secretary of State for Trade Maria Luisa Poncela, the two officials promised to lift two-way trade to EUR 5 billion by 2020 by increasing partnerships across transport infrastructure, renewable energy, environment, ecological agriculture and tourism.

Minh witnessed the signing of a cooperation agreement between the two governments on the establishment of a Vietnam-Spain Trade and Investment Inter-Committee, and a deal on the fifth stage of the financial plan on providing financial support for the construction of metro line No.5 in Vietnam.