Vietnam encourages investment from Bulgarian businesses

In Vietnam and Bulgaria businesses talk, Prime Minister Nguyen Tan Dung wished more Bulgaria investment in Vietnam will be encouraged from businesses in Bulgaria in modern agricultural projects, pharmaceuticals, clean energy, and mechanical engineering.

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In the framework of the official working visit to Bulgaria on June 5, Prime Minister Nguyen Tan Dung hosted the talk between Vietnam and Bulgaria. Also attending the dialogue, in the side of Vietnam, there were the participations of official delegations and business delegation; in the side of Bulgaria, there were the participations of Deputy Prime Minister Tomislav Donchev in charge of economic affairs, Minister of Economy Bojidar Lukarski, and nearly 100 representative of Bulgarian enterprises. Speaking at the talk, the Bulgarian Deputy Prime Minister said that Vietnam was an important counter part to Bulgaria. The Vietnam - Bulgaria relation remains solid foundation by dint of the intimate relationship between the two peoples.

Deputy Prime Minister Tomislav Donchev highly appreciated the achievements of Vietnam in the Reform period, as well as in the socio-economic development, and international integration todays. Bulgaria supports towards the signing of the Vietnam - EU Free Trade Agreement, to the benefit of Vietnam and the EU Member States. Deputy Prime Minister of Bulgaria proposed besides the strong export items such as coffee, pepper, and rice, Vietnam can export to Bulgaria with high-added-value products. The Deputy Prime Minister Tomislaw Donchev confirmed that on the basic of existing foundation, two sides are trying to boost the relation of two countries towards strategic partnership relation in the future. Then, Vietnam will become a focal point for Bulgaria to expand relations with ASEAN and other the countries in the Asia-Pacific region. In Bulgarian side, the country is ready to be the gateway for Vietnam goods to enter EU market. Bulgaria is ready to share experiences with Vietnam in the modern technology projects like renewable energy, environmental protection technology.

At the talk, Prime Minister Nguyen Tan Dung introduced to representatives of economic sectors and enterprises in Bulgaria about Vietnam - a developing dynamically country and an attractive destination for foreign investors. Vietnam is actively integrating with economic international integration, which is the central point. Prime Minister Nguyen Tan Dung stresses that 2015 will be the year marking the 65th anniversary of Vietnam - Bulgaria diplomatic relation foundation. Vietnam and Bulgaria are long-lasting traditional partners of each other with more than 4,000 Vietnamese experts being train and worked in Bulgaria. Until now, there are 10 Bulgaria FDI projects in Vietnam with total registered capital of about US$ 31 million in the areas of manufacturing, and information technology... However, the bilateral trade turnover is still modest when considering the long tradition of relations, prospects and intentions of cooperation between the two sides in recent years.

He affirmed that Bulgaria was a young, dynamic country with fascinating history, strategic location in Central-Southern EU. Vietnam highly appreciated the economic policies and strengths of Bulgaria in terms of mining, energy, basic business, chemicals, pharmaceuticals, agriculture, livestock, manufacturing, and welcome role in connecting economic cooperation between the countries of Central-Southern Europe and Asia, including Vietnam.

The Prime Minister also affirmed that Vietnam encouraged enterprises in Bulgaria to invest in promoting projects of major sectors in Vietnam economy as modern agriculture, pharmaceuticals, clean energy, mechanical engineering... Also he ordered Vietnam enterprises to enhance export promotion of products having advantages such as agricultural products, electronic products, textiles, and seek opportunities to import high quality products with competitive costs from Bulgaria such as mechanical equipment, pharmaceuticals and foodstuffs. Answering the concerns of enterprises in Bulgaria, Prime Minister Nguyen Tan Dung shared practical experiences of Vietnam in coping with the financial crisis of the global economy, introduced policies and specific incentives to attract foreign investments in Vietnam. Regarding new Vietnam - Bulgaria economic cooperation model, Prime Minister affirmed that it was an initiative of Bulgarian President that Vietnam sympathized and supported.

The two sides agreed to establish a working group to propose the sectors, products, and enterprises concretely to implement this model. After the talk, Vietnam businesses and Bulgaria businesses took the time to connect directly under each area of interest such as finance, banking, petroleum, textile, agriculture and food processing, import and export, infrastructure construction, power electronics, and mechanical engineering. Previously, PM Nguyen Tan Dung had a meeting with the Chairman of Prista Oil Plamen Bobokov Group, Chairman of the Federation of Employers and Industrialists of Bulgaria - Kiril Domuschiev, Chairman of Bulgatabac Tobacco - Ventsislav Cholakov, Chairman of the Board of Management Association Bulgaria Industrial capital - Vasil Velev, President Chamber of Bulgarian Commerce and Industry - Tsvetan Simeonov, President of Bulgarian Economic Chamber,  and CEO of Agency for small and medium-sized enterprises in Bulgaria - Bojidar Danev Marieta Zaharieva.