Spanish firms show more interest in VN
HO CHI MINH CITY - More Spanish companies are turning their eyes on Vietnam as the country is opening its door to global investors and offering a lot of business opportunities, the Spanish Economic and Commercial Office in HCMC said.
The Office’s chief trade officer Felix Requejo, proving the increasing interest of Spanish companies in Vietnam, said a delegation grouping members of the Spanish Federation of Manufacturers and Exporters of Decorative Lighting would come to HCMC next week.
He told the Daily yesterday that the twelfth Spanish trade mission to Vietnam so far this year would start their two-day visit in the city on Monday to identify perspectives and trends in the decorative lighting sector.
Meetings with Vietnamese distributors as well as architects and interior designers have been scheduled by the members of the federation, which groups around 100 companies operating in the sector.
Spain is now the world’s eighth largest exporter of lighting fixtures and its total sales in this sector reached US$494 million last year.
Around 15 Spanish delegations are expected to sound out business opportunities in Vietnam in 2006. Earlier next year, the mayor of Barcelona City will lead a trade contingent to visit Vietnam.
Spanish investment in and trade with Vietnam remain modest as only five companies of the European country have invested a combined US$7 million in chemical, leather product, ceramics and shipbuilding projects in Vietnam.
Two-way trade between the two countries is forecast to rise 20% year-on-year to US$915 million this year. Of this year’s figure, Spain exports US$150-170 million worth of building materials, machinery among others.
Spanish Ambassador to Vietnam Soledad Fuentes Gomez said earlier that the bilateral trade growth had been substantial but still remained below the potential of the two countries.
By Mong Binh - The saigon Times Daily - October 27, 2006.
Spanish businesses wish to expand co-operation with Vietnam
Spanish entrepreneurs wished to boost co-operation with Vietnamese partners in a wide range of sectors, including tourism, livestock breeding, and equipment and cattle-feed production, at a forum in Hanoi on October 23.
Addressing the forum, the President of the Chamber of Commerce and Industry from the Segovia region, Jesus Postigo Quintana, said that the recent years have witnessed a considerable increase in the number of Spanish businesses interested in Vietnam, as well as of commercial activities between the two countries.
The positive result, he said, was attributable to Vietnam's high and stable economic growth alongside its bid to join the World Trade Organisation (WTO).
Particularly, the official added, Vietnam has spared no effort in improving its investment environment, thereby creating favourable conditions to promote the economic and commercial co-operation between the two countries in the coming years.
At the forum, Vietnamese businesses expressed their wish to co-operate with their Spanish partners in technical consultancy, electronics, coffee and seafood.
The two-way trade revenue between Spain and Vietnam is estimated to increase 20 percent to US $915 million in 2006. Vietnamese staples exported to Spain include footwear, garments and textiles, furniture, seafood and coffee. Meanwhile, Vietnam-bound exports of Spain include machinery and construction materials.
This year has seen 9 Spanish business delegations visit Vietnam in order to open their representatives offices, according to the Spanish Embassy in Vietnam.
Vietn News Agency - October 24, 2006.
|