Egyptian President Abdel Fattah el-Sisi speaks at the Vietnam-Egypt Business Forum (Photo: VNA)

Hanoi (VNA)
– The Vietnam-Egypt Business Forum was held in Hanoi on September 7, serving as a platform for enterprises from both countries to explore business and investment cooperation opportunities.

The event was jointly organised by the Vietnam Chamber of Commerce and Industry (VCCI) and the Federation of Egyptian Chambers of Commerce (FEDCOC).

[Vietnam, Egypt seal cooperation agreements]

Addressing the forum, Deputy Prime Minister and Foreign Minister Pham Binh Minh said when investing in Vietnam, Egyptian companies will have a chance to get access to the Vietnamese market with a population of 93 million and the ASEAN market of more than 600 million consumers.

There are plenty of potentials for bilateral trade and economic cooperation, especially in the fields of manufacturing, processing, garment-textiles, footwear, and oil and gas, he said, adding that Vietnam hopes Egypt will serve as a bridge to connect the Southeast Asian country with other nations in Africa.

The Vietnamese Government will accompany and create favourable conditions and an open investment environment for Vietnamese and Egyptian businesses, Minh stressed.

The Deputy PM also asked the VCCI to actively coordinate with the FEDCOC to facilitate business operations and connectivity of Vietnamese and Egyptian enterprises.

Egyptian President Abdel Fattah el-Sisi said Egypt wants to become a strategic centre, thus developing logistics and building industrial parks to export products to other nations, as well as implementing projects on land development, renewable energy, and building new administrative urban areas.

Egypt welcomes Vietnamese businesses to invest in developing small-and medium-sized enterprises, shipbuilding, construction, aquaculture, fertilizer, and garment-textiles, he added.

Egypt is now the third biggest trade partner of Vietnam in Africa with two-way trade reaching an annual average level of 320 million USD. 

VCCI Chairman Vu Tien Loc said the VCCI will continue coordinating with the FEDCOC to increase the bilateral trade value to 1 billion USD in the future set by the two governments.-VNA