Vietnam, Spain boost trade promotion

(VOV) -Huge potential for trade cooperation between Vietnam and Spain was introduced at a March 26 meeting in Hanoi by the Spanish Embassy and the Vietnam Chamber of Commerce and Industry (VCCI).

VCCI Vice Chairman Hoang Van Dung emphasised that Vietnam is widely considered an attractive destination for foreign investors, including those from Spain, due to its abundant young labour force, rich natural resources and political stability.

Vietnam offers a variety of incentive policies to international investors, especially in the fields of infrastructure, agriculture, telecommunications, health care, education, tourism, and green growth, he said.

Spanish Ambassador to Vietnam Alfonso Tena said the meeting has created a good chance for the two business communities to strengthen cooperation and seek trade partners.

Spain's Minister of Foreign Affairs and Cooperation José Manual García-Margallo reported his country – the fourth largest economy in the Eurozone – is recovering thanks to its comprehensive administrative, institutional and property market reforms.

Spain is willing to share its experience with other countries in overcoming economic difficulties, he added.

Minister José highlighted that Vietnam’s impressive growth and Spain’s rapid economic recovery have offered an opportunity to boost bilateral cooperation in various fields.

Spanish business representatives answered questions relating to trade and investment.

Two-way trade between Vietnam and Spain hit more than EUR2 billion in 2013. Currently, Spain ranks 59th among foreign investors in Vietnam, with a total registered capitalization of US$30.3 million.