Azerbaijani businesses seek investment opportunities in Vietnam

Addressing the networking event, Mai Thi Dieu Huyen, vice chairwoman of the Women Entrepreneurs Council under the Vietnam Chamber of Commerce and Industry (VCCI), pointed out that the two countries have established a time-honoured relationship across various fields and have signed an intergovernmental co-operation agreement.

There are bright prospects ahead for trade and economic ties, particularly as the economic partnership between the two countries remains modest and does not match the potential that exists in their relationship, she added.

For his part, Azerbaijani Ambassador to Vietnam Shovqi Mehdizade revealed that the two-way trade turnover between both sides reached only US$160 million in 2021, despite witnessing a five-fold rise during the opening five months of this year.

Azerbaijan is now launching a direct air route in order to transport passengers and goods between the two countries, a move which is expected to contribute to further strengthening connectivity among businesses of the two sides in the future, said the diplomat.

Furthermore, there remains ample room for cooperation in fields such as agriculture and food processing, construction, chemical oil, renewable energy, transport, trade and logistics, mining, digital economy, tourism, and light industry, he noted.

Meanwhile, Sakina Babayeva, chairwoman of the Association of Women Entrepreneurship Development in Azerbaijan, stated that both Vietnam and Azerbaijan make up leading economies in their respective regions, with a keen interest in establishing active international relations.

She underscored the importance of female entrepreneurs in making relevant recommendations to help diversify transportation and logistics relations between the two countries and create a joint mechanism for exchanging information on successful projects carried out by women, as well as future projects.