The event was attended by representatives of the Vietnam Chamber of Commerce and Industry (VCCI) and big enterprises in such industries as textile-garment, jewellery, and information technology.

The PM, who is on an official visit to Vietnam, said the investment climate in his country is improving in a way that facilitates businesses’ development, and there are almost no barriers to foreign investment attraction there.

Armenian Prime Minister Nikol Pashinyan (centre) speaks at the working session with Vietnamese businesses in Hanoi on July 6.

Armenia is investing big in developing information and digital technology. It has also exported a number of high-tech products in the agricultural and processing sectors, which are also the fields the country wants to seek opportunities for investment cooperation, he noted.

PM Pashinyan said his country is looking for chances for investment and trade partnerships in certain aspects, including textile-garment, agricultural products, food, alcoholic beverages and dried fruit export, in which both countries have advantages and potential.

Armenia has signed free trade agreements with some countries and territories. It is also a member of the Eurasian Economic Union and has made commitments with some other European countries in the provision of tariff incentives, he added.

At the session, VCCI Chairman Vu Tien Loc voiced his belief that there remains much potential for the two countries’ economic relations.

He said Vietnam has demand for many commodities of Armenia’s strength like machinery, equipment and textile-garment materials. Meanwhile, it can also step up the export of aquatic products, farm produce, electronic devices and apparel to the European nation.

Echoing the view, Chairman of the Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang said there are numerous cooperation opportunities for Vietnamese textile-garment businesses and Armenian firms.

He elaborated that VITAS imports a large volume of cotton, over 1.5 million tonnes each year, from foreign suppliers while Armenia holds potential for producing this commodity. Therefore, this is an area in which the two countries can work together in the future.

PM Pashinyan also showed his interest in Vietnamese coffee products, noting that these might be potential products and if any Vietnamese companies wish, they could be assisted to develop their market in Armenia.

Also on July 6, the visiting leader had a meeting with representatives of the Vietnam-Armenia Friendship Association and Vietnamese people who once studied and worked in his country.

Vietnam, EU sign free trade, investment protection agreements

The EU – Vietnam Free Trade Agreement (EVFTA) and the EU – Vietnam Investment Protection Agreement (EVIPA) were officially signed in Hanoi on June 30 afternoon, in the witness of Prime Minister Nguyen Xuan Phuc, Vietnamese National Assembly and Government leaders, and leaders of the European Union (EU).

German firms intend to expand investment in Vietnam

Fifty-five percent of German businesses, when asked, have said they want to increase investment capital in Vietnam, higher than the rate for Southeast Asia (44 percent), according to a survey conducted by the German Industry and Commerce Vietnam (GIC) in April.

Vietnam facilitates Korean investments

The Vietnamese Government will work to remove bottlenecks and create the best conditions for enterprises from the Republic of Korea to operate in Vietnam, Deputy Prime Minister Vuong Dinh Hue stressed on June 19.

Philippine company eyes investment in Vietnam’s tea industry

JG Summit Holdings, Inc., one of the biggest Filipino investors in Vietnam, hopes to invest in sustainably developing tea business in the country, particularly via the participation in public-private-partnership projects.

Bac Giang: 86 investment projects licensed and adjusted in first 6 months

(BGO) – As of June 17, 2019, Bac Giang province licensed and adjusted 86 investment projects, accounting for 72 percent with total capital of 542 milion USD, up 73.8 percent comparing to the same period last year.

Source: VNA