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Hungarian businesses want to invest in Vietnam

14/11/2012

The forum provided a meeting point for 50 Vietnamese and 50 Hungarian businesses to meet and discuss cooperation, investment plans. The Hungarian businesses operate mostly in fields such as information technology, environmental protection, water treatment, waste treatment, medical equipment, solar energy, wind power, agriculture and electronics. The state secretary said that Hungarian businesses were visiting Vietnam to seek distributors and cooperation partners to carry out projects such as building cancer treatment centers and water supply and wastewater treatment systems. Economic cooperation between Vietnam and Hungary will benefit small and medium enterprises (SMEs) which are a key part of developing economies. The Hungarian SMEs were very keen to establish joint ventures with Vietnamese partners, especially in the fields of technology, software development and information, communications.

Ho Chi Minh City Planning and Investment Department Deputy Director Lu Thanh Phong said that Hungarian investment in Vietnam remains limited. So far, just five Hungarian businesses have invested over US$3.7 million in Ho Chi Minh City. Lu Thanh Phong added that Hungarian businesses can invest in Ho Chi Minh City in a wide range of fields such as high added value services in the fields of finance, banking and insurance, trade, distribution, transportation, storage, information and telecommunications, real estate, health, education and training. Ho Chi Minh City also attracts foreign investment in other fields such as electronics, mechanical manufacturing, chemicals and food processing.

State Secretary Szijjarto said that many Hungarian businesses wanted to seek cooperation and investment opportunities in Asian countries including Vietnam. The Hungarian Government is developing a number of new trade and investment policies, including an orientation towards Asia. The Hungarian Government will provide interest-free credit loans for some projects of Vietnam, for example water supply projects in Quang Binh (10 million euros) and Ha Tinh (15 million euros) and a population e-management project in Hai Phong. The Hungarian Government will provide Vietnam with an interest-free credit loan worth 60 million euros to help it build a tumor hospital in the city of Can Tho. The two countries will increase cooperation in the field of agriculture. Twelve large Hungarian food processing companies will export pork to Vietnam in the near future.