VN pledges favorable conditions for Egyptian businesses: Deputy PM
09:06 | 08/09/2017

VGP – Deputy PM and FM Pham Binh Minh has affirmed that the Vietnamese Government always creates favorable conditions and ensures a better and opener business climate for foreign investors, including those from Egypt.

Photo: VGP/Nhat Bac

Politburo member Minh made the statement at the Viet Nam-Egypt Business Forum 2017 in Ha Noi on September 7, which was also attended by visiting Egyptian President Abdel Fattah al-Sisi.

The event was co-organized by the Viet Nam Chamber of Commerce and Industry (VCCI), the Federation of Egyptian Chambers of Commerce and the Egyptian Embassy in Viet Nam, in an attempt to realize the goal of bringing two-way trade to US$1 billion in the time ahead.

In his speech, Deputy PM Minh stressed that during their talks on September 6, President Tran Dai Quang and President Abdel Fattah al-Sisi agreed to set out the development vision and direction for the bilateral relations, with economic cooperation as a focus.

On that basis, Minh stated that the business communities in Viet Nam and Egypt would be the pioneering forces in further deepening economic ties between the two countries.

He pointed out the huge potential and opportunities in Viet Nam-Egypt relations that the business communities need to grasp and take advantage of, particularly the opportunities for Egyptian companies to do business in Viet Nam.

Accordingly, investing in Viet Nam, Egyptian enterprises will have the chance to access a market of over 93 million people, with 60% aged under 35 on average and having increasing income over time.

Furthermore, Viet Nam is an attractive destination with strong reform efforts made to strengthen competitiveness and improve the investment environment, Minh added.

Viet Nam’s business climate index in 2017 leapt up nine places compared to 2016, as released by the World Bank. Meanwhile, the World Economic Forum ranked Viet Nam 60th out of 138 countries in terms of competitiveness in 2017. According to the EuroCham Whitebook 2017, 76% of the European businesses operating in Viet Nam are optimistic about the business outlook in the country.

Deputy PM Minh expressed his belief that with the interest of the two Governments, the support from relevant agencies and the efforts made by the business communities, the Viet Nam-Egypt relations would develop comprehensively and solidly in the time ahead.

                                                                                                                            By Vien Nhu

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