Argentinian businesses attending a seminar on market development potential in Vietnam discussed with representatives of the Vietnamese Trade Office the possibility of expanding investment between the two countries in the future.
On August 14th, the Asia -Pacific Chamber of Commerce of Argentina organized a seminar on the potential for investment and trade market development in Vietnam, with the participation of numerous Argentinian businesses.
According to the VNA correspondent in Buenos Aires, in his opening remarks at the seminar, the President of the Asian Chamber of Commerce, Rallys Pliauzer, assessed that after more than 50 years of establishing diplomatic relations, the relationship between Argentina and Vietnam has continuously developed in all fields, especially in trade exchange, and affirmed that the potential for cooperation between the two countries remains very large.
Ambassador Mario Schuff, senior advisor at the Asia-Pacific Chamber of Commerce, highlighted Vietnam's economic achievements in recent years, as well as the efforts of businesses in both countries to promote trade, with turnover exceeding US$3.5 billion last year. Argentine businesses are very interested in Vietnam's trade and investment market.
Speaking at the seminar, Vietnamese Ambassador to Argentina Ngo Minh Nguyet introduced Vietnam's economic and social achievements in recent decades, especially in 2023, when Vietnam's economy ranked 34th in the world, with a growth rate of 5.05%, and an estimated growth rate of 6.42% in the first half of this year after reaching 5.66% in the first quarter.
According to the International Monetary Fund (IMF), in 2023, Vietnam ranked third in Southeast Asia with a GDP based on purchasing power parity (GDP PPP) of approximately US$1.438 trillion, after Indonesia (US$4.391 trillion) and Thailand (US$1.563 trillion), ranking 25th in the world.
By 2026, Vietnam's GDP through public-private partnerships (PPP) is projected to reach approximately US$1.833 trillion, surpassing Thailand and ranking second in Southeast Asia, after Indonesia.
Ambassador Ngo Minh Nguyet also stated that in the first six months of 2024, import and export turnover reached US$368.53 billion, an increase of 15.7% compared to the same period last year, of which exports exceeded US$190 billion, an increase of 14.5%, thanks to the recovery of global demand, especially in Vietnam's major partners such as the US, EU and ASEAN. The trade surplus reached US$11.63 billion, contributing to exchange rate stability and increasing foreign exchange reserves.
Vietnam continues to be a preferred destination for foreign investors. In the first six months of the year, total registered FDI capital in Vietnam reached approximately US$15.2 billion, an increase of 13.1% compared to the same period last year. Disbursed FDI capital reached US$10.84 billion, an increase of 8.2%, the highest year-on-year increase in six years.
Ambassador Ngo Minh Nguyet affirmed that this result demonstrates that investors have confidence in Vietnam's opportunities and growth prospects thanks to the shift in global supply chains.
Ambassador Ngo Minh Nguyet affirmed that the Vietnamese Government continues to strive to improve institutions, remove difficulties and obstacles, prioritize promoting economic growth, and is ready to open its doors to welcome foreign businesses.
Businesses attending the workshop also discussed with representatives of the Vietnamese Trade Office in Argentina the possibility of expanding trade and investment between the two countries in the future.
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