Ample room for Vietnam-Bulgaria economic, trade cooperation

This was highlighted by participants at the Vietnam-Bulgaria Business Forum, jointly organised by the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) and the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) on November 27 in the southern metropolis.

Speaking at the forum, Vo Van Hoan, Vice Chairman of the Ho Chi Minh City People's Committee, highlighted the longstanding friendship between Vietnam and Bulgaria which was built on mutual trust and mutual support over the past 70 years. He described Bulgaria as not only a reliable partner but also a close friend that has supported Vietnam's economic and social development journey.

Hoan noted that HCM City with a population of over 10 million and a young, dynamic workforce is an attractive destination for foreign investors. The city seeks cooperation with Bulgarian partners in areas that Bulgaria excels, such as information technology, organic agriculture, pharmaceuticals, and renewable energy.

As Vietnam's largest hub for innovation and entrepreneurship, HCM City is home to thousands of startups focused on technology and smart solutions. Moreover, the city has been designated by the government as the site for the country's future international financial centre, presenting significant opportunities for Bulgarian businesses to invest and collaborate in these advanced sectors, Hoan added.

"The Vietnam-Bulgaria Business Forum serves as a platform for businesses from both countries to meet, exchange information, and explore potential partnerships," Hoan said. He affirmed the city’s commitment to creating favourable conditions for Bulgarian businesses to invest and operate effectively in the southern metropolis.

Bulgarian President Rumen Radev expressed his admiration for Vietnam’s achievements in socio-economic development, industrialisation, and modernisation, particularly the vibrant growth of the southern city.

Radev highlighted Bulgaria’s strategic location as a crossroads between Asia and Europe, serving as a gateway for Asian goods to enter the EU market. Similarly, Ho Chi Minh City’s role as a gateway and commercial hub enables Vietnam to connect with regional and global markets. This alignment creates considerable potential for cooperation in freight transport between the two countries, he said.

The Bulgarian President emphasised his country’s strengths in information technology, automation, and pharmaceuticals. Bulgaria can support Vietnam in agricultural product processing and food security projects, he said./.