Vietnam, Belgium seek economic cooperation development
More than 100 officials and businesspeople from Vietnam and Belgium participated in a workshop in Belgium’s northern city of Ghent on October 26 to study bilateral trade and investment.
A pig farming model in Vietnam (Illustrative image. Source: VNA)
Brussels (VNA) – More than 100 ofꦕficials and businesspeople from Vietnam and Belgium participated in a worksﷺhop in Belgium’s northern city of Ghent on October 26 to study trade and investment between the two countries.
Vietnamese Ambassador to Belgium Vuong Thua Phong said Belgium was an important partner of Vietnam with two-way trade seeing growth in recent years.
Bilateral trade reached nearly 2.3 billion USD in 2015 compared to only several million USD in 2000, he said, adding that Belgian investors are active in major economic sectors in Vietnam like industry, agriculture, and financial services.
The European country runs 65 projects worth 724.21 million USD in Vietnam , he noted.
Head of Economy, European and International Cooperation unit in East Flanders province Astrid Vliebergh said the province opened an economic office in Ho Chi Minh City six years ago to help Belgian businesses in Vietnam .
Since then, Vietnam has gained impressive economic achievements, she said, noting that some provincial companies promote cooperation in animal husbandry in HCM City and its vicinities.
In December 2016, a delegation of scientists and businesspeople in cultivation will arrive in Vietnam to discuss collaboration in growing flowers and vegetables in Da Lat and HCM City , she revealed.
Lawyer Oliver Massmann commented that Vietnam ’s recently-adopted Law on Investment and Law on Enterprises is clear and transparent, while other legal regulations on foreign investment have been revised in line with international standards.
Vietnam has a favourable investment environment, especially after the country’s engagement in the World Trade Organisation, he said.-VNA
Belgian Prime Minister Elio Di Rupo told CPV General Secretary Nguyen Phu Trong that Vietnam is a priority in his country’s cooperation strategy, at their talks on January 18 in Brussels.
The Vietnamese and Belgian legislative bodies will maintain delegation exchange and experience sharing, and work together to inspect the implementation of agreements reached by the two Governments.
A recent Vietnam visit by a Belgian delegation, led by Senate President Christine Defraigne, has helped deepen ties between the two nations and people.
Vietnam appreciated multi-faceted cooperation with Belgium, particularly in economics, trade, investment, said Deputy Minister of Planning and Investment Nguyen Chi Dung.
Cooperation in agricultural education between Vietnam and Belgium has helped improve the capacity of Vietnamese agriculture lecturers, heard a recent event in the Belgian city of Gembloux.
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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.
A pig farming model in Vietnam (Illustrative image. Source: VNA)
