Vietnam-Romania Business Forum. (Source: VNA)

Within the framework of the official visit to Romania, at noon on January 22 (local time) in Bucharest, Romania, Prime Minister Pham Minh Chinh and Romanian Prime Minister Ion Marcel Ciolacu attended the Vietnam-Romania Business Forum.

The forum was organized by the Ministry of Planning and Investment and the Vietnamese Embassy in Romania in coordination with the Romanian Chamber of Commerce and Industry.

At the forum, delegates were introduced to the potential, environment, and investment and business opportunities in Vietnam and Romania; and heard about the capabilities and investment and business plans of enterprises of the two countries.

Enterprises also learn about each country's economic development strategy; priority areas; policy mechanisms; procedures, infrastructure, human resources, etc. Along with that, enterprises from both sides exchange and connect to cooperate in investment and business.

After Romanian Prime Minister Ion Marcel Ciolacu gave his opinion and speech at the forum, Prime Minister Pham Minh Chinh said that over nearly 75 years, the traditional Vietnam-Romania relationship has developed well; built and tested through historical periods, in recent years, the comprehensive friendship and cooperation between Vietnam and Romania has been expanded and deepened in the fields of politics, diplomacy, trade, agriculture, industry, labor, tourism, education and training, etc. In particular, the Prime Minister emphasized that the political trust between the two countries is very high.

Prime Minister Pham Minh Chinh and Romanian Prime Minister Ion Marcel Ciolacu attend the Vietnam-Romania Business Forum. (Source: VNA)

Providing basic information about the situation, fundamental factors, and economic development strategy of Vietnam, Prime Minister Pham Minh Chinh said that Vietnam develops based on three pillars: building a socialist rule-of-law state; building socialist democracy; and developing a socialist-oriented market economy. Building an independent, self-reliant economy associated with proactive, active international integration, comprehensively, practically, and effectively.

Throughout the process, people are taken as the center, subject, driving force, goal and resource of development; not sacrificing fairness, social progress, environment for pure growth. Along with that, focusing on implementing 3 strategic breakthroughs in institutions, human resources and infrastructure. With the goal of open policies, smooth infrastructure and smart governance.

The Prime Minister affirmed: “These are fundamental and favorable factors for businesses to reduce input costs and compliance costs; reduce product prices; increase competitiveness; thereby developing effectively, sustainably and long-term in Vietnam.”

The Prime Minister said that he and the Romanian Prime Minister had just had a very successful meeting and agreed to take measures to promote investment and business cooperation, especially in areas where one side has strengths and the other side has demand; at the same time, they will act as a bridge for each other to enter the regional market.

Prime Minister Pham Minh Chinh speaks at the Vietnam-Romania Business Forum. (Source: VNA)

The Prime Minister said that Vietnam aims to selectively attract investment towards the development of digital economy, green economy, circular economy, knowledge economy; with projects such as high technology, electronics, semiconductors, innovation, renewable energy, new energy (hydrogen), international financial centers, modern trade and services, infrastructure construction, research and development...

The Prime Minister thanked Romania for playing an active role in signing the Vietnam-European Union Free Trade Agreement (EVFTA) and being one of the first EU countries to ratify the Vietnam-European Union Investment Protection Agreement (EVIPA). He suggested that businesses on both sides take advantage of these agreements for cooperation and development.

Along with that, increase exchanges, connections, and investments in areas where Vietnam has demand and Romania has strengths such as mechanics, specialized machinery, medical equipment, pharmaceuticals, telecommunications, automobile manufacturing industry, renewable energy, mining, petrochemical refining, etc.

The Prime Minister pointed out: “Romania’s area is two-thirds of Vietnam’s, but its population is only one-fifth of Vietnam’s, so the two sides can complement each other for mutual development.” The Prime Minister said that the biggest obstacle between the two countries is geographical distance. However, this obstacle can be overcome with good organization of digital transformation, e-commerce and modern means of transport such as aviation, maritime, etc. to connect the two economies.

The Prime Minister affirmed that, in the spirit of “harmonious benefits and shared risks”, the Vietnamese Government always listens, accompanies, supports and creates all favorable conditions for foreign enterprises in general and Romanian enterprises in particular to invest effectively, long-term and sustainably in Vietnam; believes that enterprises of the two countries will cooperate and invest, contributing to realizing high-level agreements, nurturing the traditional friendship between Vietnam and Romania to develop more deeply and effectively, bringing prosperity and happiness to the people of the two countries.