Việt Nam welcomes Turkish investment and cooperation: PM

Prime Minister Phạm Minh Chính addresses businesses from Việt Nam and Türkiye in Ankara on November 30. VNA/VNS Photo Dương Giang

HÀ NỘI Prime Minister Phạm Minh Chính attended the Türkiye-Việt Nam Business Forum during his official visit to the Republic of Türkiye yesterday.

The event, held in the capital city of Ankara, was organised by the Vietnamese Ministry of Planning and Investment, the Vietnamese Embassy to Türkiye, and the Foreign Economic Relations Board of Türkiye.

Notable attendees included leaders from various ministries, sectors, agencies, localities and nearly 200 business leaders from both Việt Nam and Türkiye.

The forum showcased the positive trajectory of trade and investment cooperation between the two nations, with major Turkish enterprises actively participating in the Southeast Asian economy’s infrastructure projects as bilateral trade hit US$2.4 billion in 2022. Türkiye currently stands as the largest direct investor from the Middle East in Việt Nam, with registered capital nearing $1 billion.

During the forum, business from Việt Nam and Türkiye presented their potential and outlined areas of collaboration in investment and business, insights into successful experiences in collaboration and investment. The event also saw the signing of several cooperation agreements.

Turkish leaders and business leaders expressed their eagerness to collaborate with Việt Nam, including transportation infrastructure, household goods manufacturing, science and technology, finance, aviation, logistics, renewable energy, pharmaceuticals, agriculture, and the Halal industry. Türkiye aims to strategically enter the Southeast Asian market, viewing Việt Nam as a gateway to the broader ASEAN.

In his address, Prime Minister Chính extended congratulations to Türkiye for its impressive development, securing a position among the world’s top 20 economies. He highlighted Việt Nam’s foundation based on a socialist-oriented market economy, a socialist rule-of-law state, and a socially-oriented market economy, emphasising the focus on human well-being in the development process.

Việt Nam’s foreign policy, characterised by independence and diversification, positions the country as a reliable partner and responsible member of the international community. Prime Minister Chính emphasised ongoing efforts to create a strong and independent economy, deeply integrated into the global community and a culturally rich national identity.

The focus is on three strategic breakthroughs: institutional development, infrastructure development, and human resource development through administrative reforms and Việt Nam’s commitment to creating a favourable environment for foreign investors. The Prime Minister expressed Việt Nam’s interest in collaborating with Türkiye in the digital economy, green transformation, circular economy, knowledge economy, and sharing economy.

While recognising the significant potential for cooperation between Việt Nam and Türkiye, Prime Minister Chính highlighted the limitations of existing cooperation mechanisms. He proposed that Türkiye recognise Việt Nam as a full-market economy, paving the way for negotiations on a Free Trade Agreement to facilitate smoother business operations for both countries.

The Vietnamese Prime Minister assured continued improvements in the investment and business environment, emphasising Việt Nam’s strong commitment to supporting businesses, including those from Türkiye, and resolving challenges in a spirit of “harmonious benefits, shared risks.”

On the same morning, the Vietnamese leader held a meeting with the Chairman of the Board of Directors of IC Holdings and the leadership of IC Holdings Group from Türkiye. IC Holdings, a leading conglomerate primarily in the construction sector, operates globally, including in Việt Nam, where it is part of the Vietur consortium working on the Long Thành International Airport project. The group expressed appreciation for the investment and business environment in Việt Nam, with discussions focusing on the effective implementation of the airport project and potential opportunities for further cooperation in infrastructure, energy, healthcare, and more. VNS