The event was jointly organized by the Vietnam Chamber of Commerce and Industry (VCCI) and the Federation of Egyptian Chambers of Commerce (FEDCOC).

Egyptian President Abdel Fattah el-Sisi speaking at the Vietnam-Egypt Business Forum

Addressing the forum, Deputy Prime Minister and Foreign Minister Pham Binh Minh said when investing in Vietnam, Egyptian companies will have a chance to get access to the Vietnamese market with a population of 93 million and the ASEAN market of more than 600 million consumers.

There are plenty of potentials for bilateral trade and economic cooperation, especially in the fields of manufacturing, processing, garment-textiles, footwear, and oil and gas, he said, adding that Vietnam hopes Egypt will serve as a bridge to connect the Southeast Asian country with other nations in Africa.

The Vietnamese Government will accompany and create favorable conditions and an open investment environment for Vietnamese and Egyptian businesses, Minh stressed.

The Deputy PM also asked the VCCI to actively coordinate with the FEDCOC to facilitate business operations and connectivity of Vietnamese and Egyptian enterprises.

Egyptian President Abdel Fattah el-Sisi said Egypt wants to become a strategic center, thus developing logistics and building industrial parks to export products to other nations, as well as implementing projects on land development, renewable energy, and building new administrative urban areas.

Egypt welcomes Vietnamese businesses to invest in developing small-and medium-sized enterprises, shipbuilding, construction, aquaculture, fertilizer, and garment-textiles, he added.

Egypt is now the third biggest trade partner of Vietnam in Africa with two-way trade reaching an annual average level of USD 320 million.

VCCI Chairman Vu Tien Loc said the VCCI will continue coordinating with the FEDCOC to increase the bilateral trade value to 1 billion USD in the future set by the two governments.

Source: VNA