Forum examines ways to bolster ties with Iran in economics, trade, and investment
VOV.VN - National Assembly (NA) Chairman Vuong Dinh Hue on August 9 gave a speech on the morning of August 9, local time, at the Policy and Law Forum which aims to promote linkages with Iran in economics, trade, and investment co-operation as part of his official visit to the Islamic Republic of Iran.
In his speech, Hossein Selahvarzi, chairman of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) highlighted the huge potential to build economic and trade links between the two nations as the Vietnamese and Iranian market are complementary to each other.
The two Governments and legislatures support economic and trade ties between the two countries. However, the current level of economic and trade co-operation is not commensurate with political and diplomatic relations. That requires the two sides to make further efforts to find solutions to ramp up collaboration in this field.
Upon addressing the event, the top Vietnamese legislator expressed his confidence that economic, trade, and investment activities of the two countries are growing more and will soon match the good political and diplomatic relations of the two countries.
NA Chairman Hue assessed that the better the Vietnam-Iran relationship, the better it is reflected through three factors, including mutual affection and respect; bilateral ties developing across multiple aspects from politics, diplomacy to economics, trade, and culture; whilst the two sides have actively co-operated and offered mutual support at multilateral forums.
Currently, the Vietnamese side is an attractive destination for international tourists, as well as being a safe and appealing destination for foreign investors. From a country that barely exports enough to import and earns not enough to spend, current Vietnamese import-export turnover in 2022 reached US$735 billion, thus becoming one of the 20 countries with the largest total trade in the world.
Regarding foreign investment, the nation has attracted more than 37,000 foreign investment projects with a total registered capital of US$450 billion. It is ranked by the UN among the top 20 countries with the most successful FDI attraction globally.
The two sides have so far built a number of important co-operation frameworks such as the Economic and Trade Joint Committee, with its 10th session set to be held in the third quarter of this year to resolve difficulties and obstacles. This will enable the two countries to overcome difficulties and increase trade turnover swiftly.
The Vietnamese NA leader suggested that the two sides must step up working groups on trade exchange and payment.
He believes that the immediate difficulties and long-term foundations for co-operation between the two countries’ businesses will be effectively solved step by step as a way of accelerating socio-economic development, thereby contributing to the common achievements of both countries.
NA Chairman Hue also shared with the Iranian business community details about the Vietnamese side’s new and breakthrough policies on visas which will take effect from August 15 this year, thereby creating favourable conditions for investors to explore opportunities in Vietnam, strengthen people-to-people exchanges, and tourism. Both nations are also speeding up the opening of direct flights between Tehran and Hanoi, he added.
The Vietnamese NA leader wished the two countries' co-operation opportunities within the framework of this forum and the business connection between the two countries moving forward will develop more and more, wishing Iranian businesses seek long-term co-operation opportunities in the country.