The associations and enterprises of Bulgaria introduced the fields they are operating in, including business connection, mining, manufacturing of food and veterinary products, and other industrial sectors.

NA Chairman Vuong Dinh Hue at a press conference during his official visit to Bulgaria (Photo: VNA).

They also expressed their intention to connect and readiness to form investment and business links with Vietnamese partners.

Chairman Hue spoke highly of the Bulgarian NA’s recent ratification of the EU - Vietnam Investment Protection Agreement (EVIPA) and considered this a stride which, together with the ratification by the legislatures of other EU countries, will help the deal come into effect soon and generate benefits for all EU members and Vietnam.

He called on the BIA and BCCI to cooperate with the Vietnam Chamber of Commerce and Industry (VCCI).

He also assigned the Vietnamese Embassy in Bulgaria to coordinate with relevant organizations of the European country to hold such events as seminars, business trips, forums, fairs, and exhibitions so as to help the countries’ enterprises seek partners and explore investment and business opportunities.

Aside from fueling trade activities, the EVIPA, once taking effect, will facilitate bilateral investment, he noted.

When setting up partnerships with local partners and investing in Vietnam, Bulgarian enterprises will have conditions to enter the broader Association of Southeast Asian Nations (ASEAN) market, which has a combined population of about 650 million and is the world’s fifth largest economy.

Meanwhile, Vietnamese investors and businesses working with Bulgarian firms will also hold chances for cooperation with other EU members, especially the Balkan countries, Hue went on.

The visiting leader said that during his meetings with the Bulgarian President and Prime Minister, the host leaders had affirmed their support for the two countries’ businesses to form joint ventures to invest in each other’s markets or a third country.

Talking to the representative of Geotechmin OOD – a major mining company, he said there remains enormous cooperation potential in this field. He suggested it invest in or transfer mining equipment to Vietnam.

The NA Chairman told Biovet JSC, which specializes in manufacturing veterinary products, that the export value of Vietnam’s agricultural sector topped 53 billion USD in 2022.

The Southeast Asian nation is also a big market for veterinary products as its animal husbandry sector is growing fast.

Apart from working with the Vietnamese Ministry of Agriculture and Rural Development to discuss concrete cooperation areas, the company can partner with some Vietnamese companies to distribute its products or even build a factor of veterinary drugs in the country.