The Forum attracted nearly 500 delegates, including more than 100 Spanish businesses. Spanish Prime Minister Pedro Sánchez, Deputy Minister of Industry and Trade Phan Thi Thang, Vice Chairman of Ho Chi Minh City People's Committee Bui Xuan Cuong... attended the Forum.
Spanish Prime Minister Pedro Sanchez speaks at the Vietnam - Spain Business Forum in Ho Chi Minh City
Speaking at the opening of the Forum, Deputy Minister of Industry and Trade Phan Thi Thang said that Spain was the first European country to establish a strategic partnership with Vietnam since 2009 and has always been an important partner of Vietnam in the region as well as in the world . Trade between the two countries has grown steadily over the years, reaching 4.7 billion USD in 2024, making Spain Vietnam's 5th largest trading partner in the EU and Vietnam Spain's largest trading partner in ASEAN.
“However, economic, trade and investment relations are still not commensurate with the potential and strengths of the two countries. Import-export turnover between Vietnam and Spain accounts for only 0.7% of Spain's total import-export turnover and 0.6% of Vietnam's total import-export turnover. Spain's investment in Vietnam is still modest, ranking 46th out of 147 countries and territories investing in Vietnam. That shows that there is still a lot of room to expand economic - trade - investment relations,” said Deputy Minister Phan Thi Thang.
Deputy Minister Phan Thi Thang commented that in the context of the world economy experiencing many unpredictable challenges, strengthening relations between partners in the spirit of goodwill, mutual respect and cooperation for development is an inevitable trend.
Deputy Minister of Industry and Trade Phan Thi Thang speaks at the Forum
Deputy Minister Phan Thi Thang believes that today's Forum will be a bridge connecting and strengthening trade and investment cooperation between Vietnam and Spain. "I propose that business representatives of the two countries focus on promoting cooperation in areas where both sides have strengths and needs such as food processing industry, textiles, footwear, mechanical engineering, transport infrastructure and logistics services; tourism; renewable energy, clean energy towards sustainable development...", Deputy Minister Phan Thi Thang emphasized.
Deputy Minister Phan Thi Thang also hopes that through this forum, businesses from both sides will have more understanding of the market, grasp opportunities and better exploit cooperation and support mechanisms that the Government offers to businesses.
On the Spanish side, Prime Minister Pedro Sánchez said that Vietnam and Spain have a lot of room for comprehensive cooperation from trade, investment, tourism to science and technology, cultural exchange. The two sides need to act to turn that potential into effective cooperative relations, contributing to promoting bilateral relations as well as prosperous development between the EU and ASEAN regions.
“Vietnam is a dynamic and rapidly developing economy with a growth rate of over 7% by 2024. This is a figure that not every country can achieve in a context of many fluctuations and challenges. Spain wishes to become an active partner in Vietnam's goal of modernization and becoming a high-income developed country by 2050. With its strengths in industry, energy, transport infrastructure and especially urban railways, Spanish businesses can actively participate in Vietnam's strategic projects. Together, we must turn potential into reality on the basis of trust and respect towards the common interests of the two countries,” Spanish Prime Minister Pedro Sánchez emphasized.
Vice Chairman of the Ho Chi Minh City People's Committee Bui Xuan Cuong was pleased to see that after nearly 50 years since the establishment of diplomatic relations, cooperation between the two countries has become increasingly tight, most clearly demonstrated through positive trade figures. For Ho Chi Minh City, Spain is one of the important trade and investment partners and still has a lot of potential for development. Bilateral trade turnover in 2024 reached nearly 412 million USD; Spain currently has 44 investment projects in Ho Chi Minh City with a total registered capital of 16.2 million USD.
Vice President Bui Xuan Cuong believes that the forum will be an opportunity for businesses from both sides to learn and update the market situation, exchange practical business solutions, help Ho Chi Minh City businesses grasp and develop products that meet the standards of the Spanish and European markets, contribute to effectively exploiting opportunities from the EU - Vietnam Free Trade Agreement (EVFTA) and further promote bilateral economic cooperation...
Source: https://moit.gov.vn/tin-tuc/hoat-dong/hoat-dong-cua-lanh-dao-bo/viet-nam-tay-ban-nha-tang-cuong-hop-tac-kinh-te-thuong-mai.html
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