Vietnamese investors have facilities in strategic projects on the Romanian market
By Edwig Ban
The Vietnamese investors can benefit from a series of measures that regulate the public-private partnership regime and the facilities offered by the Romanian Government for involvement in selected strategic projects, said Minister for the Business, Trade and Entrepreneurship Environment, Ştefan Radu Oprea, in during an official visit to the Socialist Republic of Vietnam.
According to a press release of the ministry, Ştefan Radu Oprea promotes Romania as a profitable business destination during an official visit to the Socialist Republic of Vietnam from 22 to 23 October 2018, at the invitation of his counterpart, Tran Tuan Anh, Trade in this country.
Minister Oprea met with Tran Tuan Anh, his deputy, co-chairman of the intergovernmental intergovernmental economic co-operation committee, Hoang Quoc Vuong, and Vietnamese Chamber of Commerce and Industry vice-president, Doan Duy Khuong.
A conclusion of the bilateral talks was that there is a need for pragmatic actions to increase the volume of trade and attract investment in the two economies in areas of common interest.
"We give foreign entrepreneurs all the information they need to identify investment projects in Romania. I invite Vietnamese companies interested in the Romanian business market to contact InvestRomania's specialized departments that will accompany them throughout the implementation of the investment. Also, Vietnamese investors can benefit from a series of measures that regulate the public-private partnership regime and the facilities offered by the Romanian Government for involvement in the selected strategic projects, "said Minister Radu Oprea.
One of the important topics on the agenda was to organize, as soon as possible, the next session of the Romanian-Vietnamese Intergovernmental Intergovernmental Commission, to be held in Bucharest in the first part of 2019.
'The Joint Commissions' work is an opportunity for the Vietnamese business community to develop trade relations and identify new cooperation projects with Romania. Achieving a volume of bilateral trade of $ 500 million is a feasible goal, "said Tran Tuan Anh, Minister of Industry and Trade of the Viet Nam Socialist Republic.
During the talks, Vietnamese officials insisted on the importance the Government of Hanoi attaches to holding the Romanian Presidency of the EU Council, particularly through the finalization of the EU-Vietnam Free Trade Agreement.
In this context, the Romanian Minister stressed that "it is necessary to involve the Vietnamese authorities in the implementation of this agreement in its spirit of liberalization of trade".
"Today's talks have touched other areas of cooperation, such as tourism, the continuation of the Romanian Government's grant for scholarships for Vietnamese students in the next period as well as the exchange of skilled labor," reads a press release.
The Romanian official also attended the Business Forum held on the margins of the visit, which included more than 70 Vietnamese businessmen, many of them with higher education completed in Romania.
In the Vietnamese-Vietnamese collaboration, priority areas of Vietnam are areas such as energy, oil and gas, new competitive areas, especially in Industry 4.0, robotics and IT.
For the Romanian part, the growth of exports is a priority, highlighting the competitiveness of domestic products in areas such as: equipment and spare parts for the petroleum, gas and petrochemical industry, power equipment and components, equipment and spare parts for metallurgy, equipment and know-how in mining, various machine tools, steel products (including pipes for the petroleum and natural gas industry), electrical and electronic equipment, automotive components, building materials, furniture, food products, etc.
On 31.08.2018 bilateral trade volume amounted to $ 145.66 million, of which $ 34.57 million of Romanian exports and $ 113.19 million of Romanian imports.
According to ONRC data, on September 30, 2018, the number of companies with Romanian-Vietnamese mixed capital in Romania amounted to 952, with a share capital of 4.96 million dollars.
The share in the total number of companies with foreign investment in Romania is 0.41%.
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