Vietnam remains potential market for Argentine businesses

President of the Argentine Chamber of Commerce for Asia and the Pacific (ACCAP) Rallys Pliauzer has highlighted the continuous development of relations between Argentina and Vietnam in all areas, particularly in trade, affirming that the potential for cooperation between the two countries still remains great.
The two-way trade between Vietnam and Argentina exceeds 3.5 billion USD in 2023r. - Illustrative image (Photo: VNA)

The two-way trade between Vietnam and Argentina exceeds 3.5 billion USD in 2023r. - Illustrative image (Photo: VNA)

President of the Argentine Chamber of Commerce for Asia and the Pacific (ACCAP) Rallys Pliauzer has highlighted the continuous development of relations between Argentina and Vietnam in all areas, particularly in trade, affirming that the potential for cooperation between the two countries still remains great.

Pliauzer made the affirmation at a seminar on the potential for developing investment and trade markets in Vietnam, which was hosted by his agency on August 14.

Meanwhile, Ambassador Mario Schuff, Senior Advisor of the ACCAP, praised economic achievements that Vietnam has made over the recent years, as well as efforts of businesses from both countries to promote trade ties, with two-way trade exceeding 3.5 billion USD last year. He said that Argentine businesses are very interested in Vietnam's trade and investment market.

In her remarks, Vietnamese Ambassador to Argentina Ngo Minh Nguyet updated participants on Vietnam's socio-economic achievements in recent decades, especially in 2023 as Vietnam’s economy ranked 34th worldwide with a GDP growth of 5.05%.

In the first half of this year, Vietnam’s GDP expanded by an estimated 42% after achieving 5.66% in the first quarter, she said.

According to the diplomat, Vietnam remains a preferred destination for foreign investors. In the first half of this year, about 15.2 billion USD in foreign direct investment (FDI) was poured into Vietnam, up 13.1% compared to the same period last year. The FDI disbursement totaled 10.84 billion USD, up 8.2%, the highest year-on-year growth in six years.

This result shows that investors trust in opportunities in Vietnam and the country’s growth prospects which are driven by the global supply chain shift, Nguyet stated.

Vietnam is willing to open its doors to foreign businesses, she affirmed, adding that the Vietnamese Government will continue to make efforts in perfecting the institutional framework and addressing difficulties and obstacles to promote economic growth.

Delegates also discussed with representatives from the Vietnam Trade Office in Argentina the potential for expanding trade and investment exchanges between the two countries in the future.

According to the International Monetary Fund (IMF), in 2023, Vietnam ranked 3rd in Southeast Asia and 25th in the world with its GDP at purchasing power parity (GDP PPP) of nearly 1.44 trillion USD. The Southeast Asian nation's GDP PPP is projected to top 1.83 trillion USD, surpassing Thailand and ranking 2nd in Southeast Asia, after Indonesia.

The country’s total import-export turnover hit over 368.5 billion USD in the first six months of 2024, up 15.7% year-on-year, with exports exceeding 190 billion USD, up 14.5%, thanks to the recovery in global demand, particularly from Vietnam's major partners such as the US, the EU, and ASEAN. It enjoyed a trade surplus of 11.63 billion USD, contributing to stabilising the foreign currency exchange rate and increasing the foreign currency reserves./.

Source: VNA
en.vietnamplus.vn

Related News

Latest News

Vietnam

Vietnam's coconut exports to rise remarkably thanks to shipments to China

Fresh coconuts, a burgeoning contributor to Vietnam's agricultural exports, are poised to make a substantial impact on the nation's economy through increased shipments to China, according to officials.
Wood industry witnesses positive market signals

Wood industry witnesses positive market signals

The final months of the year are when consumers typically renovate and redecorate their homes in preparation for the New Year, providing a significant boost in export orders for the wood industry.
Vietnam’s aquatic product exports reel in positive forecasts to year end

Vietnam’s aquatic product exports reel in positive forecasts to year end

Vietnam's aquatic product exports are on track to hit a target of 9.5 billion USD by the end of this year, buoyed by sustained positive growth in recent months, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam-Sweden Business Forum 2024 opens

Vietnam-Sweden Business Forum 2024 opens

The Vietnam-Sweden Business Forum 2024 was held in celebration of 55 years of bilateral diplomatic relations by the Vietnamese Embassy and the Vietnam Trade Office in Sweden, and FPT Corporation in Stockholm on September 6.

More News

Industrial real estate - "Magnet" attracting foreign capital

Industrial real estate - "Magnet" attracting foreign capital

VCN - Looking back at the development journey over the past 30 years, it can be affirmed that the model of industrial parks and economic zones has been playing an important role, as a driving force for growth and the process of industrialization and modernization of the country; a channel to attract investment resources, especially foreign direct investment (FDI), contributing to improving the business environment and enhancing competitiveness, ensuring sustainable development.
New markets help fruit exports grow to record revenues

New markets help fruit exports grow to record revenues

Vietnam's fruit export revenue hit 4.63 billion USD in the first eight months of 2024, representing an increase of 30.6% compared to the same period last year, thanks to the opening of several key markets.
Export-import through Mong Cai int’l border gate grows 24%

Export-import through Mong Cai int’l border gate grows 24%

The total export-import turnover through the Mong Cai International Border Gate in the northern province of Quang Ninh in the first eight months of 2024 reached 2.64 million USD, marking a 24% increase year-over-year, while 265 new businesses began operation in the area.
Seafood enterprises shift business and export

Seafood enterprises shift business and export

VCN - Facing difficulties and challenges caused by the global economic downturn, many seafood businesses have promptly adjusted their production, business and export strategies.
Centre of raw materials for textiles and footwear expected to be launched in 2025

Centre of raw materials for textiles and footwear expected to be launched in 2025

The Ministry of Trade on Thursday discussed a proposal to develop a centre to create, store and trade raw materials for textile and leather footwear production.
Binh Duong’s export revenue rises 11.3%

Binh Duong’s export revenue rises 11.3%

Binh Duong province, a key industrial hub in southern Vietnam, shipped 22.5 billion USD worth of products abroad in January-August, a year-on-year increase of 11.3%.
Vietnamese vegetables, fruits promoted at Asia Fruit Logistica

Vietnamese vegetables, fruits promoted at Asia Fruit Logistica

Nineteen Vietnamese enterprises are attending Asia’s premier fresh fruit and vegetable trade show - Asia Fruit Logistica, which is underway in Hong Kong (China) from September 4-6.
The key to opening new doors for agricultural enterprises

The key to opening new doors for agricultural enterprises

VCN - Sustainable development is the future of agricultural enterprises. Enterprises that have made early changes to this trend are receiving positive support from international investment funds, not only in terms of capital but also in terms of strategy, market, and supply chain.
Note for businesses when converting green and digital

Note for businesses when converting green and digital

VCN - Green transformation and digital transformation have been identified by businesses as a mandatory path if they want to develop long-term. However, there are many issues that businesses need to pay attention to right from the start of the transformation if they want to achieve efficiency.
Read More

Your care

Latest Most read
Vietnam

Vietnam's coconut exports to rise remarkably thanks to shipments to China

Fresh coconuts, a burgeoning contributor to Vietnam's agricultural exports, are poised to make a substantial impact on the nation's economy through increased shipments to China, according to officials.
Wood industry witnesses positive market signals

Wood industry witnesses positive market signals

The final months of the year are when consumers typically renovate and redecorate their homes in preparation for the New Year, providing a significant boost in export orders for the wood industry.
Vietnam’s aquatic product exports reel in positive forecasts to year end

Vietnam’s aquatic product exports reel in positive forecasts to year end

Vietnam's aquatic product exports are on track to hit a target of 9.5 billion USD by the end of this year, buoyed by sustained positive growth in recent months, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam-Sweden Business Forum 2024 opens

Vietnam-Sweden Business Forum 2024 opens

The Vietnam-Sweden Business Forum 2024 was held in celebration of 55 years of bilateral diplomatic relations by the Vietnamese Embassy and the Vietnam Trade Office in Sweden, and FPT Corporation in Stockholm on September 6.
Industrial real estate - "Magnet" attracting foreign capital

Industrial real estate - "Magnet" attracting foreign capital

VCN - With outstanding advantages such as: stable macro economy, good inflation control, positive and impressive economic growth in a difficult context; improved investment and business environment in Vietnam..., the confidence of FDI investors in Vietnam
Mobile Version