Bulgaria and Vietnam enhance their commercial and economic cooperation

The President of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov took part in the Bulgarian-Vietnamese economic forum on the topic of "Policy and legislation for the development of bilateral relations between the SR Vietnam and the Republic of Bulgaria". The event was organized by BSMEPA in cooperation with the Viet Nam Trade Promotion Agency (VIETRADE) and the Embassy of SR Vietnam in Sofia on the occasion of the visit of the Chairman of the National Assembly of Vietnam, Vuong Dinh Hue.

The event was opened by Nikolay Pavlov, Deputy Minister of Economy and Industry, who pointed out that the business forum was a good platform for sharing mutual ideas and projects "Bulgaria is ready to aid Vietnamese companies interested in investing in some nifty sectors of the Bulgarian economy as well as in areas of high added value and vivid competitiveness", the deputy minister said.

The Chairman of the National Assembly of Vietnam, Vuong Dinh Hue shared the forum was organized on the occasion of the 73 years’ anniversary of diplomatic relations and cooperation between the Republic of Bulgaria and the Socialist Republic of Vietnam. He underlined the importance of building strong bilateral ties by enhancing the commercial and economic cooperation, production and technology. Vietnam is a promising partner of the European Union and a country most appealing to investors because of its strategic geographical location and the 2022 economic growth of 9%, Vuong Dinh Hue noted.

Tsvetan Simeonov took part in the discussion panel of the forum, speaking of BCCI as a reliable ally in the development of bilateral economic relations. He advised on including an arbitration clause in contracts for entrepreneurs on both sides and drawing on the status of the Chamber as a provider of companies’ good standing. Simeonov also emphasized on the good cooperation between the Chamber and partners from Vietnam, citing the 14 bilateral business forums in Bulgaria and Vietnam from 2000 up to date, organized with the aim to promote bilateral relations. He shared that the Chamber has its own representative in Vietnam.

In its capacity as Chairman of the Association of Bulgarian Employers' Organizations for 2023, the BTPP arranged a special meeting of the Chairman of the National Assembly of SR Vietnam with representatives from Bulgaria who had the opportunity to present their business and interests in working with companies from Vietnam.