Vietnam encourages Danish investment

(VOV) - Vietnam will continue improving its investment environment to facilitate the operation of foreign businesses, including those from Denmark, in the country.

State President Truong Tan Sang made the commitment at a joint Vietnam-Denmark business forum in Copenhagen on September 20.

He noted that two-way trade has increased considerably over the years, from nearly US$320 million in 2008 to nearly US$470 million in 2012.

Currently, Denmark has 106 operational projects capitalised at over US$674 million in Vietnam, ranking 25th among more than 100 foreign investors in the country.

These projects mainly specialise in processing and manufacturing industries, transport, warehouse and forwarding, wholesale and retail services.

They have made a significant contribution to Vietnam’s socio-economic development, Sang said.

He stressed that Denmark is one of Vietnam’s leading economic and trade partners in North Europe and the European Union.

He expressed optimism about a sharp rise in bilateral trade following the signing of the 2012 Vietnam-EU Partnership and Cooperation Agreement (PCA) and especially the upcoming signing of a free trade agreement (FTA) between the two sides.

According to Sang, the global economy has learnt valuable lessons from its recent financial and economic crisis and now shifted to green and sustainable development.

The establishment of the Vietnam-Denmark strategic partnership in climate change, energy, the environment, and green growth, testifies to Vietnam’s efforts in addressing global challenges and developing a ‘cleaner’ and ‘greener’ economy.

This process opens up plenty of opportunity for the business communities of the two countries, and Danish businesses should seize this golden chance to increase their market share in Vietnam, said President Sang.

He said both economies can supplement each others, citing the fact that Denmark has a highly financial capacity and a highly developed scientific and technological level, while agriculture-based Vietnam has a young, skilled workforce, and a large market of more than 90 million consumers.

Vietnam wants to cooperate with Denmark in its strong areas such as renewable energy development, maritime transport, seaport construction, pharmaceuticals, machinery manufacturing, and food production.

By entering Vietnam, he said Danish businesses have the chance to penetrate a larger, lucrative market of nearly 620 million consumers in Southeast Asia, as well as other markets in Asia.

Vietnam welcomes and creates the best possible conditions for Danish companies to do long-term and efficient business in the country, he assured participants.

Earlier the same day, President Sang met with Copenhagen Mayor Frank Jensen, appreciating the establishment of the comprehensive partnership between Vietnam and Denmark.

Sang said Hanoi capital and other cities of Vietnam want to learn from Copenhagen’s experience in urban development and management to keep them clean and green.

He witnessed the signing of a memorandum of understanding on cooperation in urban planning, infrastructure construction, and green growth between Hanoi and Copenhagen.  

He also met with executives of several leading Danish companies, visited a number of universities, and attended a Vietnamese cuisine show.

President Sang paid a State-level visit to Denmark from September 18-20 at the invitation of Queen Margrethe II.