Vietnam Time

9/26/2017 10:01:58 AM

Vietnam, Hungarian businesses seek cooperation opportunities

Vietnamese and Hungarian businesses had a chance to step up their cooperation in areas such as information-technology and high-tech agriculture at a forum in Hanoi on September 25.

Hugarian PM Viktor Orban and Deputy PM Vu Duc Dam witness the signing ceremony for several cooperation agreements between the two sides. (Credit: VGP)

The Vietnam-Hungary Business Forum took place on the occasion of Hungarian Prime Minister Viktor Orban’s official visit to Vietnam from September 24-25.

Addressing the event, Pham Thi Thu Hang, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI), highlighted the thriving trade ties between the two countries, with a total two-way trade in 2016 reaching US$266 million, up 35.7%.

Of the figure, Vietnam’s export to Hungary hit US$93 million, representing an increase of 41%.

In the first four months of this year, the bilateral trade was US$104.4 million, a rise of 8.3% against the same period last year. Vietnam’s export to Hungary stood at nearly US$50.6 million, up 102%, and its import was US$53.8 million, up 69%.

However, Vietnam only ships computers, electronics, means of transportation, spare parts, garments-textiles and footwear to the European country.

The participating Hungarian enterprises operate in agricultural services, mechanics in service of agriculture, food processing, industrial waste treatment, heavy and light industries, health care, IT, banking, architecture and construction materials and household utensil production.

Jamniczky Zsolt, a representative of E.ON Company, Hungary’s leading energy provider, noted that his company wants to study the Vietnamese market to invest in energy and energy equipment, especially solar power.

Some Hungarian firms said they are seeking skillful and blue-collar labourers to work in Hungary./.

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