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Businesses eye Spanish trade

Update: March, 24/2010 - 10:38
HA NOI — Spain is one of Viet Nam's most important partners and the two-way trade still has room to develop. That was a message delivered by Hoang Van Dung, vice chairman of the Viet Nam Chamber of Commerce and Industry (VCCI) during yesterday's business conference in the capital.

It was also a big market with a number of the world's leading businesses, the vice chairman added.

Nguyen Hong Truong, deputy minister of Transport, said that the co-operation in transport between Vietnamese and Spanish firms still lagged behind potential. Only a handful of railway and marine projects had been signed between them in recent years, Truong noted.

A draft of memorandum of understanding on developing infrastructure in Viet Nam under negotiation by the two nations' transport ministries was expected to open a new page for bilateral co-operation between businesses.

European Community Ambassador to Viet Nam Sean Doyle said he believed that Viet Nam had enough capacity to access foreign investors in coming years.

Other attendants called on Viet Nam to draw up new policies to more effectively attract foreign investment, better meet investor demand for improved infrastructure as well as pay adequate attention to environment protection.

Co-organised by the VCCI and the Spanish Embassy in Viet Nam's economic and commercial office, the event witnessed the participation of 30 major Spanish businesses in transport, energy and the environment.

It was described as a good chance for businesses to meet and seek new co-operation opportunities.

Two-way trade value between Viet Nam and Spain has obtained an average growth rate of 20 per cent in recent years. Spain is a large export market for Vietnamese key products including footwear, garments, coffee, seafood and wood.

As of last year, Spain had 16 projects in Viet Nam with a combined registered capital of more than US$20 million, ranking 55 among 89 foreign investors in Viet Nam. — VNS

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