Argentine businesses attending a seminar on market development potential in Vietnam exchanged with the Vietnamese Trade Representative about the possibility of expanding investment between the two countries in the future.
August 14th, the East Asian Chamber of Commerce The Pacific Argentina's Ministry of Foreign Affairs held a seminar on the potential development of investment and trade markets in Vietnam, with the participation of many Argentine businesses.
According to Xinhua correspondent in Buenos Aires, opening remarks at the conference, Asian Chamber of Commerce President Rallys Pliauzer reviewed after more than 50 years establishing relations and diplomacy, the relationship between Argentina and Vietnam is developing steadily in all fields, especially in trade exchanges, while affirming that the potential for cooperation between the two countries is huge.
Ambassador Mario Schuff, a senior adviser to the Asia-Pacific Chamber of Commerce, praised Vietnam's economic achievements in recent years as well as efforts by businesses from both countries to boost trade exchanges, which reached more than $3. 5 billion last year.
Speaking at the seminar, Vietnamese Ambassador to Argentina Ngo Minh Nguyet presented the economic and social achievements of Vietnam in recent decades, especially in 2023, Vietnam's economy ranked 34th in the world, with a growth rate of 5. 05%, and the first half of this year is estimated at 6. 42% after reaching 5. 66% in Q1.
According to the International Monetary Fund (IMF), in 2023, Vietnam ranks 3rd in Southeast Asia with a GDP by purchasing power parity (GDP PPP) of about US$1. 438 billion, behind Indonesia ($4. 391 billion), and Thailand ($1. 563 billion), ranked 25th globally.
By 2026, Vietnam's PPP GDP is expected to reach about US$1. 833 billion, surpassing Thailand and ranking second in Southeast Asia after Indonesia.
Ambassador Ngô Minh Nguyet also said that in the first six months of 2024, import-export turnover reached $368. 53 billion, an increase of 15. 7% compared to the same period last year, with exports exceeding $190 billion, up 14. 5%, thanks to the recovery of world demand, especially in Vietnam's major partners such as the US, EU and ASEAN.
Vietnam continues to be a preferred destination for foreign investors. In the first six months of the year, total FDI registered in Vietnam reached about USD 15. 2 billion, an increase of 13. 1% over the same period, and disbursement of FDI capital reached USD 10. 84 billion, up 8. 2%, which is the highest growth compared to the same period in 6 years.
Ambassador Ngô Minh Nguyet affirmed this result as proof that investors believe in Vietnam's opportunities and growth prospects thanks to the shift of global supply chains.
Ambassador Ngô Minh Nguyet affirmed that the Government of Vietnam continues its efforts to complete institutions, remove difficulties and obstacles, prioritize promoting economic growth and is ready to open doors for welcoming foreign businesses.
Businesses attending the seminar also exchanged with Vietnamese Trade Representative in Argentina on the possibility of expanding trade and investment between the two countries in the future.
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