Vietnam, Egypt look to beef up trade, investment ties

Vietnamese 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 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.

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

He suggested the Egyptian locality promote cooperation with a locality of Vietnam in fields where the two sides have strengths, saying that the two sides should share information on potential and investment opportunities between their localities to advance cooperation in priority areas such as electronics, industrial park, logistics and seaport.

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

Boasting the largest wood processing industry in the Middle East, and its strengths in aquaculture and tourism, Dameitta province wishes to partner with localities and businesses of Vietnam, she said.

The two sides jointly affirmed their desire to enhance information sharing and exchange 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 for Vietnam-Egypt cooperation was also arranged, attracting the participation of representatives from nearly 100 local businesses.

Speaking at the event, Ambassador Cong said two-way trade between Vietnam and Egypt does not match their potential, noting that with Vietnam's open policy, Egyptian businesses have many opportunities to partner with Vietnamese companies.

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

Chairman of Damietta’s Chambers of Commerce Mohamed El Ziny expressed a hope that his agency and a corresponding partner in Vietnam will sign a  cooperation agreement to connect businesses, exchange information and learn about preferential policies of the two countries, thus promoting bilateral trade and investment cooperation.

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

The embassy also organised a painting exhibition to introduce Vietnamese culture and people to Egyptians and those in Damietta province in particular./.