Prime Minister Pham Minh Chinh attends the Türkiye-Vietnam Business Forum and receives leading economic groups

Prime Minister Pham Minh Chinh affirmed that the room for cooperation between the two countries is still very large, but the cooperation mechanism is still limited. Vietnam proposed that Turkey recognize Vietnam as a full market economy and that the two sides negotiate a free trade agreement... to create more favorable conditions for businesses of the two countries to invest and do business.

Thủ tướng Phạm Minh Chính dự Diễn đàn doanh nghiệp Thổ Nhĩ Kỳ-Việt Nam và tiếp các tập đoàn kinh tế hàng đầu

Prime Minister Pham Minh Chinh speaks at the Turkey-Vietnam Business Forum. (Source: VNA)

During his official visit to the Republic of Turkey, on the morning of November 30 (local time), in the capital Ankara, Prime Minister Pham Minh Chinh attended the Turkey-Vietnam Business Forum.

The forum was jointly organized by the Ministry of Planning and Investment, the Vietnamese Embassy in Türkiye and the Turkish Foreign Economic Relations Council. The forum was attended by leaders of ministries, sectors, agencies, localities and nearly 200 Vietnamese-Turkish business leaders.

Advantage of the intersection of 3 continents Europe-Asia-Africa

In recent times, trade and investment cooperation between Vietnam and Türkiye has developed well, with many large Turkish enterprises participating in Vietnam's infrastructure projects. Trade between the two countries reached 2.4 billion USD in 2022, with the potential to further increase trade turnover. Turkey is currently the largest direct investor from the Middle East in Vietnam, with a total registered investment capital of nearly 1 billion USD.

At the forum, the Vietnamese and Turkish business communities were introduced to the potential and needs for investment and business cooperation of each side; and shared successful lessons in cooperation and investment.

In particular, leaders of ministries and sectors of Vietnam and Türkiye answered questions of mutual concern to the business communities of the two countries. At the forum, a number of agencies and businesses of the two countries signed cooperation agreements.

Leaders of Turkish ministries and business community said that Türkiye has strengths and wishes to cooperate with Vietnam in the following areas: Construction of transport infrastructure, production of household goods, science and technology, finance, aviation, logistics, renewable energy, pharmaceuticals, agriculture, Halal industry... Turkey wishes to penetrate deeply into the potential Vietnamese market and through Vietnam to penetrate deeply into the ASEAN market.

Speaking at the forum, Prime Minister Pham Minh Chinh congratulated Turkey on its remarkable development, becoming one of the 20 largest economies in the world. Türkiye has focused on emerging industries, taking advantage of its position as the intersection of three continents (Europe, Asia and Africa) for development.

Among them, Europe has a high level of socio-economic development, Asia is a very dynamic developing region and Africa has great development potential.

Vietnam creates the best conditions for businesses to invest and do business.

Speaking at the Türkiye-Vietnam Business Forum, the Prime Minister said that Vietnam focuses on and wishes to cooperate in the fields of digital economy, green transformation, circular economy, knowledge economy, and sharing economy; taking science, technology, and innovation as new driving forces for development. Vietnam creates the best conditions for large, high-tech, experienced management enterprises, including Turkish enterprises, to invest and do business in Vietnam.

Prime Minister Pham Minh Chinh attends the Türkiye-Vietnam Business Forum. (Source: VNA)

Prime Minister Pham Minh Chinh said that there is still a lot of room for cooperation between Vietnam and Türkiye, but the cooperation mechanism is still limited. Vietnam proposed that Türkiye recognize Vietnam as a full market economy and that the two sides negotiate a free trade agreement... to create more favorable conditions for businesses of the two countries to invest and do business.

Informing the forum about the situation in Vietnam, Prime Minister Pham Chinh said that Vietnam builds the country based on three main pillars: socialist democracy, socialist rule of law state, and socialist-oriented market economy.

Throughout that process, Vietnam takes people as the center, the subject, the goal, the driving force, and the resource for development; maximizes the intelligence, talent, qualities, and ethics of Vietnamese people; does not sacrifice progress, social justice, social security, and the environment in exchange for mere economic growth.

Vietnam pursues an independent, self-reliant, diversified, and multilateral foreign policy; is a good friend, a reliable partner, and a responsible member of the international community; builds an independent, self-reliant economy associated with proactive, active, and deep international integration; implements the "4 No's" defense policy; and builds an advanced culture imbued with national identity.

Vietnam is focusing on three strategic breakthroughs, including a breakthrough in institutional construction and improvement; a breakthrough in infrastructure development, including transport infrastructure; a breakthrough in human resource development and administrative procedure reform. Thereby, there will be an open policy system, a smooth infrastructure system, and smart governance.

"These are the fundamental factors for foreign investors to come to Vietnam to do business stably and effectively in Vietnam," the Prime Minister pointed out.

During the Prime Minister's official visit to Türkiye, the two sides expressed their desire to upgrade the relationship to a new level; create more favorable conditions to promote cooperation in all fields of politics, diplomacy, economics, trade, investment, culture, tourism, people-to-people exchange, etc.; create an environment and ecosystem for businesses of the two countries to cooperate and invest more comprehensively and deeply, maximizing the potential differences, outstanding opportunities, and competitive advantages of each country.

The Prime Minister affirmed that Vietnam will continue to improve the investment and business environment so that enterprises, including Turkish enterprises, can invest and do business effectively in Vietnam. Vietnam always accompanies, shares, and removes difficulties and obstacles to help enterprises develop smoothly; protects the legitimate rights and interests of enterprises, in the spirit of "harmonious benefits and shared risks".

Prime Minister Pham Minh Chinh believes that in the coming time, economic cooperation between the two countries will be raised to new heights and become increasingly effective, with active and proactive contributions from the business communities of the two countries.

"Harmonious benefits, shared risks"

During his official visit to Türkiye, in the capital Ankara, Prime Minister Pham Minh Chinh received leaders of Hayat Holding Group and Turkish Airlines Group of Turkey.

Prime Minister Pham Minh Chinh receives leaders of Hayat Holding Group. (Source: VGP)

At the meetings, the Prime Minister responded to the proposals and recommendations of businesses; affirmed that in the spirit of "harmonious benefits and shared risks", the Vietnamese Government is committed to accompanying and creating favorable conditions for foreign investors, including Turkish corporations, in developing investment and business activities.

At the meeting, the leader of Hayat Holding highly appreciated the investment environment with open procedures and skilled human resources in Vietnam, especially where the group has its factory, Becamex Binh Phuoc Industrial Park. He said that investment activities in Vietnam are one of the most effective activities of the group (in 2023, exports from Vietnam will be about 35 million USD) and will continue to recruit more Vietnamese people to work.

The group's leaders also presented a number of cooperation programs and projects to contribute to social security and made a number of proposals for the group's operations in Vietnam.

Prime Minister Pham Minh Chinh highly appreciated the performance of Hayat Holding in recent times; welcomed the group's investment and construction of a factory in Vietnam; believed that the good development, trust and comprehensive cooperation between Vietnam and Türkiye will be a solid foundation for businesses of the two countries to expand cooperation and the group's operations in Vietnam will become increasingly favorable.

Informing that Vietnam is continuing to improve the transport infrastructure system in Binh Phuoc connecting with the region, the whole country and countries in the region such as Cambodia, thereby creating favorable conditions to expand the product consumption market for Hayat Holding, the Prime Minister suggested that Hayat Holding continue to research investment, cooperate with a number of potential and capable partners in Vietnam to expand and develop its strong fields; act as a bridge to bring potential investors inside and outside Türkiye to invest and do business in Vietnam; strengthen cooperation, move towards technology transfer, helping Vietnamese enterprises participate deeply in the regional and global production chain.

Prime Minister Pham Minh Chinh receives leaders of Turkish Airlines Group. (Source: VGP)

Meeting with the leaders of Turkish Airlines, the Prime Minister highly appreciated the effectiveness of Turkish Airlines' operations, contributing to the development of Türkiye's air transport and tourism industries in recent times.

Emphasizing cooperation to contribute to promoting tourism recovery after the Covid-19 pandemic, the Prime Minister announced Vietnam's new visa policy, saying that Vietnamese and Turkish authorities are discussing the possibility of further facilitating visas for tourists from both countries.

Welcoming the signing of cooperation agreement between Turkish Airlines and Vietnam Airlines on this occasion, the Prime Minister suggested that Turkish Airlines continue to promote cooperation and closely coordinate with Vietnam Airlines and relevant ministries and sectors of Vietnam to promote the image of the two countries and people, thereby encouraging mutual tourism growth.

The group's leaders said they will cooperate with Vietnam Airlines and relevant agencies to increase the frequency of regular flights between the two countries in the coming time, as well as promote tourism development cooperation between the two countries.

Hayat Holding is a multinational economic group with nearly 90 years of establishment, development, and operation in many fields such as consumer goods, furniture, logistics, etc., and is the 5th largest manufacturer of baby diapers in the world. Currently, the group has 41 production facilities and factories located in 17 countries. In Vietnam, Hayat Holding has invested in building factories in Binh Duong and Binh Phuoc provinces. In March 2022, the Hayat Kimya Vietnam Co., Ltd. factory was inaugurated with a total investment of 250 million USD.

Turkish Airlines Turkish Airlines is a long-standing airline in Türkiye. As of the end of 2022, Turkish Airlines' market value is about 10.6 billion USD, ranking among the top 10 most valuable airlines in the world. Turkish Airlines is operating the only direct flight between Vietnam and Türkiye, including two routes: Hanoi - Istanbul and Ho Chi Minh City - Istanbul.

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