Vietnamese, Turkmenistan Firms Enhance Business Cooperation

10:05:48 AM | 7/1/2022

The Vietnam-Turkmenistan Business Forum has provided an ideal venue for enterprises from both sides to seek cooperation opportunities in the near future, according to insiders.

The Vietnam-Turkmenistan Business Forum takes place in Hanoi on June 29. (Photo: VNA)

This statement was made by Deputy Minister of Foreign Affairs of Turkmenistan Vepa Hajiyev at the Vietnam-Turkmenistan Business Forum in Hanoi on June 29.

The event is part of a range of activities taking place to mark the visit by a delegation of more than 40 Turkmenistan enterprises led by the Deputy Minister Hajiyev from June 29 to July 1.

Upon addressing the event, Deputy Minister Hajiyev highlighted the country's great efforts made to promote diplomatic ties and economic cooperation between the two countries over the past 30 years.

He emphasised the need to boost trade exchanges and investment attraction between both sides, especially in advantageous areas.

At present, Turkmenistan possesses many strengths in fields such as natural gas, cotton, fabrics, and carpets of all kinds, while the country is capable of producing industrial products, as well as consumer items such as tea, coffee, and seafood which can meet Turkmenistan’s import demand.

Bui Trung Nghia, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), outlined that the country recorded the highest average annual GDP growth rate in the world at approximately 7% in the 1991 - 2021 period.

Despite the negative impacts of the COVID-19 pandemic, the country was among the few nations with a GDP growth rate exceeding 2.58% last year, and posted growth of 5.03% in the first quarter and 6% in the second quarter of the year.

Along with advantages such as political stability, an abundant and qualified workforce, transport infrastructure, and rapid digital transformation, Vietnam has also emerged as a leading attractive destination for FDI attraction.

So far, investors from 139 countries and territories globally have so far invested over 420 billion USD in Vietnam. Last year, some leading corporations in the world such as LG, Samsung, Intel, and LEGO invested big in the nation, despite challenges relating to COVID-19.