2008 is the year of Spanish investment and trade in Vietnam, declared an official from the Spanish Economic and Commercial Office in Ho Chi Minh City.
Isaac Martin-Barbero, head of the office, said in a recent meeting with local media that Spain has chosen 2008 as the year to improve and expand its bilateral trade and investment with Vietnam. He said the office will organize many special events this year in both Vietnam and Spain to attract businesses and investors from the two countries. “Vietnam is the second fastest growing economy in Asia, and Spain the second fastest in Europe,” he said.
He added that at least four big forums and seminars would be held in HCMC and Hanoi in 2008, while several others will be organized in Spain to introduce trade and investment opportunities in Vietnam for its local businesses. The events will focus on Vietnam’s potential industries like infrastructure, franchising and mobile phone services, he said.
The first forum is to take place in late February and will bring about 30 businesses together from numerous industries like engineering, renewable energy, tourism, medicine and infrastructure, he said. Francisco Montes Jovellar from ICEX (Foreign Trade Institute of Spain) said the Spanish government has policies to encourage leading Spanish businesses in sectors like finance, metro and railway systems, renewable energy, water treatment and infrastructure, to invest in developing countries. Vietnam’s exports to Spain have increased dramatically since 2001.
Vietnam exported about US$278.5 million worth of shoes, coffee, clothes, fish and furniture in 2001, but this had increased to $1.3 billion in 2007. Spain now ranks as Vietnam’s 10th biggest customer for exports. Spain exported machinery, pigments, electronic materials and pharmaceutical products totaling $200 million to Vietnam last year. (Thanh Nien)
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