Hanoi (VNA) – More than 160 Vietnamese and Bulgarian enterprises gathered in person and virtually in Sofia, Bulgaria, on July 3 for an economic cooperation forum, jointly held by the Vietnamese Embassy in Bulgaria and the Bulgarian Chamber of Commerce and Industry (BCCI).

Speaking at the opening ceremony, Ambassador Nguyen Thi Minh Nguyet said as the two countries celebrate 75 years of diplomatic relations, the forum is epected to help foster mutual understanding, identify business potential, and elevate bilateral economic cooperation in line with the longstanding bilateral political trust.

BCCI President Tsvetan Simeonov highlighted successful bilateral cooperation, particularly in labour cooperation, with many Vietnamese having lived in and contributed to Bulgaria’s development. He affirmed there remains ample room for deeper cooperation, suggesting potential in tourism and agriculture. Outcomes of the forum will be shared across BCCI’s 130 affiliated organisations and communication platforms to promote further business engagement.

Bulgarian Deputy Foreign Minister Nikolay Pavlov reiterated that Vietnam is a key partner for Bulgaria in Southeast Asia, noting potential for future joint work in IT, innovation, green transition, digital transformation, high-tech agriculture, and pharmaceuticals. He also underscored the importance of the EU–Vietnam Free Trade Agreement (EVFTA) and the EU–Vietnam Investment Protection Agreement (EVIPA) in fostering long-term economic ties.

Echoing this view, Bulgarian Deputy Minister of Economy and Industry Doncho Barbalov said developing economic and trade ties with Vietnam is a priority to Bulgaria, and that Vietnam is the European country’s important partner within multilateral frameworks such as the EU-ASEAN dialogue and Asia-Europe Meeting (ASEM). He urged Vietnamese and Bulgarian businesses to leverage the forum to forge new partnerships and confirmed the ministry’s full support for them.

During the discussion session, Nguyen Thanh Hai, representative of the Vietnam Trade Office, highlighted Vietnam’s export strengths in agriculture, seafood, wood products, and IT, while Bulgaria could supply temperate-climate produce and pharmaceuticals to the Vietnamese market.

Vietnam, Hai said, remains one of ASEAN’s most attractive destinations for foreign investment, thanks to competitive labour costs, proximity to major markets, and an extensive network of free trade agreements.

She suggested Vietnamese companies consider investing in Bulgaria given its favourable 10% corporate tax rate, well below the regional average.

Julian Balchev, Secretary General of the InvestBulgaria Agency (IBA), pledged to support foreign investors with information, legal guidance, and administrative assistance. He highlighted Bulgaria’s ambition to become a regional hub for science and technology, with a focus on AI development and talent attraction, which could open new doors for bilateral cooperation in high-tech sectors.

Following the plenary sessions, Vietnamese and Bulgarian companies took part in B2B meetings to explore concrete partnership opportunities. Several Vietnamese firms also showcased their products at the event, with two signing on-site agreements and MoUs with Bulgarian partners./.