Bulgarian – Vietnamese Business Forum organized by BCCI

 

The Bulgarian – Vietnamese Business Forum held in Sofia was another step in the development of the bilateral commercial relations between the two countries. It was organized by the Bulgarian Chamber of Commerce and Industry in cooperation with the Ministry of Agriculture and Food and the Ministry of Economy, Energy and Tourism. The forum was held within the 22nd session of the Intergovernmental Bulgarian – Vietnamese Joint Committee for Trade and Economic, Scientific and Technical Cooperation, which takes place in the period 5th – 9th June 2012. 

The President of BCCI Tsvetan Simeonov opened the forum and said that Vietnam is a traditional partner of Bulgaria in Asia. In the new conditions, bilateral cooperation faces new challenges. Bulgaria is part of the European Union and the closest EU Member State to Asia. Vietnam, as part of ASEAN is a very attractive business destination. Mr. Simeonov said that our country is a source of stability on the Balkans, just like Vietnam in its region. He reminded that there are unused opportunities for cooperation. Trade turnover and the size of investments do not correspond to the existing potential. 

Representatives of more than 30 Bulgarian companies attended the forum and took part in the subsequent meetings with the Vietnamese delegation of 9 businessmen.

The Chair on the Bulgarian side of the Intergovernmental Bulgarian – Vietnamese Joint Committee for Trade and Economic, Scientific and Technical Cooperation Mr. Tsvetan Dimitrov, Deputy Minister of Agriculture and Food also addressed the participants in the forum and said that among them were traditional partners from the two countries, as well as young entrepreneurs with strong interests towards developing bilateral economic cooperation. He emphasized that the Economic Cooperation Agreement signed in 2006 between the two countries provides good basis for the development of bilateral trade and economic relations. Deputy Minister Dimitrov emphasized Bulgaria’s advantages as an investment destination. He said that the Government is working according to the plan to reduce the administrative burden, which would allow businesses to save up to BGN 300 million yearly. Trade in high value-added goods must be promoted. There is great potential for cooperation in the field of tourism. 

Mrs. Ho Thi Kim Thoa, Deputy Minister of Industry and Trade of the Socialist Republic of Vietnam and Chair on the Vietnamese side of the Intergovernmental Bulgarian – Vietnamese Joint Committee said that the delegation from Vietnam comprises public officials and businessmen representing 17 sectors of industry. She briefly presented the economy of Vietnam, which has trade contacts with more than 200 countries and economic areas worldwide. In 2011, GDP growth in Vietnam was 5.7%. The country’s export list contains products such as pepper, cashew, textile, rubber, rice, coffee, fish and seafood. The country imports machines, equipment, spare parts and consumer goods. Last year Vietnam registered 16% growth in the field of IT. In 2011, 6 million foreign tourists and 36 million local guests attended Vietnam. Revenue from tourism amounted to USD 6 billion. The state works actively to improve the investment climate. Consumer potential in the country increases by 20% each year. The population of Vietnam - 87 million people - has a general purchasing power estimated at USD 80 billion.

During the forum the excellent cooperation between BCCI and the Embassy of Vietnam in Sofia was emphasized. 

The forum continued with presentations of the economy by Mr. Hristo Stankov from Invest Bulgaria Agency and Mr. Nguen Thai Hoa, Commercial Counselor at the Embassy of Vietnam in Sofia. Later on, the participants shared their experience in bilateral trade and held many business talks. 

08.06.2012