Investment
Portugal wants to increase its investment in Vietnam
Portugal hopes to invest in sectors of its strength such as tourism, infrastructure construction, renewable energy and especially marine economy in Vietnam, leaders of Portuguese Parliamentary and Foreign Ministry affirmed at the meeting Head of the Communist Party of Vietnam Central Committee’s Commission for External Relations Hoang Binh Quan in Lisbonne on December 2.
Head of the Communist Party of Vietnam (CPV) Central Committee’s Commission for External Relations Hoang Binh Quan met with Portugal's Secretary of State of Foreign Affairs and Cooperation Teresa Ribeiro in Lisbonne on December 2.
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At the meeting, Teresa Ribeiro discussed with the Vietnamese delegation measures to strengthen the bilateral relations in all fields including economy, politics and culture.
She said that Portugal wishes to invest in sectors of its strength such as tourism, infrastructure construction, renewable energy and especially marine economy in Vietnam.
The two sides pledged to increase exchanges between their businesses and investors, thus promoting economic-trade and investment cooperation between the two countries.
The two leaders also suggested the two nations hold frequent political consultations and support each other in training, while agreeing to work together in the tri-party cooperation framework with a country in the Portuguese-speaking community, such as Angola, Mozambique, or Timor Leste.
In 2015, the two nations’ trade value was estimated at 400 million USD. The two countries are expected to reach their trade value at 1 billion USD in the coming time.
A Portuguese language training centre was recently established under the Hanoi University, the first of its kind in Vietnam.
In the same day, Quan had a working session with the Portuguese Parliamentary Committee for External Relations.
Addressing the meeting, Chairman of the committee Sergio Sousa Pinto stressed the significance of the Europe-Vietnam free trade agreement (EVFTA) to both Vietnam and the EU, vowing that Portugal will consider the ratification of the deal soon.
Portugal will play an active role in speeding up the EVFTA approval, bringing Vietnam and the EU closer together, Pinto added.
For his part, Quan updated the host parliamentarians on the East Sea situation and Vietnam’s policy of solving the disputes by peaceful measures in line with the 1982 United Nations Convention on the Law of the Sea.
He noted that the East Sea involves the interests of the world, including Portugal, as 40 percent of global goods are transported via the waters.
Pinto affirmed Portugal’s strong support for maritime freedom in the East Sea, saying that Portugal, as a coastal nation, pays attention to freedom of navigation and the maintenance of open seas.
Vietnam and Portugal have recently recorded a significant progress in their relationship, with regular exchanges and meetings between the two communist parties.
