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IBA presented investment opportunities to vietnamese industry

September 10, 2020

Regarding to the 70th anniversary of the establishment of diplomatic relations between the Republic of Bulgaria and the Socialist Republic of Vietnam, a joint online business forum was held with bilateral meetings between companies from both countries.

The Bulgarian small and medium enterprises promotion agency (BSMEPA) at the Ministry of Economy of the Republic of Bulgaria and the Vietnam Trade Promotion Agency (VIETRADE) at the Ministry of Trade of Vietnam are the organizers of the forum, which was attended by InvestBulgaria Agency /IBA/

Mrs. Irina Kirova, General Secretary of IBA gave a presentation to the forum participants. The attractive tax system of Bulgaria, the low costs of doing business compared to our neighbouring countries, the investment climate in the country were presented and the advantages provided by the measures for investment promotion and the state mechanisms for their implementation were explained.

Her presentation also emphasized on some of the best developing sectors of the Bulgarian economy, such as information and communication technologies, the automotive sector and the food industry, among others.

It was indicated that a number of companies from the Asian country are already developing successful business in Bulgaria, and they are actively working to expand their activities and increase their exports to the European Union.

The Business Forum presented to the interested companies the opportunities on the Vietnamese market and the conditions for implementation of joint projects, as well as the regulatory framework on the territory of the country, and in separate virtual halls divided by sector.

Representatives of Vietnamese companies from the following areas took part:

  • producers of agricultural goods
  • food industry - coffee, tea, spices, nuts
  • clothing, protective masks of fabric
  • chemical industry - plastic household products; ecological disposable products, etc.

On the Vietnamese side, there is also interest in the import of agricultural products, construction materials, heavy chemical products (rubber and rubber products, wood panels); textile and footwear industry; services in the field of medicine, hotel and restaurant business, etc.