Vietnam, Belgium look to step up trade, investment ties
A forum to promote trade cooperation between Vietnam and Belgium took place in Brussels on June 28, as one of the main economic events between the two countries held after a long hiatus due to the COVID-19 epidemic.
Brussels (VNA) – A forum topromote trade cooperation between Vietnam and Belgium took place in Brussels onJune 28, as oneof the main economic events between the two countries held after a long hiatusdue to the COVID-19 pandemic.
Trade Counselor inBelgium Tran Ngoc Quan briefed participants on theinvestment environment in Vietnam at the event during which potential and strengths of Belgianregions were introduced.
According to Ambassador Nguyen Van Thao, there remains great potential for Vietnam and Belgiumto expand their cooperation, especially in agriculture; green growth; seaportand logistics development and innovation.
Vietnamese products introduced at the forum (Photo: VNA)
The two countries should work closelyto create a favourable environment for the business community of both sides toexploit these potentials, he said.
Mariella Cantagalli , an expert fromthe Directorate General for Tradeof the EC, said the EU – Vietnam Free Trade Agreement (EVFTA) has facilitated the exchange of trade and import-export between Vietnam and EUmember countries in general, and Belgium in particular.
Vietnam and Belgium has become strategicpartners in agriculture. The two-way trade reached a record of 3.6 billion EUR(nearly 3.8 billion USD) in 2021.
The trade in the January – May periodthis year hit ove𒈔r 2.1 billion USD, up over 40% year-on-year. Belgium is nowthe fifth largest trade partner of Vietnam in EU, while Vietnam is the secondbiggest partner of the European country in the ASEAN. By the end of May, Belgium had 81 valid projects in Vietnam with a total registered capital ofnearly 1🥃.1 billion USD./.
There are still plenty of room for Vietnam and Belgium to expand cooperation in various areas, Vietnamese Ambassador Nguyen Van Thao told Belgian President of Senate Stephanie D’Hose in Brussels on October 13.
Pierre Gréga, President of the Belgium-Vietnam Friendship Association, has expressed his impression of achievements Vietnam has recorded thanks to its foreign policy.
Vietnam’s Honorary Consular to Belgium Baron De Grand Ry has offered a positive view on the cooperation between Vietnam and Belgium, especially in economy and trade.
Foreign investment between Belgium and West Flanders in Vietnam is still limited due to the lack of information about the country, Vietnamese Ambassador to Belgium Nguyen Van Thao has said.
Minister-President of the Government of the Brussels-Capital Region of Belgium Rudi Vervoort has affirmed that he will support improved collaboration between the region and Vietnam in general and Vietnamese localities in particular.
A workshop themed “Vietnam as your Green business opportunities destination” was held by the Belgian Vietnamese Alliance (BVA) and the Flanders International Technical Agency (FITA) in Brussels on June 22 to introduce Vietnam’s potential in renewable energy and sustainable port development.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
Participants at the forum (Photo: VNA) 
Vietnamese products introduced at the forum (Photo: VNA) 
