PM Pham Minh Chinh attends Vietnam – Romania Business Forum in Bucharest: Prime Minister Pham Minh Chinh and Romanian Prime Minister Ion Marcel Ciolacu attended the Vietnam-Romania Business Forum. (Source: VNA)

Prime Minister Chinh made the statement while attending the Vietnam – Romania Business Forum co-organised by the Vietnamese Ministry of Planning and Investment, the Vietnamese Embassy in Romania and the Chamber of Commerce and Industry of Romania.

Highlighting the sound time-honoured Vietnam – Romania relations over the past nearly 75 years, Prime Minister Chinh said the friendship and comprehensive cooperation between the two countries have been deepened in the areas of politics, diplomacy, trade, agriculture, industry, labour, tourism and education and training.

The leader laid stress on Vietnam’s economic development strategy which is based on the three pillars of building a law-governed socialist state, a socialist democracy and a socialist-oriented market economy, adding the country pursues the goal of an independent, self-reliant economy that engages in the international integration in a deep, comprehensive, practical and effective way.

He went on to underscore that Vietnam never sacrifices social progress and equality, and the environment for pure economic growth, adding that the country has focused on three breakthrough strategies on institutions, human resources and infrastructure which will create favourable conditions for businesses to reduce input costs and improve competitive capacity, thus having effective, sustainable and long-term development in Vietnam.

PM Pham Minh Chinh attends Vietnam – Romania Business Forum in Bucharest: PM Pham Minh Chinh speaks at the Vietnam – Romania Business Forum. (Photo: VNA)

Prime Minister Chinh said he and his Romanian counterpart Ion-Marcel Ciolacu had successful talks, during which the two government leaders reached consensus on measures to bolster investment and business cooperation, especially in the field of each other’s strength and demand, and promote the bridging role to help each other break into the regional markets.

Vietnam prioritises investments in digital economy, green economy, circular economy and knowledge-based economy, with projects in the areas of high technologies, electronics, semiconductor, innovation, renewable energy, and infrastructure development, among others, he stressed.

He took this occasion to thank Romania for its positive role in the signing of the EU-Vietnam Free Trade Agreement and being one of the first nations to ratify the EU-Vietnam Investment Protection Agreement, and suggested enterprises of both sides to capitalise on the deals to boost cooperation for development.

The Prime Minister recommended the two sides step up exchange and investment in the fields of Vietnam’s demand and Romania’s strengths, comprising mechanical engineering, specialised machinery, medical equipment and automobile manufacturing industry.

PM Pham Minh Chinh attends Vietnam – Romania Business Forum in Bucharest: Overivew of the event. (Photo: VNA)

Describing geographical distance as a barrier for the two countries’ cooperation, Prime Minister Chinh said that it can be addressed with the good implementation of digital transformation and e-commerce, and modern means of transport.

At the Forum, participants were introduced to investment potential, climate and opportunities in Vietnam and Romania. Businesses had the chance to get a deeper insight into the economic development strategies in each nation as well as their business procedures, infrastructure and human resources.