Vietnamese and Turkmenistan firms enhance business co-operation

This statement was made by Deputy Minister of Foreign Affairs of Turkmenistan Vepa Hajiyev at the ongoing Vietnam-Turkmenistan Business Forum on June 29.

The event is part of a range of activities taking place to mark the visit by a delegation of more than 40 Turkmenistan enterprises led by the Deputy Minister Hajiyev from June 29 to July 1.

Upon addressing the event, Deputy Minister Hajiyev highlighted the country's great efforts made to promote diplomatic ties and economic co-operation between the two countries over the past 30 years.

He emphasised the need to boost trade exchanges and investment attraction between both sides, especially in advantageous areas. 

At present, Turkmenistan possesses many strengths in fields such as natural gas, cotton, fabrics, and carpets of all kinds, while the country is capable of producing industrial products, as well as consumer items such as tea, coffee, and seafood which can meet Turkmenistan’s import demand.

Bui Trung Nghia, vice president of the Vietnam Chamber of Commerce and Industry (VCCI), outlined that the country recorded the highest average annual GDP growth rate in the world at approximately 7% in the 1991 to 2021 period.

Despite the negative impacts of the COVID-19 pandemic, the country ranked among the few nations with a GDP growth rate exceeding 2.58% in 2020 and 2021, with this rising to 5.03% in the first quarter and 6% in the second quarter of the year.

Along with advantages gained through political stability, an abundant and qualified workforce, transport infrastructure, and rapid digital transformation, the nation has also emerged as a leading attractive destination for FDI attraction.

So far, investors from 139 countries and territories globally have so far invested over US$420 billion in the Vietnamese market. Last year witnessed some the world's leading corporations, such as LG, Samsung, Intel, and LEGO invest heavily in the nation, despite challenges relating to COVID-19.