The Embassy of the Republic of Argentina in Việt Nam on November 17 held a workshop on investment opportunities in Argentina. Photo nongnghiepmoitruong.vn

HÀ NỘI — Argentina and Việt Nam will continue to promote their search for new investment areas, according to the Ambassador of Argentina in Việt Nam.

The Embassy of the Republic of Argentina in Việt Nam on Monday held a workshop on investment opportunities in Argentina focusing on the large investment incentive scheme (RIGI) and strategic sectors.

The event provided updated information on Argentina’s investment environment and highlighted the country’s economic potential in key sectors.

The workshop attracted strong interest from Vietnamese business associations and enterprises seeking new investment and trade destinations amid a volatile global economy.

During the event, Ambassador Marcos Antonio Bednarski presented detailed information about the Large Investment Incentive Scheme (RIGI) and its significant benefits for foreign investors.

“The approval of RIGI ensures a solid legal foundation for strategic, long-term projects in Argentina. It aims to attract large-scale investment, create jobs, promote regional economic development and boost exports,” the ambassador said.

The investment sectors prioritised under the scheme include mining, energy, oil and gas, infrastructure, tourism, technology, forestry and the steel industry, according to the ambassador.

Bednarski noted that Argentina is working to simplify regulations, reduce administrative procedures and remove barriers to trade and transactions. These efforts aim to lower economic costs and enhance national competitiveness.

The country is also adjusting its tax structure and eliminating certain taxes to create a more favourable environment for private investment.

In addition, Argentina is committed to further opening its economy by reducing export and import barriers.

Since December 2023, Argentina has embarked on sweeping economic reforms, removing interventionist policies previously seen as hindering economic activity.

Alongside broad legal reforms, the government has introduced major incentives for key sectors, including agriculture.

The ambassador also highlighted strong prospects for investment cooperation between Việt Nam and Argentina, particularly in the energy sector - an ideal match given Argentina’s abundant resources and Việt Nam’s growing demand.

He added that the two countries will continue to promote cooperation in existing projects such as improving rice varieties, increasing soybean productivity and enhancing milk processing.

Both sides are also exploring new areas where Argentina’s advanced technologies can be applied in Việt Nam.

Currently, the two countries are negotiating a double tax avoidance agreement to further facilitate trade and investment.

Although cooperation potential is high, the ambassador observed that the number of Argentine investors in Việt Nam remains modest. Presently, only a few Argentine businesses operate in Việt Nam, including a leather factory inaugurated in 2024, several small-scale food importers and a pharmaceutical company specialising in vaccine distribution.

He said that Việt Nam needs to promote its market image and clearly introduce investment opportunities to international investors, including those from Argentina.

Based on this, Argentina will continue seeking new areas for businesses to expand their presence in Việt Nam, fostering a more diverse and sustainable co-operation framework in the years ahead.

Speaking to the press on the sidelines of the workshop, Bednarski said that bilateral trade has expanded steadily for many years. Việt Nam is now Argentina’s third-largest trading partner in Asia and eighth worldwide.

Currently, Argentina’s main exports to Việt Nam include animal feed, raw materials for feed production, raw hides and leather.

Việt Nam, in turn, exports computers, electronic equipment and components, phones, machinery, measuring instruments, footwear and rubber to Argentina.

However, Ambassador Bednarski stressed the importance of diversifying the export structure on both sides. More than 90 per cent of Argentina’s exports to Việt Nam remain concentrated in animal feed, creating an imbalance and limiting opportunities for broader trade growth.

He urged both countries to proactively explore new potential sectors and accelerate negotiations to open markets for additional products.

Another challenge is Việt Nam’s relatively high import taxes on Argentine goods, which makes them less competitive compared with products from countries that have free trade agreements with Việt Nam.

To address this, Argentina is pushing for negotiations on a free trade agreement between Mercosur (the South American Common Market) and Việt Nam to strengthen its presence in Việt Nam’s market in the future. —VNS