site.btaDeputy Economy Minister Pavlov Opens Bulgaria-Vietnam Business Forum

Opening a Bulgaria-Vietnam business forum on policies and laws to promote economic, trade and investment cooperation here on Tuesday, Deputy Economy and Industry Minister Nikolay Pavlov said Bulgaria is ready to support Vietnamese businesses planning to invest in sectors in which this country has an advantage and sectors which account for high added value and increased competitiveness of the economy, the Economy Ministry said. Vietnam's National Assembly Chairman Vuong Dinh Hue also addressed those gathered.

Pavlov stressed the event is intended to strengthen dialogue and step up trade and economic relations between the two countries. He called on the companies to take full advantage of the forum and discuss joint activities in trade and high technology, noting that Vietnam is an important and promising trading, economic and investment partner of the EU. In his words, two-way trade with Vietnam totalled USD 73.51 million in the first five months of 2023, with Bulgarian exports worth USD 16.05 million and imports of about USD 70 million.

Pavlov briefed the participants on the implementation of measures and incentives to support and encourage investment. As an EU Member State, Bulgaria provides unimpeded duty-free access to the EU market of 500 million consumers. "We have the potential to attract Vietnamese investments and offer favourable opportunities for activities in the automotive industry, information and communication technology, electronics and electrical engineering, the transition to a green economy and medicine, among others. We count on your cooperation and let's continue to make concerted efforts to increase interest in Bulgaria as an investment destination," Pavlov said in conclusion.