The Vietnamese Embassy delegation take a group photo with typical businesses in Central Mexico. (Photo: VNA)

Mexico City - A delegation from the Vietnamese Embassy in Mexico led by Ambassador-Designate Nguyen Van Hai has paid a working trip to Guanajuato state to explore opportunities for cooperation between Vietnam and Mexico, as well as between Vietnamese localities and Guanajuato.

The October 24-25 trip formed part of activities to bolster ties between Vietnam and various regions of Mexico.

During working sessions with businesses in the Bajio region comprising the central states of Guanajuato, Queretaro, and Michoacan, the diplomat highlighted Vietnam's significant economic, trade, and investment achievements after nearly 40 years of implementing Doi moi (reform), noting its average GDP growth of 6-6.5% over the past three decades.

Thanks to its sound policies, Vietnam has emerged as a rapidly developing country across various sectors. It has established itself as an attractive investment destination among emerging economies, luring thousands of companies from over 100 countries, including leading global corporations like Samsung, Toyota, Ford, and Intel.

According to Hai, Vietnam attracted 36.6 billion USD in foreign direct investment (FDI) last year, up 32% year-on-year. Notably, in the first nine months of 2024, the country garnered 25 billion USD in FDI, reflecting an 11.6% increase compared to the same period in 2023, despite challenges posed by global geopolitical instabilities.

Addressing a forum to foster trade and tourism exchange between Vietnam and San Miguel de Allende, a renowned tourist destination in Guanajuato state, the ambassador-designate underlined Vietnam's investment advantages such as its open economy and macroeconomic stability. He pointed out that Vietnam, strategically located in the heart of the Association of Southeast Asian Nations (ASEAN), serves as a gateway for international investors to access a market of 650 million people and as a bridge to 200 countries and territories that are its trade partners.

Regarding bilateral relations, Hai noted that they have been strengthened across all areas, including politics, economy, trade, culture, education, and tourism. He affirmed that trade between the two countries is expected to continue growing significantly, especially as both are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Vietnamese commercial counsellor in Mexico Luu Van Khang said that ample room remains to promote trade cooperation between the two countries as more Mexican companies show interest in Vietnamese products. However, two-way trade still faces challenges due to the absence of direct transportation routes between the two countries, which increases import and export costs and reduces product competitiveness, he added.

Laura Mayela Rodriguez, President of the Chamber of Commerce, Services, and Tourism of San Miguel de Allende, held that the forum offered an opportunity for trade connections and provided a foundation for local businesses to gain insights into the Vietnamese market, especially in sectors of both sides' interest.

As part of their trip to Guanajuato, the Vietnamese delegation toured several handicraft production facilities in San Miguel de Allende and visited the 600-ha Highland Queen farm, a Vietnamese-owned establishment specialising in cultivating vegetables for export./.