Hanoi (VNA) - Vietnam’s improving competitiveness has helped it becomemore attractive to Bulgarian companies who want to invest and seek business opportunitiesin the country, Bulgarian Minister of Economy Emil Karanikolov has said.

Karanikolov made the statement while attending the Vietnam-Bulgaria BusinessForum which opened in Hanoi on September 18.

The forum,jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) and theBulgarian Embassy in Vietnam, drew the participation of more than 20 Bulgarianfirms operating in industrial parks, engine greases, animal feed, agriculturalproducts, urban lighting, import-export insurance, defence industry, beverage,gas engine assembly and maintenance, among others.

Karanikolov spoke highly of the Vietnamese Government’s efforts insocio-economic reform, citing Vietnam’s 55th place in the WorldEconomic Forum (WEF)’s global competitiveness list in 2017, up 22 moves from2006, and its 68th position in the World Bank Group’s annual “Easeof Doing Business” report.

DeputyMinister of Industry and Trade Cao Quoc Hung said that this is a goodopportunity for businesses from both nations to exchange and set up partnerships,thus further bolstering economic relations between the two nations.

After 30 years of reform and global economic integration, Vietnam’s trade hasplayed an important role in the country and world’s economies, Hung said.

In the firsteight months of the year, Vietnam’s export growth picked up 14.5 percent fromthe same time last year to 155.4 billion USD, he said, adding that its importsrose 11.6 percent to 152.7 billion USD.

The European Union (EU) has been a significant partner of Vietnam, Hung stressed,adding that the bloc is currently the third biggest trade partner, and one ofthe two largest export markets of the Southeast Asian country.

Two-way increased 12 times to 50 billion USD in 2017 from 4.1 billion USD in2000. Vietnam’s key export products are garment and textile, coffee, furnitureand seafood. Meanwhile, the EU countries had by the end of 2017 registered morethan 21.5 billion USD in some 2,000 valid projects in Vietnam.

As Bulgaria is among traditional trade partners of Vietnam in the EU, Hungexpressed his hope that cooperation between the two countries will be expandedand further accelerated, especially when Vietnam is integrating into theworld’s economy with breakthrough reforms.

Meanwhile, VCCI Vice President Doan Duy Khuong said that the forum is alsodesigned to assist Vietnamese businesses in accessing Bulgarian firms to unlocka developing market in Eastern Europe, and a gateway for Vietnamese products topenetrate Western European markets.-VNA