MINSK – Việt Nam welcomes and will create favourable conditions for Belarusian enterprises to expand investment and business in Việt Nam, said President Trần Đại Quang.

Addressing a Vietnam-Belarus economic seminar in Minsk, on Tuesday, President Quang said “Belarus is a priority partner in Việt Nam’s relationship with the Eurasian Economic Union”.

He said business communities of both countries should go beyond economic co-operation to initiate new ideas and create fresh impetus for bilateral trade and investment links, further strengthening the relationship between Việt Nam and Belarus

“Việt Nam has attracted more than $300 billion in foreign direct investment from 119 partners, becoming an important link in the global value chain, especially in electronics, garments and textiles and agriculture.

“The country has invested in 72 countries and territories with a total registered capital of $21 billion, in the fields of mining, telecommunications, agro-forestry, IT, finance-banking and services,” he said.

Việt Nam hoped to receive more investment from Belarus, particularly in areas of its strengths, like automobile and automotive components manufacturing, mechanics and industrial devices, Quang said.

He said Viet Nam also encourages local enterprises to invest in Belarus in IT, consumer products and agriculture. The Government will make it easy for Belarusian firms operating in industry, mechanics, energy and minerals to bring their products and services to Việt Nam, Quang said.

Belarusian President Alexander Lukashenko praised Việt Nam’s dynamic development, saying his Government will also support Vietnamese enterprises to enhance their investment and business activities in the country.

Belarus wishes to boost industrial production co-operation with Việt Nam, and the country will establish a tractor and power excavator manufacturing joint venture in Việt Nam in the future, he said.

Lukashenko said that many leading Belarusian hi-tech firms planned to open factories in industrial parks in Việt Nam to manufacture auxiliary equipment.

Belarusian firms are also willing to share their experience in developing metro systems and underground projects, he said.

Lukashenko stressed that Belarus considers Việt Nam a bridge to reinforcing its position in Southeast Asia by bringing its products and services to other ASEAN nations.

Likewise, Vietnamese firms can use the Belarus market as a gateway to Europe, he said.

The seminar brought together nearly 500 businesses from both countries. — VNS