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PM meets leaders of Luxembourg economic groups

As part of his official visit to Luxembourg, Prime Minister Pham Minh Chinh received leaders of several large economic groups of Luxembourg and Europe on December 9 (local time).
PM meets leaders of Luxembourg economic groups hinh anh 1P
rime Minister Pham Minh Chinh at the meeting with leaders of several large economic groups of Luxembourg and Europe (Photo: VNA)
The Vietnamese government leader said that Vietnam pursues a policy of selective investment attraction, basing on criteria such as quality, efficiency, technology and environmental protection.

The country gives priority to investment projects in the fields of high technology, innovation, research and development, and those helping Vietnamese enterprises to participate in value chains, promoting digital and green economy, circular economy towards contributing to sustainable development, he said.

Meeting with Luc Provost, CEO of B-Medical Systems Group - a Belgian corporation in medical technology and pharmaceuticals, PM Chinh applauded the cooperation plan of B-Medical Systems with the Ministry of Health and the National Institute of Hygiene and Epidemiology of Vietnam, affirming that research and technology transfer cooperation in the medical field is a major policy of Vietnam in its vaccine strategy.

PM meets leaders of Luxembourg economic groups hinh anh 2
Participants at the meeting (Photo: VNA)

He suggested B-Medical Systems continue to research and invest in manufacturing high-quality and high-tech medical equipment in Vietnam, and promote technology transfer to Vietnamese partners in the coming time, noting that this is one of the sectors that Vietnam give priority to in attracting investment.

The Vietnamese Government will accompany and create favourable conditions for the Belgian firm to invest and do business effectively in Vietnam, the PM said.

Hosting Maxim Straus, Vice President and Chief Financial Officer of Cargolux Group - one of the largest cargo airlines in Europe,  the Vietnamese leader spoke highly of Cargolux's effective business and cooperation activities in Vietnam over the past 15 years, saying that those have contributed to connecting Vietnamese goods and markets with European and global  markets.

He thanked Cargolux for its close coordination and support in transporting vaccines, medical equipment and other goods to help Vietnam during the COVID-19 pandemic.

The PM  welcomed Cargolux's cooperation with Vietnam's airlines to expand its network of routes and cargo transportation systems both in Vietnam and within ASEAN, saying that Vietnam is poised to become Cargolux's main transit point in Southeast Asia.

In his meeting with Daniela Cattolico, vice president and head of the Global Procurement and Logistic of SMS/Paul Wurth Group - a global provider of metallurgical technology, PM Chinh welcomed the proposal and plan of the firm to expand its business and investment in Vietnam.

He suggested that the group transfer technology and share experience with Vietnamese partners to help them improve capacity and modernise business models, towards meeting the regulations and standards of the European Union (EU), reducing impacts on the environment and moving towards a green and clean economy, contributing to realizing Vietnam's carbon neutrality goal by 2050.

The Vietnamese leader proposed Paul Wurth to further strengthen cooperation with Vietnamese partners, especially small-and medium-sized enterprises (SMEs) and developing supply chains in Vietnam.

PM attends Vietnam-Luxembourg business forum

Prime Minister Pham Minh Chinh attended a business forum as part of his visit to Luxembourg on December 9 (local time).

Luxembourg is running 58 projects worth over 2.6 billion USD in Vietnam, ranking 17th out of 141 countries and territories investing in the Southeast Asian nation, according to the forum’s organisers.

Luxembourg is also the third largest European investor in Vietnam, with capital mainly poured into information-communications, and real estate.

The two-way trade reached 96 million USD in 2019, 110.7 million USD in 2020 and 181.6 million USD last year, a rise of 64%.

The forum was intended to identify investment potential and opportunities of each side, thus enabling businesses, investors and international organisations to make investment decisions.

In his remarks, PM Chinh said Vietnam is building three pillars of society –socialist democracy, a law-governed socialist State and a socialist-oriented market economy, while working on three strategic breakthroughs – institutions, human resources and infrastructure.

In the process, Vietnam needs resources and external support to develop its capital, stock, bond and credit markets, the PM stressed, expressing his hope that Luxembourg will share its experience in these fields.

He assured investors from Europe in general and Luxembourg in particular because the Vietnamese Government has been doing its best to improve the investment and business environment, and protect investors just like Vietnamese citizens.

According to the leader, Vietnam has signed a total of 16 free trade agreements (FTAs) with 64 big markets worldwide, along with many deals on investment protection and double taxation avoidance.
 
 The forum is intended to identify investment potential and opportunities of each side, thus enabling businesses, investors and international organisations to make investment decisions. (Photo: VNA)
PM Chinh said Vietnam is in need of high-skilled laboured and those that hold university and post-graduate degrees, noting that he and Luxembourg PM Xavier Bettel had agreed to work together to improve higher education in the Southeast Asian nation.

With the good bilateral relationship, especially in trade and investment, and the big numbers of small-and medium-sized enterprises in both countries, Vietnam and Luxembourg have favourable conditions to boost their cooperation, he said.

Vietnam has regarded Luxembourg as a bridge to the EU and Vietnam will be a bridge for Luxembourg to penetrate into the ASEAN market, he noted.

The PM said he hopes that the two countries’ investors will share experience and collaborate to deal with obstacles emerging during their cooperation.

Carlo Thelen, Director General of the Luxembourg Chamber of Commerce, said Vietnam is the 9th biggest trade partner of Luxembourg outside the EU and has the highest economic growth in ASEAN along with potential for the building of production and manufacturing centres.

Luxembourg firms strongly believe that the relationship between the two countries will grow further in the time ahead, he said. 

Source: VNA

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