31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Oct 29, 2022 / 22:36

Hanoi delegates seek business cooperation in the US, Belgium

Hanoi is seeking new business and development partnerships with the US and Belgian partners to boost its socio-economic development in the post-pandemic stage.

A Hanoi delegation, led by Vice Chairman of the People’s Committee Nguyen Manh Quyen, is visiting the US and Belgium to seek opportunities to expand business partnerships, according to the Hanoi Promotion Agency (HPA).

Textile and garments produced for exports in Hanoi. Photo: The Hanoi Times

In the US, the delegation will work with local authorities and overseas Vietnamese business communities in San Francisco and Washington, visit the Vietnamese Embassy, and study tourism and infrastructure development.

In Belgium, the delegation will meet the authorities of Wallonie-Brussels, work with local partners on animal farming and high-tech agriculture, and visit some great cattle farms in Brussels and the Vietnamese Embassy.

At the meetings and conferences, Hanoi delegates will brief the socio-economic conditions of the city, discuss policies and incentives to promote trade and investment between Hanoi and the locality, and promote business cooperation between the two sides.

The Hanoi delegation will visit the US and Belgium until November 4.

Hanoi's export turnover to the US in 2021was estimated at US$3.4 billion, or 21.5% of the city's total export turnover in 2021. The figure was up 25.9% year on year. Key Hanoi exports to the US market included textiles and garments, computers and electronics, footwear, and leather.

On the other hand, import turnover from the US to Hanoi was estimated at $1.3 billion or 3.7% of the city's total import turnover, up 23% year on year. Key imports from the US included pharmaceuticals, computers and electronics, animal feeds, and materials.

The authorities of Hanoi have granted licenses to 42 representative offices of US businesses in the city. Most US businesses are in pharmacy, electronics, telecommunications, agriculture, textile and garment, software, and computers.

In tourism, Hanoi signed a two-year partnership deal for the 2017-2018 and 2019-2024 periods with the leading media company CNN to promote the city's images, visiting sites, and cultural values to the US and North American audiences.

Regarding its relationship with Belgium, Hanoi's export turnover to the European country was worth $55 million in January-June, 2022. Key exports of Hanoi included agriculture products, textiles and garments, footwear and bags, crafts, and foods.

On the opposite side, Hanoi imported $81 million worth of Belgian products, including pharmaceuticals, wood, wooden products, machinery, elastic materials, and electronics.

Belgian government agencies and businesses operate in Hanoi in water and waste treatment, trade, automobile and motorbike repairs, science and technology, and services. The European country has assisted Hanoi in heritage conservation, urban development, technological development, and drainage treatment.