VN, Poland urged to up trade
VN, Poland urged to up trade
Viet Nam and Poland have been urged to promote bilateral trade as their investments were modest and not up to potential.
Speaking at the Poland – Viet Nam Business Forum in Ha Noi yesterday, Polish Deputy Foreign Minister Katarzyna Kacperczyk, accompanied by representatives of 50 businesses, said Polish firms have been in Viet Nam to not just expand trade ties with their local partners but also to seek opportunities to invest in the market of 90 million people.
Polish companies have boasted of strengths in farm produce and food processing and operated effectively in other fields, such as mining and mining equipment, infrastructure development, and pharmaceuticals and medical equipment, she said.
They were also proud of advanced technology, product quality and competitive prices, she said.
Viet Nam has been an interesting investment destination for Polish businesses, she added.
Vietnamese Deputy Minister of Industry and Trade Ho Thi Kim Thoa said the cooperation between Viet Nam and Poland, especially in economics, has developed well but it has yet to match the potential of the two countries and 60 years of traditional friendship.
"In the coming time, the two sides should intensify their economic-trade relations by opening up new opportunities," Thoa said.
She said Viet Nam has focused on shifting its workforce from agriculture to processing industry which has been Poland's strengths. She hoped that Poland would invest in the processing of agricultural products and food as well as sharing their experience in the sector with Viet Nam.
The 60,000-strong Vietnamese community in Poland served as a bridge for developing economic and trade ties between the two countries, she added.
Monika Piatkowska, Vice President, Polish Information and Foreign Investment Agency shared the ideas, adding that Poland and Viet Nam have similar characteristics. Polish businesses have had their presence in Viet Nam in sectors of energy, pharmaceutical, shipbuilding, construction and consultancy.
Polish enterprises wanted to co-operate with Vietnamese firms, she said.
Doan Duy Khuong, Vice Chairman of the Viet Nam Chamber of Commerce and Industry (VCCI), said the two-way trade turnover of the two countries last year was just US$370 milion, a record low level.
Polish companies have invested in 13 projects in Viet Nam with total registered capital of $400 million, taking the 40th place out of 54 countries and territories invested in the country.
"The firms have invested mainly in real estate, processing and telecommunications sectors," Khuong said, adding that the wholly foreign invested projects focused on Viet Nam's northern localities such as Ha Noi and Quang Ninh Province.
Viet Nam has poured $8 million into three projects in food and processing in Poland.
He urged Poland to further enhance its investment into Viet Nam, especially in joint venture projects.
Co-organised by the Embassy of Poland in Ha Noi and VCCI, the event took place during a Viet Nam visit which stretches from June 10 to 14 by Polish Deputy Foreign Minister Katarzyna Kacpercryk.
At the forum, Vietnamese and Polish businesses discussed fields of mutual concern, including finance, insurance, seaports and information technology.
Poland has been the sixth largest economy in the European Union. It has been the only country in EU which was not affected by the economic crisis in 2008.
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