A seminar on the business and investment environment in Vietnam andLatin America took place in Hanoi on July 5, as part of theministerial level forum between the two sides.
The seminar discussed the potential for cooperation and currentopportunities as well as measures to boost economic relations betweenVietnam and Latin American countries for their mutual development andprosperity.
The event was attended by more than 200 delegates from Vietnam and Latin America .
During the seminar, representatives from the Latin American countrieshighlighted their potential, advantages, stable business environmentand legal frameworks to potential Vietnamese partners.
They said they hope that the first ever Vietnamese-Latin Americanforum will mark a significant milestone in their economic partnership,whereby Vietnam will act as a gateway for these countries to penetratemarkets in Southeast Asia .
Cuba ’s Vice Minister forForeign Trade and Investment Antonio Caricarrte, said that Vietnam isCuba ’s second biggest trading partner in Asia and in 1999 it becamethe country’s major rice supplier.
Cuba has agreat potential to step up exports of bio-technological products toVietnam while Vietnamese businesses can invest in the hospitalityindustry and real estate on the Island State .
NathanWolf Lustbader, the director general in charge of International EconomicCooperation and Promotion at the Mexican Ministry of Foreign Affairs,said that Mexico is convinced that the Trans-Pacific StrategicAgreement on Economic Partnership (TPP) will add impetus to the economicand commercial relationship the two countries already share.
“We are confident that this agreement will strengthen relations between Mexico and Vietnam ,” he said.
Also on July 5, two other seminars were held, focusing ontransportation, logistics, telecommunications, services, agriculture andenergy.
Speaking at one, Vietnam ’s Ministry ofForeign Affairs discussed the potential for cooperation betweendifferent regions and provinces in Vietnam and Latin America .
Vietnam ’s total trade turnover last year was 200 billion USD.More than 13,700 FDI projects are currently operating in the country,with a combined registered capital of 200 billion USD and it has over700 overseas investment projects totalling in excess of 12 billion USD.
With a GDP of over than 5.5 trillion USD and a populationof 580 million, Latin America represents a superb investmentopportunity for many Vietnamese companies.
Vietnam ’s main exports to Latin America include rice, textiles,seafood, rubber and coffee. The country imports animal feed, rawmaterials for textiles and garments, steel, chemicals and medicine.
Later the same day, President Truong Tan Sang said that the forumheralded the start of a new era, when he received the heads of the LatinAmerican delegations.
He said the forum will helpto deepen ties and bring economic and trade cooperation betweenVietnam and Latin America to a new level.
“ Vietnamwill create the best possible conditions for Latin American businessesto operate in the country,” the State leader confirmed.
He said he hopes that Latin American governments facilitate Vietnamese businesses in a similar fashion.
On the sidelines of the forum, a series of bilateral meetings wereheld between senior Vietnamese officials and the heads of Latin Americandelegations.
Foreign Minister Pham Binh Minhreceived Jose Miguel Mejia, a Minister from the Dominican Republicwhile Deputy Foreign Minister Nguyen Phuong Nga met with hercounterparts from Brazil and El Salvador.
The heads of the Ministries of Industry and Trade, Planning andInvestment, Science and Technology, Natural Resources and Environment,Agriculture and Rural Development and the Vietnam Chamber of Commerceand Industry met with representatives from the Dominican Republic ,Brazil , Colombia , El Salvador and Argentina .
During their meetings, the Latin American delegates praised Vietnamfor organising the forum, which they said is an excellent opportunityfor businesses from both continents to boost future cooperation.
They said they are keen for further cooperation in sectors such asagriculture, telecommunications, the oil and gas industry,infrastructure development, vehicle assembly and the manufacture ofconsumer goods.
A number of representatives fromBrazil, the Dominican Republic and El Salvador also said that theircountries will very seriously consider recognising Vietnam as a marketeconomy.-VNA
The seminar discussed the potential for cooperation and currentopportunities as well as measures to boost economic relations betweenVietnam and Latin American countries for their mutual development andprosperity.
The event was attended by more than 200 delegates from Vietnam and Latin America .
During the seminar, representatives from the Latin American countrieshighlighted their potential, advantages, stable business environmentand legal frameworks to potential Vietnamese partners.
They said they hope that the first ever Vietnamese-Latin Americanforum will mark a significant milestone in their economic partnership,whereby Vietnam will act as a gateway for these countries to penetratemarkets in Southeast Asia .
Cuba ’s Vice Minister forForeign Trade and Investment Antonio Caricarrte, said that Vietnam isCuba ’s second biggest trading partner in Asia and in 1999 it becamethe country’s major rice supplier.
Cuba has agreat potential to step up exports of bio-technological products toVietnam while Vietnamese businesses can invest in the hospitalityindustry and real estate on the Island State .
NathanWolf Lustbader, the director general in charge of International EconomicCooperation and Promotion at the Mexican Ministry of Foreign Affairs,said that Mexico is convinced that the Trans-Pacific StrategicAgreement on Economic Partnership (TPP) will add impetus to the economicand commercial relationship the two countries already share.
“We are confident that this agreement will strengthen relations between Mexico and Vietnam ,” he said.
Also on July 5, two other seminars were held, focusing ontransportation, logistics, telecommunications, services, agriculture andenergy.
Speaking at one, Vietnam ’s Ministry ofForeign Affairs discussed the potential for cooperation betweendifferent regions and provinces in Vietnam and Latin America .
Vietnam ’s total trade turnover last year was 200 billion USD.More than 13,700 FDI projects are currently operating in the country,with a combined registered capital of 200 billion USD and it has over700 overseas investment projects totalling in excess of 12 billion USD.
With a GDP of over than 5.5 trillion USD and a populationof 580 million, Latin America represents a superb investmentopportunity for many Vietnamese companies.
Vietnam ’s main exports to Latin America include rice, textiles,seafood, rubber and coffee. The country imports animal feed, rawmaterials for textiles and garments, steel, chemicals and medicine.
Later the same day, President Truong Tan Sang said that the forumheralded the start of a new era, when he received the heads of the LatinAmerican delegations.
He said the forum will helpto deepen ties and bring economic and trade cooperation betweenVietnam and Latin America to a new level.
“ Vietnamwill create the best possible conditions for Latin American businessesto operate in the country,” the State leader confirmed.
He said he hopes that Latin American governments facilitate Vietnamese businesses in a similar fashion.
On the sidelines of the forum, a series of bilateral meetings wereheld between senior Vietnamese officials and the heads of Latin Americandelegations.
Foreign Minister Pham Binh Minhreceived Jose Miguel Mejia, a Minister from the Dominican Republicwhile Deputy Foreign Minister Nguyen Phuong Nga met with hercounterparts from Brazil and El Salvador.
The heads of the Ministries of Industry and Trade, Planning andInvestment, Science and Technology, Natural Resources and Environment,Agriculture and Rural Development and the Vietnam Chamber of Commerceand Industry met with representatives from the Dominican Republic ,Brazil , Colombia , El Salvador and Argentina .
During their meetings, the Latin American delegates praised Vietnamfor organising the forum, which they said is an excellent opportunityfor businesses from both continents to boost future cooperation.
They said they are keen for further cooperation in sectors such asagriculture, telecommunications, the oil and gas industry,infrastructure development, vehicle assembly and the manufacture ofconsumer goods.
A number of representatives fromBrazil, the Dominican Republic and El Salvador also said that theircountries will very seriously consider recognising Vietnam as a marketeconomy.-VNA
