Argentina's La Nacion newspaper recently published an article about the experience of Argentine businessmen investing in Vietnam and called on Argentine businesses to pay attention to the market of this Southeast Asian country.
An article by Argentina's La Nacion newspaper calls on businesses from this country to invest in Vietnam. Photo: VNA
According to a VNA reporter in Buenos Aires, in the "Business in the world" column of Argentina's leading prestigious newspaper, La Nacion, Vietnam is the 10th largest economy in Asia, with a Gross Domestic Product (GDP) of 410 billion USD and is forecast to grow by 6.5% in 2024, with an inflation rate of 3.4%. In the article titled "Invest in Vietnam, a market with a stable economy", journalist Gabriela Origlia said that in the first 11 months of 2023, Argentina's export turnover to Vietnam reached nearly 2 billion USD, down 34% compared to the same period in 2022, with a surplus of 640 million USD for the South American country. The author of the article said that unlike other countries, there are very few Argentine investors in Vietnam. In Hanoi, there is only one restaurant with a true Argentinian style, “Los Fuegos”, a joint venture between a Vietnamese businessman and an Argentine businessman, Emilio Fusse. However, most of the beef used in the restaurant is imported duty-free from Australia and New Zealand. In Ho Chi Minh City, the economic and financial center of Vietnam, there are only two Argentinian businessmen who are promoting the establishment of a Chamber of Commerce to serve cooperation and attract investors from the South American country, as well as from Vietnam to Latin America’s third largest economy. The article shares the positive opinions of businessmen Guillermo Cena and Santiago Campanera about the investment environment in Vietnam. Businessman Cena runs a company that imports products from Argentina and owns a store called Del Plata Argentina Market, located in Thao Dien, District 2, Ho Chi Minh City. He has been investing in Vietnam for five years. According to him, Vietnam is a market with many “opportunities and diversity” for Argentine export companies as well as investors, although it is not “easy”. Investing in Vietnam “requires long-term planning” and needs “openness due to cultural differences”. Vietnam is a potential market for Argentine products and services, with about 100 million people, among whom there is a segment of customers who demand “high-quality food”. Meanwhile, businessman Campanera works in the leather sector, with 13 years of experience investing in Asia. In 2017, he decided to move his factory to Vietnam and established a company called Serendipity Bros. This businessman believes that Vietnam has a very open market economy and asserts that investors should be present in the Asian market. Mr. Campanera called on Argentine investors to come to Vietnam with many opportunities because Vietnam has a stable and growing economy. The Vietnamese government is very open, always creating opportunities to develop production and integrate into the world. Argentine businessmen share the view that from the Vietnamese market, investors can expand their operations to Thailand, Malaysia and other countries in Asia. Mr. Cena imports beans and chia seeds to Vietnam and said that in the future, he will expand and diversify Argentina's agricultural products. Mr. Campanera said that Argentine businesses should not only export but should come to Vietnam to open companies to better understand market needs.
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