Vietnam and Middle East and North African countries have great advantages and potential for boosting effective cooperation in the future, Prime Minister Nguyen Tan Dung has said.
Vietnam and Middle East and North African countries have great advantages and potential for boosting effective cooperation in the future, Prime Minister Nguyen Tan Dung has said.
Addressing an international forum in Hanoi on November 4, Dung noted Vietnam is an ideal investment destination, with a stable socio-political environment, a lucrative market of about 90 million consumers, and an abundant labour force.
In addition, he said the country is located in Asia and the Pacific – a dynamic region that is leading the global economy.
 |
PM Nguyen Tan Dung said Vietnam is improving the business climate to support foreign operations
The Vietnamese government hopes the Forum for Economic Cooperation between Vietnam and Middle East and North African Partners will add fresh impetus to bilateral cooperation, primarily in economics, trade, investment, oil & gas, and labour, said Dung.Dung highlighted the economic geographical position of the Middle East and North Africa which connects Asia-Europe and Africa, and has rich natural resources, especially oil and gas.
He asked policymakers and business executives of both sides to share information and experience to create a highly competitive and attractive investment environment for the two business circles to successfully operate in each other’s markets.
He called on them to make in-depth discussions and proposals to help their governments to improve the efficiency of cooperation mechanism and ease business difficulties, facilitating their operations.
 |
|
Delegates showed their strong resolve to strengthen bilateral cooperation |
Both sides should expand cooperation in the areas of their strength, such as trade, energy, mining and infrastructure development. To do this, Dung said, they need to formulate and sign agreements to create a stable, long-term legal corridor for cooperation in these areas.
In addition, he said, they need to enhance the efficiency of cooperation in agriculture, labour, education-training, health care, culture, and tourism.
Vietnam and several African countries have gained a wealth of experience in agricultural production under a current tripartite cooperation model (between Vietnam, an African nation, and the Food and Agriculture Organisation).
With its abundant and skilled labour force, Vietnam is able to meet a high demand for employment from Middle East and North African nations. It has developed cooperation projects with a number of African countries in the area, and the efficiency for this cooperation should be enhanced in the near future.
PM Dung said Vietnam is implementing its socio-economic development strategy till 2020, focusing on finalising its institutional and legal system, developing modern infrastructure, and generating quality human resources, along with restructuring the economy and renewing its growth model for rapid and sustainable development.
The country is joining negotiations of key free trade agreements (FTAs) such as Regional Comprehensive Economic Partnership, Trans-Pacific Partnership, and FTAs with the European Union, and the Customs Union of Russia, Belarus and Kazakhstan.
These agreements will open up plenty of cooperation opportunity for not only Vietnamese businesses but also foreigners doing business in the country.
“We are committed to creating the best possible conditions for foreign investors to do efficient, long-term business in Vietnam,” Dung assured the participants. “Your success is ours.”
 |
|
African delegates attending the forum |
During the two-day event, policymakers and business executives from Vietnam, and Middle East and North African nations are scheduled to examine the investment and business environment in both sides, and the possibility of greater cooperation in energy, trade, infrastructure development, labour, agriculture and tourism.
Vietnam has established 12 diplomatic missions in Middle East and African nations, while 15 African nations have opened their representative offices in Vietnam.
Two-way trade has increased by 878% in the past decade, from US$889 million in 2002 to US$7.4 billion in 2012.
African businesses are investing in Vietnam’s oil & gas, seaports, industries, and real estate market. In turn, some Vietnamese businesses are developing projects in the region, including oil and gas projects in Algeria by the Vietnam National Oil and Gas Group.
Approximately 26,000 Vietnamese nationals are currently working under contracts in Middle East and North African nations.
(Source:VOV)
