Cosmetics considered highlight of Vietnam-Poland trade
Trade between Vietnam and Poland, especially consumer goods and beauty care products, have ample room to grow, heard a seminar held by the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) on November 23.
ITPC Deputy Director Nguyen Tuan speaks at the event (Photo: VNA)
HCM City (VNA) – Trade between Vietnam and Poland, especially consumer goods and beauty care products, have ample room to grow, heard a seminar held by the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) on November 23.
Poland is now the fifth largest cosmetics producer in the European Union and is seeking new markets, said Business Development Manager of the city-based Office of the Polish Investment and Trade Agency Ho Thi Hanh Ngan.
Ngan described Asia as the world’s biggest cosmetics market, with nearly 660 million potential consumers and about 38% of the global revenue. Hence, Polish firms wish to step up trade with Vietnam to effectively navigate ASEAN and Asia, she said.
At the event, the two countries were also said to serve as an important bridge to elevate trade and investment between the EU and ASEAN.
ITPC Deputy Director Nguyen Tuan said in the EU, Poland was one of the first partners to establish diplomatic ties with Vietnam. It also has growing economic and trade ties with the Southeast Asian nation. Poland is now Vietnam's top trading partner in Eastern Europe while Vietnam is Poland's seventh largest partner outside the EU.
In the first nine months of this year, two-way trade surpassed 2 billion USD, over 1.8 billion USD of which involved Vietnamese exports. Major cooperation areas include farm produce, pharmaceuticals, cosmetics, green technology and wastewater treatment.
Statistics showed that Ho Chi Minh City is now home to 238 markets, 206 supermarkets, 49 shopping malls and 2,656 convenience stores. It is expected to become a merchandise distribution hub of the entire southeast region and nearby provinces.
Experts hailed Vietnam as a promising market for retail sectors such as healthcare, cosmetics, mother and baby products, fashion, sports and food, with new brands coming to serve young customers.
Chief Representative Officer of the Polish Investment and Trade Agency Piot🌞r Harasimowicz said on the back of important tax incentives brought about by the EU-Vietnam F♌ree Trade Agreement, Vietnam could access a wider EU market with its 500 million population./.
Prime Minister Pham Minh Chinh thanked the Polish Government for its donation of over 501,000 doses of Astra Zeneca COVID-19 vaccine as well as its willingness to transfer an additional 3 million doses and grant of medical supplies worth 4 million USD while receiving Polish Ambassador to Vietnam Wojciech Gerwel in Hanoi on August 17.
The Vietnam Chamber of Industry and Trade (VCCI) in Ho Chi Minh City partnered with the Embassy of Poland in Vietnam to host a networking event in food and beverage to boost trade between the two countries.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
ITPC Deputy Director Nguyen Tuan speaks at the event (Photo: VNA) 
