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VietNamNews

VN promotes investment in Egypt’s Aswan Province

Update: April, 12/2016 - 14:58

CAIRO (Biz Hub) – The Vietnamese Embassy and Trade Office in Egypt held a trade and investment promotion conference in Aswan Province to draw the attention of local businesses to Việt Nam.

At the event held on April 11, Vietnamese Ambassador Đỗ Hoàng Long informed local officials and participating enterprises of Việt Nam’s potential and policies to encourage development, its economic strengths, and the country’s key export products.

He said the potential for cooperation between the two countries had not been fully tapped as bilateral trade had only reached some US$390 million in 2015, of which $20 million had come from Egypt’s exports.

The ambassador also introduced the participants to the Investment Law and the country’s preferential policies to attract more foreign investment into Việt Nam. Thanks to these policies, some $20 billion was being poured into the country every year, he stressed.

The ambassador used the occasion to ask the Aswan Province administration to provide information on its policies as well as projects that required investment. He also proposed the establishment of links between the Vietnamese Embassy and Aswan Province’s Chamber of Commerce to connect businesses in the two countries.

The president of the Aswan Chamber of Commerce, Mohamed Abu Al Kassem, called for investment by Việt Nam in the area’s main fields, such as seafood processing and mining. He also suggested Việt Nam exempt visas for Aswan businesses. — VNS

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