Jointly held by the Vietnamese Ministry of Planning and Investment, the Vietnamese Embassy in Türkiye, and the Foreign Economic Relations Board of Türkiye, the event brought together representatives from ministries, agencies and localities, and nearly 200 corporate leaders of the two countries.

PM Chinh congratulated Türkiye on its outstanding development to join the group of the 20 largest economies in the world (G20).

He briefed the participants on Vietnam’s national construction and foreign policy, stressing the country aims to build an independent, self-reliant economy in parallel with proactive and effective international integration.

Vietnam is focusing on three strategic breakthroughs, covering institution building and perfection; infrastructure; and human resources development and administrative reform, he said.

An open policy system, smooth infrastructure and smart administration will help foreign investors operate stably and effectively in the Southeast Asian nation, the leader emphasised.

Vietnam wishes to cooperate in digital economy, green transition, circular economy, knowledge-based economy, and sharing economy, with science, technology and innovation as new driving forces for national development, the PM continued.

The Government leader affirmed that Vietnam always creates optimal conditions for large, high-tech, and experienced enterprises, including those from Türkiye, to operate in the country.

He held that ample room remains for the two countries to boost their collaboration, yet cooperation mechanisms remain limited. Therefore, Türkiye’s recognition of Vietnam’s full market economy status and a free trade agreement will facilitate the operations of their businesses.  

According to the PM, both countries have expressed their wish to advance their relationship to a new height, thus helping to promote cooperation in all fields, from politics and diplomacy, to economy, trade, investment, culture, tourism and people-to-people exchange.

Representatives from Turkish ministries and businesses said that Türkiye wishes to cooperate with Vietnam in transport infrastructure, household utensil production, science-technology, finance, aviation, logistics, renewable energy, pharmaceuticals, agriculture, and the Halal industry.

The Turkish side said it wants to penetrate deeply into the potential Vietnamese market and enter the ASEAN market through the country.  

Statistics show that two-way trade reached 2.4 billion USD in 2022, which is expected to rise in the time ahead. Türkiye is now Vietnam’s largest direct investor from the Middle East region, with a total registered capital of nearly 1 billion USD.

 

A number of agencies and businesses of the two countries signed cooperation agreements on this occasion.

On the same day, Chinh received the Chairperson of the Board of Directors and leaders of the Turkish giant IC Holdings, a multi-industry group operating mainly in the construction sector.

Vietur, a consortium led by its IC Ictas, has won the 35 trillion VND (1.44 billion USD) bidding package to build the terminal for Long Thanh International Airport in the southern province of Dong Nai.

The IC Holdings representatives lauded the investment environment in Vietnam, and noted their wish to coordinate closely with Vietnamese agencies and businesses to effectively implement the bidding package, while expanding cooperation and investment in essential infrastructure, energy and health care.

Chinh suggested the group coordinate closely with the Vietnamese Ministry of Transport and relevant agencies and localities to deploy the bidding package effectively as scheduled and ensure the set quality.

The PM suggested IC Holdings seek investment opportunities in other specific projects in the areas of its strengths and Vietnam’s priorities, especially infrastructure construction, industry, energy, tourism and smart city building.

Prime Minister hosts Turkish finance, industry ministers

Prime Minister Pham Minh Chinh hosted separate receptions for Turkish Minister of Budget and Finance Mehmet Simsek and Minister of Industry and Technology Mehmet Fatih Kacir in Ankara on November 30 (local time).

Hosting Minister Simsek, PM Chinh stressed that Vietnam and Türkiye hold strategically important geographical positions, capable of helping each other connect with major markets in Europe, the Middle East-Africa, and Asia.

Vietnam values the strengthening of economic cooperation on a mutually beneficial basis between the two countries, he said.

As there remains huge room for bilateral collaboration and the two economies are complementary to each other, Chinh suggested the minister continue actively contributing to improving the effectiveness of bilateral economic ties. The measures include stepping up negotiations on the Vietnam-Türkiye Free Trade Agreement (FTA), removing trade barriers for Vietnamese exports, recognising Vietnam as a market economy, and increasing the sharing of experience with Vietnam in building fiscal and monetary policies.
 
Simsek, for his part, affirmed that Türkiye and Vietnam are well-positioned to develop ties. He affirmed Vietnam is one of the priority economic partners of Türkiye, wished that their multifaceted cooperation will grow stronger.

Agreeing with cooperation directions set by the PM, he underscored the importance of combining efforts to enhance exchanges through promoting air connectivity, creating favourable visa conditions, and opening branches of commercial banks in Vietnam.

He highlighted the need to reduce protective measures to facilitate trade cooperation, explore the possibility of initiating FTA negotiations to create breakthroughs in bilateral trade at an opportune time, aiming for a trade balance and establishing stronger cooperation frameworks in the future; and encourage Turkish enterprises to engage more in infrastructure development investment projects in Vietnam.

 PM Pham Minh Chinh meets with Turkish Minister of Industry and Technology Mehmet Fatih Kacir (Photo: VNA)
Meeting Minister Kacir, PM Chinh expressed his wish to bolster coordination with Türkiye in national industrialisation process.

Hailing Türkiye as Vietnam’s biggest direct investor from the Middle East, he welcomed and committed all possible support to Turkish firms and groups doing business in the country.

The Vietnamese leader proposed that given Türkiye's experience in operating industrial zones (IZs), the country explore opportunities for investment and share management experience in operating IZs and hi-tech zones in Vietnam. Both sides could discuss this matter in detail at the eighth session of the Intergovernmental Committee, he said.

In reply, Kacir affirmed that as an industrial and manufacturing nation, Türkiye wishes to further improve the effectiveness of cooperation with Vietnam in areas of strength such as industry, high technology, automation, defence industry, automobile manufacturing, and satellite technology.

Suggesting further collaboration between Turkish electric car manufacturers and Vietnamese partners, he said it as a new but highly potential area.

He agreed with the importance of a network of free trade agreements in accessing and expanding markets, suggesting that both countries continue refining the legal framework to facilitate their cooperation activities in the near future./.VNA