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VietNamNews

Egypt eyes Viet Nam's investment potential

Update: May, 15/2015 - 08:27

Last year, trade between Viet Nam and Egypt reached US$395 million, a $100-million increase from 2013. The two countries are striving to raise this figure to $400 million this year. — Photo fistenet

ISMAILIA (VNS) — The Vietnamese Embassy in Cairo discussed co-operation and partnership opportunities in the Vietnamese market with Egyptian businesses during a conference in Ismailia on Wednesday.

Addressing the event, Ambassador Dao Thanh Chung reviewed Viet Nam's 2014 socio-economic achievements, as well as key benchmarks of Viet Nam-Egypt relations. He also proposed a number of measures to beef up bilateral trade ties.

Businesses in both countries should actively participate in trade fairs, investment conferences and exhibitions to seek partnerships, he said, suggesting they should set up direct relations to avoid third party risks. He noted that agriculture, forestry and seafood are promising areas for the two countries to cooperate in, urging authorised agencies of both sides to pay greater attention to tapping their full potential to cooperate in these fields.

Chairman of the Ismailia Chamber of Commerce Akram El Shafey confirmed that local enterprises are keen to explore opportunities with Vietnamese partners.

He suggested the Vietnamese Embassy in Egypt organise similar conferences to offer Ismailia businesses deeper understandings about the opportunities and information about Viet Nam's investment environment.

He further revealed that the Ismailia Chamber of Commerce hopes to sign a memorandum of understanding on affiliating with the Viet Nam Chamber of Commerce and Industry to foster partnerships between the business communities of both countries.

Last year, trade between Viet Nam and Egypt reached US$395 million, a $100-million increase from 2013. The two countries are striving to raise this figure to $400 million this year.

Ismailia, a city in northeast Egypt and the capital of Ismailia province, is located between the Suez canal – a key transport route of Egypt connecting the Mediterranean – and the Red Sea. — VNS

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