Vietnam and Bangladesh are large and promising markets

On the afternoon of September 22nd, in the capital Dhaka, Chairman of the National Assembly Vương Đình Huệ had working sessions with leaders of Doreen, Monem conglomerates, the Bangladesh Association of Pharmaceutical Industries (BAPI), and the leaders of the Association of Travel Agents of Bangladesh (ATAB). He also met with the Vice Chairman of the Federation of Bangladesh Chambers of Commerce and Industry and the leaders of the Bangladesh-Vietnam Chamber of Commerce and Industry (BVCCI) and the Dhaka Chamber of Commerce and Industry (DCCI). During the meeting, Chairman of the National Assembly Vương Đình Huệ proposed that Bangladeshi corporations and businesses explore investment opportunities and collaborate with potential Vietnamese partners to develop markets and engage in business cooperation in areas where Bangladeshi conglomerates excel, such as real estate, construction materials, pharmaceuticals, industrial zone construction, and tourism. Listening to the suggestions and proposals of the Bangladeshi businesses, Chairman of the National Assembly Vương Đình Huệ emphasized that the Vietnam-Bangladesh relationship is developing well, with mutual trust, rapidly advancing economic cooperation, and significant potential. This provides a solid foundation for businesses from both countries to expand their cooperation. On the afternoon of September 22nd, in the capital Dhaka, Chairman of the National Assembly Vương Đình Huệ exchanged information about Vietnam’s current development situation. He mentioned that as of the end of August 2023, Vietnam has 37,084 active investment projects with a total registered capital of over $453.26 billion from 143 countries and territories. Currently, Bangladesh has a total of 19 active investment projects in Vietnam with a registered capital of $940,000. Affirming Vietnam as a nation with a sustainable and steadily growing economy, a dense population with a rapidly growing middle class, continuously improving per capita income, and with respect to the areas of interest for the businesses present, Chairman of the National Assembly Vương Đình Huệ emphasized that Vietnam and Bangladesh are large, promising markets for the consumption of goods and quality products. During the discussion with Chairman of the National Assembly Vương Đình Huệ, the leaders of the conglomerates expressed their desire to understand the market and implement collaborative projects with Vietnamese partners in the areas of strength in the near future. On this occasion, Chairman of the National Assembly Vương Đình Huệ informed about recent policy orientations and legal development programs, including amendments and supplements to regulations to meet the practical requirements of life and the increasingly deep international integration demands. He suggested that corporations and business associations with extensive branch networks could serve as a bridge to bring potential investors from both within and outside Bangladesh to invest in Vietnam. Additionally, they could actively promote and introduce information about Vietnamese businesses to domestic enterprises. Chairman of the National Assembly Vương Đình Huệ also met with the leaders of the Association of Travel Agents of Bangladesh (ATAB), representing about 3,500 businesses in the aviation and tourism sectors of Bangladesh. ATAB supports its member businesses in seeking business opportunities and exploring potential markets to promote aviation and tourism activities between Bangladesh and countries in the region and internationally. Leaders of ATAB and economic conglomerates of Bangladesh also acknowledged Vietnam as an attractive tourist destination in the region and on the continent, experiencing a booming development after the Covid-19 pandemic. They saw these as favorable conditions, opening up opportunities for businesses and tourism service providers from both countries to enhance and develop business cooperation within the business communities of the two countries in the coming times. On the afternoon of September 22nd, in the capital Dhaka, Chairman of the National Assembly Vương Đình Huệ also received Mr. Joshoda Jibon Nath, Vice Chairman of the Federation of Bangladesh Chambers of Commerce and Industry. Chairman of the National Assembly Vương Đình Huệ expressed his gratitude to the Federation of Bangladesh Chambers of Commerce and Industry for their collaboration with the Ministry of Industry and Trade of Vietnam in organizing the Policy and Law Forum to promote trade and investment cooperation between the two countries during his visit. Chairman of the National Assembly Vương Đình Huệ mentioned that during this visit, leaders from several Vietnamese ministries, sectors, and localities along with hundreds of businesses are ready to share experiences and propose favorable policies to promote investment cooperation. He also hoped that Bangladesh would create favorable conditions for Vietnamese investors to learn about long-term investment and business opportunities. Furthermore, Chairman of the National Assembly expressed willingness to welcome Bangladeshi enterprises to explore investment opportunities in Vietnam. During the meeting with the leaders of the Vietnam-Bangladesh Chamber of Commerce and Industry (BVCCI) and the Dhaka Chamber of Commerce and Industry (DCCI), Chairman of the National Assembly welcomed and highly appreciated the candid opinions and suggestions from the leaders of the representative organizations of Bangladeshi businesses. He affirmed that their effective activities in the past have positively contributed to the economic, trade, and industrial development of Bangladesh, as well as highlighted their crucial role as a bridge between the business communities of Bangladesh and Vietnam, supporting Vietnamese enterprises in business operations and trade in the respective countries. Chairman of the National Assembly Vương Đình Huệ expressed confidence in the potential and strengths of both economies with large populations. He noted the improving investment environment, flexible policy mechanisms, and the increasing number of Bangladeshi companies coming to Vietnam to explore and connect investment and business opportunities for the mutual benefit of both sides. Additionally, Vietnamese businesses have the opportunity to learn about the experience in the textile and apparel supply chain and greening models in Bangladesh, thus promoting trade and cooperation to enhance the value-added of various products. On this occasion, the leaders of the representative organizations of Bangladeshi businesses expressed their desire for Vietnam to soon establish direct flights to facilitate cultural cooperation, tourism, people-to-people exchanges, and create favorable conditions for businesses from both countries to have complete information. This would enable them to realize programs that promote economic development and effective business cooperation. Earlier on the morning of September 22nd, in the capital Dhaka, Chairman of the National Assembly Vương Đình Huệ met with Chairman of the Bangladesh-Vietnam Friendship Society, Shamsher M.Chowdhury, former Deputy Minister of Foreign Affairs and former Ambassador of Bangladesh to Vietnam During the meeting, the Chairman of the National Assembly affirmed: Over the past 50 years, the most valuable and cherished asset has been the friendship between the people of the two countries. He expressed the desire that in the new chapter of the 50-year relationship between the two countries, it will be written with a higher level, greater effectiveness, and the people playing a decisive role. The Chairman of the National Assembly stated that after this visit, he would direct the Vietnam Union of Friendship Organizations to coordinate with the Bangladesh-Vietnam Friendship Association in cooperative activities and consider establishing the Vietnam-Bangladesh Friendship Association in the near future. Mr. Chowdhury emphasized that along with the good development of political and diplomatic relations, the visit of Chairman of the National Assembly Vương Đình Huệ contributes to further strengthening the relationship between the people of the two countries. It is an opportunity to expand people-to-people diplomatic relations between the two nations, enabling the people of Bangladesh to share the good values with the people of Vietnam. During the meeting, Mr. Chowdhury mentioned that the Association would propose to the Government of Bangladesh to name a road after President Hồ Chí Minh in the capital, Dhaka. Chairman of the National Assembly Vương Đình Huệ stated that if this proposal is successful, it would have great significance. He also expressed agreement on the Association’s collaboration with the two friendly MP groups to enhance and tighten people-to-people diplomatic relations. Additionally, he suggested that the Association contribute to boosting trade and investment activities between the two countries by facilitating market exploration and connections between businesses from both nations. This, in turn, would promote people-to-people exchanges and support the integration of the Vietnamese community in Bangladesh, enabling them to contribute to the local society. Source : https://vneconomy.vn