Prince Philippe of Belgium will lead a business delegation to visit Vietnam from March 11-16.
The delegation will be accompanied by Foreign Minister Didier Reynders and representatives of 300 businesses operating in water and sewerage management, transport, port, logistics and health care.
Belgian Ambassador to Vietnam Bruno Angelet said this will be an opportunity for the two countries’ businesses to seek potential and reliable partners.
Prince Philippe is scheduled to meet high-ranking Vietnamese leaders, visit the Dinh Vu Industrial Zone and attend signing ceremonies of the two countries’ companies, organisations and universities. Around 40 contracts are expected to be signed between Vietnam and Belgium during the visit, said the Belgian diplomat.
The Belgian business delegation will also hold four seminars on how to develop transport, logistics and wharves; water and wastewater treatment; food, agriculture technology and aquaculture; and healthcare services.
Ambassador Angelet said Belgium will announce a credit fund for Vietnam’s small and medium-sized enterprises (SMEs).
Belgium and Vietnam established official political and economic ties in 1973 and two-way trade has doubled over the past decade.
Belgium exports were worth around US$275 million to Vietnam each year and imports around US$848 million.
At present, Belgium exports mainly chemicals, medicine, machinery and equipment, steel and other metal to Vietnam while importing footwear, textiles, garments and vegetables from the Southeast Asian nation.
Its direct investment in Vietnam now stands at around US$108, mainly in dredging, health care, port management, biotechnology and satellite technology and waste water treatment. The country has also pledged to increase its current ODA provision of US$25 million each year to Vietnam’s water resource management, education and capacity development.