Prime Minister Pham Minh Chinh and Algerian Prime Minister attend Vietnam

Photo caption — Prime Minister Pham Minh Chinh and Algerian Prime Minister Sifi Ghrieb at the Vietnam-Algeria Economic Forum. Photo: Duong Giang/VNA

Over the past 60 years, the diplomatic relations between Vietnam and Algeria have been continuously nurtured. Economically, Algeria is currently one of Vietnam's important trade partners in Africa. Two-way trade turnover in 2024 reached 198.3 million USD. Vietnam mainly exports coffee, pepper, metals and chemicals to Algeria and mainly imports vegetables, animal feed and raw materials from Algeria. The two sides aim to soon reach a trade turnover of 1 billion USD in the coming time. Regarding investment, the two sides have a number of projects, most notably projects between large enterprises of Vietnam and Algeria in the field of oil and gas exploration and exploitation.

With more than 500 delegates representing Government agencies and businesses of Algeria and Vietnam in attendance, the Forum was held right after the two countries upgraded their relations to Strategic Partnership, demonstrating the two countries' determination to soon realize the new cooperation framework; expand diplomatic - trade - investment cooperation, towards a deeper and more substantial development phase.

At the forum, delegates were introduced to the potential, needs and investment environment of Vietnam and Algeria; and discussed issues aimed at opening a new, more vibrant, sustainable and effective chapter of cooperation between the two countries; towards a substantive strategic partnership, where each cooperation project is a step forward, each success is a testament to the deep friendship and common interests of the two peoples.

Speaking at the forum, Algerian Prime Minister Sifi Ghrieb welcomed the forum with the goal of moving towards an effective and sustainable economic partnership between Vietnam and Algeria, demonstrating the determination of both countries, not only for good memories but also to quickly implement the framework of the Strategic Partnership that the two sides have just agreed to upgrade, for future development.

Thanking businesses and investors from both Algeria and Vietnam for their contributions to the economies of the two countries, which are in the process of economic transition and enhancing regional integration, Prime Minister Sifi Ghrieb expressed his confidence that with the large participation and determination of businesses, new vitality and new opportunities will be created for both sides. Through new cooperation, the space and scope for cooperation between the two countries will be expanded.

The Algerian Prime Minister believes that each country must be proactive in seeking export products, finding a solid position in each country, in the direction of increasingly diversifying and multilateralizing export products, promoting trade exchanges between the two countries. Algeria wants the products that Algeria has exported to the world to have a position in Vietnam, especially products of plant origin, pharmaceuticals, fertilizers, and commodity products.

The Algerian Prime Minister suggested that Algerian businesses and investors negotiate with Vietnamese businesses to find specific cooperation agreements so that Algeria can export more products to the Vietnamese market and vice versa, especially in the fields of technology, agriculture, digital transformation, energy, oil and gas, pharmaceuticals, and tourism promotion.

Informing that Algeria has issued many laws, mechanisms and policies to attract investment and upgrade infrastructure; committed to simplifying procedures to attract more investment from Vietnam to Algeria, Prime Minister Sifi Ghrieb said that Algeria currently has a strategic position, being the gateway to the Middle East, Africa and Europe. Algeria is a friendly country with Vietnam; businesses should take this opportunity to cooperate with NAM-NAM countries. Algeria will organize many international investment forums, hoping that in the coming time, with the presence of Vietnam, Algeria's role will be enhanced in the region.

Speaking at the forum, Prime Minister Pham Minh Chinh said that the Vietnam - Algeria Economic Forum is historic because: The Forum received the attention of General Secretary To Lam and the President of Algeria, as well as the participation of the Prime Ministers of both countries; The Forum was held right after the two countries upgraded their relationship to a Strategic Partnership; This is the largest-scale forum ever between the two countries; The Forum covers all economic fields, as the Algerian Prime Minister affirmed, economic cooperation between Vietnam and Algeria is limitless.

The Prime Minister emphasized that the Vietnam-Algeria relationship in the past and up to now has been that of good friends, partners, and brothers, especially in the struggle for national independence and freedom. Therefore, in the present and the future, there is no reason to prevent the two countries from continuing to be good friends, partners, and brothers in economic development so that each country can develop civilized, powerful, prosperous, and the people can become increasingly happy and prosperous.

Sharing about the situation in Vietnam, the Prime Minister said that after 80 years of gaining national independence, Vietnam has gone through a long period of war, siege and embargo. Vietnam has carried out the process of innovation and national development based on three pillars: socialist democracy, socialist rule of law state, and socialist-oriented market economy. Vietnam takes Marxism-Leninism, Ho Chi Minh thought and its culture and history of more than 4,000 years as its foundation.

Currently, Vietnam is implementing three strategic breakthroughs in infrastructure, institutions and human resource training. Along with that, it is implementing six key tasks: building an independent, self-reliant, proactive economy, actively integrating substantially and effectively; maintaining political stability and social order and safety; implementing the "4 no" defense policy; an independent, self-reliant, diversified, multilateral foreign policy, being good friends and reliable partners with all countries in the world, being a responsible member of the international community; building an advanced culture, imbued with national identity and absorbing the quintessence of human culture; ensuring fairness, progress, social security, leaving no one behind in the development process; building a clean and strong Party and political system. "These are important foundations and conditions for businesses, including Algerian businesses, to invest and do business stably and effectively," the Prime Minister affirmed.

Assessing Algeria's geographical location, climate, resources and many potentials and strengths for investment, Prime Minister Pham Minh Chinh suggested that Vietnamese enterprises focus on investment cooperation in Algeria in the energy sector, including oil and gas exploitation, petrochemical refining, wind and solar energy development; at the same time, research and invest in the fields of agriculture, fisheries, agricultural and aquatic product processing, production, science and technology, as affirmed by the Algerian President, Vietnamese enterprises can invest in Algeria from tea planting to chip production, 5G products, in the spirit of "the interests of Algeria are the same as the interests of Vietnam; the interests of the Algerian people are the same as the interests of the Vietnamese people; the achievements of enterprises in Algeria are the same as the achievements of Vietnamese enterprises".

Proposing that the two sides establish and upgrade existing cooperation mechanisms to promote cooperation and investment, Prime Minister Pham Minh Chinh believes that with new momentum, new motivation, new resources, and the results achieved, the two countries will act in line with the Vietnam - Algeria Strategic Partnership and be worthy of the precious legacy that previous generations have built.

The Prime Minister emphasized that the policy belongs to the two States and the leaders, but to turn the policy into a concrete product, it must be done by the ministries, branches, especially the businesses of the two countries to take advantage of the different potentials, outstanding opportunities, and competitive advantages to develop two prosperous countries, the people of the two countries enjoy prosperity and happiness, with the results of each year being better than the previous year, the next decade being better than the previous decade, the next millennium being better than the previous millennium.

Source: https://baotintuc.vn/thoi-su/thu-tuong-pham-minh-chinh-va-thu-tuong-algeria-cung-du-dien-dan-kinh-te-viet-nam-algeria-20251120060858278.htm