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| National Assembly Chairman Vuong Dinh Hue received Chairman of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov. (Source: VNA) |
Representatives of Bulgarian organizations and businesses shared about their fields of operation such as business connection; mining; participating in production activities related to the food sector, land exploitation and other industrial production fields.
Biovet JSC specializes in manufacturing veterinary medicines, exporting leading veterinary products to more than 100 countries around the world, including a very good partnership with Vietnam for many years.
After listening to the opinions, sharing information and expressing the desire to connect and be ready to cooperate in investment and business with Vietnamese partners, National Assembly Chairman Vuong Dinh Hue said that one of the key goals of the delegation's official visit to Bulgaria this time is to promote increased economic, trade and investment activities.
The National Assembly Chairman highly appreciated the recent ratification of the Investment Protection Agreement between Vietnam and the European Union (EVIPA) by the Bulgarian National Assembly with an absolute majority of votes.
Emphasizing that this is a step forward, along with the ratification by the parliaments of other European Union countries, National Assembly Chairman Vuong Dinh Hue expressed his hope that EVIPA will soon come into effect and bring benefits to all EU members and Vietnam.
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| National Assembly Chairman Vuong Dinh Hue received leaders of several large corporations and enterprises of Bulgaria. (Source: VNA) |
National Assembly Chairman Vuong Dinh Hue suggested that the Bulgarian Industry Association and Chamber of Commerce and Industry connect with the Vietnam Confederation of Commerce and Industry (VCCI); and assigned the Vietnamese Ambassador to Bulgaria to coordinate with relevant Bulgarian organizations to organize events such as seminars, organize business delegations from both countries to explore each other's markets, attend forums, fairs, exhibitions, etc., to connect businesses and learn about investment and business opportunities between the two countries.
According to the National Assembly Chairman, the trade scale of the two countries is still very small compared to the total trade turnover of Bulgaria as well as Vietnam. Along with increasing trade exchange, EVIPA, when it comes into effect and is implemented, will facilitate businesses of the two countries to invest in each other's markets.
Bulgarian enterprises, when establishing relations with partners and investing in Vietnam, have the opportunity to penetrate the ASEAN market, a market with about 650 million people and the fifth largest economy in the world. Conversely, Vietnamese investors and enterprises that have cooperative relations with Bulgarian enterprises also have the opportunity to cooperate with countries in the EU, especially countries in the Balkan region.
National Assembly Chairman Vuong Dinh Hue said that when meeting with the President and Prime Minister of Bulgaria, the two Bulgarian leaders encouraged businesses of the two countries to form joint ventures to invest in each other's markets or invest in a third country.
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| National Assembly Chairman Vuong Dinh Hue with leaders of several large corporations and enterprises in Bulgaria. (Source: VNA) |
At the meeting, sharing with the representative of Geotechmin Ood Company - a large mining enterprise of Bulgaria, the Chairman of the National Assembly said that the potential for cooperation in this field between the two sides is still very large. Enterprises can invest or transfer technology, and trade in mining equipment in Vietnam.
Regarding Biovet JSC, National Assembly Chairman Vuong Dinh Hue shared that in 2022, the export turnover of the entire agricultural sector of Vietnam will reach over 53 billion USD. In the veterinary field, Vietnam is a large market because the scale of the livestock industry is growing very rapidly.
Along with connecting with the Ministry of Agriculture and Rural Development to have specific areas of cooperation, the company can link with a number of businesses in Vietnam in distributing products, even investing in building factories and producing veterinary medicines, including special medicines for treating tropical diseases in livestock.
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