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Wednesday, November 14 2018
Tiếng Việt
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Date 26/10/2018-10:57:00 AM
The good traditional political relationship is a solid foundation for boosting commerce and investment between Vietnam and Romania
(MPI) - On October 23rd, 2018, at the headquarter of the Ministry of Planning and Investment, Minister Nguyen Chi Dung held a meeting with Romanian Minister of Business Environment, Commerce and Entrepreneurship (MMACA) Stefan- Radu Oprea.
Minister Nguyen Chi Dung speaking at the meeting. Photo: MPI

Speaking at the meeting, Minister Nguyen Chi Dung welcomed and highly appreciated the Minister and his delegation visiting and working in Vietnam. Vietnam values and wishes to comprehensively develop the relationship with Romania, especially in the context of the upcoming signing of the Vietnam - EU Free Trade Agreement (EVFTA). Assessing that the investment cooperation relationship between the two countries has not yet commensurate with the good tradition of friendship and potential, Minister Nguyen Chi Dung expects the visit of Minister Stefan-Radu Oprea will create a new driving force for the development cooperation between the two countries, promote business development, bilateral investment, trade and tourism relations.

Delivering a strong message on building a cooperation relationship between the two ministries in the coming time, Minister Stefan-Radu Oprea emphasized the important role of cooperation in investment promotion and business development in the just signed Memorandum of Understanding (MoU) on Investment Promotion and MoU on Small and Medium-size Enterprise Development. Minister Stefan-Radu Oprea is delighted to hear that the Government’s leaders of Vietnam will visit Romania in 2019 and said that on this opportunity, Romania wishes to organize a Bilateral Joint Committee meeting. To prepare for the meeting, the two sides need to have specific projects to enhance cooperation in the fields of agricultural products, tourism, industry 4.0, etc.

Minister Stefan-Radu Oprea speaking at the meeting. Photo: MPI

Believing that the good traditional relationship will balance the trade and investment balance between the two countries, Minister Stefan-Radu Oprea said, to attract investment, Romania had developed a PPP Law to bring convenience to the investment, with 31 projects calling for investment in the development of highways, seaports, hospitals, etc.

Agreeing and highly appreciating Minister Stefan-Radu Oprea’s view of the bilateral relationship between two countries, Minister Nguyen Chi Dung said in terms of investment cooperation, Vietnam is not only attracting investment but also investing abroad, and the fact that Romania is recently developing at high speed is a good premise for the two countries to cooperate. Regarding investment, Vietnam is interested in Romania’s strong fields such as agriculture and tourism, especially, the problem of supporting SMEs enterprises is a good orientation, help enterprises to rise and have the potential to cooperate, Minister Nguyen Chi Dung emphasized.

The Signing Ceremony. Photo: MPI

At the meeting, Minister Nguyen Chi Dung and Minister Stefan-Radu Oprea signed a MoU on Investment Promotion and MoU on Small and Medium-size Enterprise Development./.

According to the Ministry of Planning and Investment’s data, regarding the investment cooperation relationship between the two countries, until September 20th, 2018, Romania ranked 91th out of 129 countries and territories having direct investments in Vietnam with 02 valid projects, the total registered capital of 1.2 million USD. Vietnam has not had any investment project in Romania.

In terms of bilateral trade relationship, in 2017, Vietnam's export to Romania reached 120 million USD, up 24% as compared to 2016. The main export goods include machinery, equipment, instruments and other accessories, coffee, seafood. Vietnam's import from Romania reached 86 million USD, down 49%. In the first nine months of 2018, Vietnam's export to Romania gained 106 million USD, up 26% as compared to the same period in 2017. Vietnam's import from Romania reached 59 million USD, down 12%.

Hien Nguyen
Ministry of Planning and Investment

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