Cairo (VNA) – Vietnamese Ambassador to Egypt Nguyen Nam Duong had a working session with Egypt’s Red Sea Governor Walid Al Barqi on July 11, discussing measures to strengthen economic, trade and investment and logistics cooperation between Vietnamese localities and Red Sea Governorate.
The ambassador said the elevation of Vietnam-Egypt relations to a Comprehensive Partnership in 2025 has created new opportunities for cooperation between their localities. He proposed strengthening links between the Red Sea Governorate and Vietnam's coastal provinces in maritime transport, logistics, trade, tourism and mining.
Duong also encouraged Egyptian businesses to continue implementing contracts to supply phosphate ore to Vietnam, helping diversify the country's sources of materials while contributing to a more balanced bilateral trade relationship.
For his part, Al Barqi highlighted the Red Sea Governorate's strengths as one of Egypt's most dynamic economic centres, with competitive advantages in seaports, tourism, mining, oil and gas, renewable energy, aquaculture and the marine economy.
He noted that the governorate possesses abundant phosphate reserves, with many products undergoing preliminary processing before export. Stressing the governorate's commitment to expanding international partnerships, Al Barqi said local authorities stand ready to facilitate Vietnamese businesses seeking investment and business opportunities, particularly in tourism, mining, logistics and marine economic development.
Earlier, on July 9, Duong and an embassy delegation met with Khaled Abdelgelyl, Chairman of the Red Sea Chamber of Commerce.
Abdelgelyl praised Vietnam's socio-economic achievements and said cooperation in phosphate mining and trade between businesses of the two countries has produced encouraging results. He proposed expanding cooperation into minerals, tourism and logistics to strengthen business connectivity.
Duong stressed that businesses and local chambers of commerce play a central role in translating high-level commitments into practical outcomes. Given the complementary nature of the two economies, he proposed prioritising cooperation in three key areas: securing supply chains and promoting balanced trade, developing the marine economy and high-tech aquaculture, and improving logistics and port connectivity.
Later the same day, Duong and Abdelgelyl co-chaired the Vietnam-Egypt Economic Partnership: Growth and Opportunities forum, which attracted strong interest from businesses in the Red Sea Governorate seeking closer cooperation with Vietnamese partners.
At the event, Vietnam's Trade Counsellor in Egypt, Nguyen Duy Hung, highlighted Vietnam's recent socio-economic achievements and announced that two-way trade between the two countries surpassed 700 million USD for the first time in 2025.
Participants noted that, beyond traditional exports, there remains considerable room to expand bilateral trade. Vietnam has potential to increase exports of tea, rice, frozen shrimp, machinery and electrical equipment, while Egypt could boost shipments of citrus fruits, grapes, fertilisers and, in particular, phosphate ore.
The forum also featured an exhibition showcasing a range of Vietnam's key export products./.
