Promoting Spanish Enterprises to foster Investment in Vietnam

VCCI President Pham Tan Cong met with the Spanish Ambassador to Vietnam, Carmen Cano de Lasala, to expand chances for collaboration between the two countries' business communities, fostering economic, trade, and investment relations between both countries.

Ms. Carmen Cano de Lasala emphasized the Vietnamese economy's recent rapid growth as well as the numerous potentials for future cooperation. In particular, 2024 will mark the 15th anniversary of Vietnam and Spain's adoption of the "Strategic Partnership for the Future" framework (2009-2024). With a solid relationship foundation, the Spanish Ambassador to Vietnam believes that now is a great time to take the collaboration between Vietnam and Spain to a new level that matches their potential.

Spain is one of Vietnam's potential EU partners and was the first to ratify the EVIPA Agreement. As a result, Spanish businesses have long recognized the potential of the Vietnamese market, as well as the diversification of the Vietnamese economy.

Ambassador Carmen Cano de Lasala stated that the Spanish are looking forward to partnering with Vietnam, particularly in infrastructure, renewable energy, tourism, agriculture, high technology, textiles, and the green economy. "These are strong areas of Spanish firms that are eager to collaborate on investment, share experiences, and assist Vietnam in the development of high-speed railroads, energy conversion, and tourism.

Ambassador Carmen Cano de Lasala expects that VCCI will enhance its exchanges with the Spanish Embassy in Vietnam in order to present investment possibilities for Spanish firms.

In agreement with the Spanish Ambassador, the VCCI President stated that bilateral trade-investment cooperation has improved, particularly since the Vietnam-EU Free Trade Agreement (EVFTA) entered into force.

He added that Vietnam has concentrated on attracting investment in areas such as agriculture, high technology, the green economy, and energy transformation. With its advantages, the Spanish can maximize their prospective commercial investment partnerships in Vietnam.

Spain is now Vietnam's eighth-biggest trade partner in the EU, whereas Vietnam is Spain's top trading partner in ASEAN. Through cooperation among the two nations' business communities, Vietnamese firms may get greater access to the EU market, while Spanish companies can introduce their products to the ASEAN market.

To expand the multifaceted partnership between the two nations in the future, the VCCI President urged that both countries boost the exchange of market information as well as possible prospects for the two business communities to improve mutual understanding.