Vietnam, Egypt look to beef up trade, investment ties

Vietnamese Ambassador to Egypt Tran Thanh Cong led a delegation to visit Damietta province on November 22-23 with the aim to promote cooperation in terms of economy, trade, investment and culture between Vietnam and Egypt in general and localities of the two countries in particular.
Vietnam, Egypt look to beef up trade, investment ties ảnh 1Vietnamese Ambassador to Egypt Tran Thanh Cong (R) and Governor of Damietta Manal Awad Mikhail (Photo: VNA)

Cairo (VNA) – Vietnamese Ambassador to Egypt Tran Thanh Cong led adelegation to visit Damietta province on November 22-23 with the aim to promotecooperation in terms of economy, trade, investment and culture between Vietnamand Egypt in general and localities of the two countries in particular.

At aworking session with Governor of Damietta Manal Awad Mikhail, Ambassador Congemphasised the long-standing friendship between Vietnam and Egypt,saying that the two countries see many opportunities for economic and trade cooperation.

He suggestedthe Egyptian locality promote cooperation with a locality of Vietnam in fieldswhere the two sides have strengths, saying that the two sides should share informationon potential and investment opportunities between their localities to advancecooperation in priority areas such as electronics, industrial park, logisticsand seaport.

Forher part, Manal expressed her wish that Vietnam as well as its localities will promote cooperation with Damietta in the fields of wooden furniture productionand shipbuilding.

Boastingthe largest wood processing industry in the Middle East, and its strengths in aquacultureand tourism, Dameitta province wishes to partner with localities and businessesof Vietnam, she said.

Thetwo sides jointly affirmed their desire to enhance information sharing andexchange of business delegations after the COVID-19 pandemic is controlled,towards signing cooperation agreements.

In the framework of the visit, a business forum on potential and opportunities forVietnam-Egypt cooperation was also arranged, attracting the participationof representatives from nearly 100 local businesses.

Speakingat the event, Ambassador Cong said two-way trade between Vietnam and Egypt doesnot match their potential, noting that with Vietnam'sopen policy, Egyptian businesses have many opportunities to partner with Vietnamesecompanies.

Participants were updated on investment attraction policies, policies on tax,customs, and incentives for investors, as well as potential and advantages ofVietnam.

Chairman of Damietta’s Chambersof Commerce MohamedEl Ziny expressed a hope that his agency and a corresponding partner inVietnam will sign a  cooperationagreement to connect businesses, exchange information and learn about preferentialpolicies of the two countries, thus promoting bilateral trade and investment cooperation.

Onthe occasion, the Vietnamese diplomat cut a ribbon to inaugurate a “corner of VietnameseBook” at the Damietta’s public library, and presented more than 100 book titleson politics, diplomacy, economy and culture to the library.

The embassy also organised a painting exhibition to introduce Vietnameseculture and people to Egyptians and those in Damietta province inparticular./.

VNA

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