The Vietnam-Bulgaria Business Forum was held in Hanoi on October 11 to attract more investment and strengthen bilateral ties.
The event was held jointly by the Vietnam Chamber of Commerce and Industry (VCCI) and the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA).
Head of BSMEPA’s International Cooperation Department, Boriana Mintcheva, highlighted Bulgaria’s competitiveness and favourable geographical position in southeastern Europe, which can allow the country to expand to both southern and northern European markets.
She also affirmed her country’s incentive policies for promoting investment, especially in overseas markets. This is a good opportunity for Bulgarian businesses to invest in Vietnam and attract investment from the Southeast Asian nation.
At present, Bulgaria has more than 315,800 small and medium-sized businesses that are keen on the Vietnamese market.
Bulgaria exports machinery, pharmaceuticals and medical equipment while it imports a variety of Vietnamese agricultural products, including coffee, pepper and seafood.
Speaking at the event, Nguyen Hoa Cuong, Deputy Head of the Business Development Department under the Ministry of Planning and Investment, emphasized that Vietnam always creates a good business environment for foreign investors. It is now aiming to attract foreign direct investment (FDI) for infrastructure and training human resources.
According to Cuong, eight Bulgarian FDI businesses were operating in Vietnam in 2010, and the figure is expected to rise in the coming years.
During the forum, VCCI and BSMEPA signed a cooperation agreement, laying a foundation for the two countries’ businesses to tighten links in the future.