VCCI President Pham Tan Cong (R) and Dominican Ambassador Jaime Francisco Rodríguez

During the meeting, Ambassador Rodríguez highlighted that the Dominican Republic has been experiencing an annual growth rate of over 5%, positioning it as the 7th in Latin America and 1st in the Caribbean region.

 He expressed a keen interest in fostering development cooperation between the two nations, particularly in the realms of trade and investment. Despite the current bilateral trade turnover being modest at an average of US$100 million per year, he emphasized the high growth potential that exists.

Ambassador Rodríguez noted the many similarities between the Dominican Republic and Vietnam, including their shared history of overcoming wars to achieve independence. He expressed hope that through diplomatic activities, the two countries would further promote comprehensive growth in people-to-people exchanges, as well as cooperation in various sectors such as agriculture, science and technology, culture, tourism, construction, and climate response. He also stressed the importance of maintaining coordination and mutual support at international organizations and multilateral forums.

The Ambassador announced that the new Embassy of the Dominican Republic in Hanoi is set to commence operations in February 2023, marking a significant milestone in the bilateral relationship and further deepening the comprehensive ties between the two nations. He extended an invitation on behalf of the President of Dominica to the President of VCCI to visit Santo Domingo, the capital city that is currently undergoing rapid development of its infrastructure system and transportation network.

In response, VCCI President Pham Tan Cong expressed his delight at welcoming the Ambassador of the Dominican Republic. He emphasized Vietnam’s appreciation and value for relationships with countries worldwide, particularly those in Latin America. He emphasized that companies of the two countries need to be more active and connected to strengthen cooperation in many fields, especially where the two sides still have a lot of potential for cooperation such as trade and investment towards sustainable development goals.

VCCI President Cong noted that with the support of both governments and the efforts of the two business communities, the bilateral economic and trade relations are poised for further deepening, elevating the bilateral partnership to new heights. As a national representative of the business community, VCCI is committed to supporting Vietnamese businesses in boosting extensive and comprehensive economic cooperation with the Dominican Republic. It also aims to serve as a bridge for Dominican Republic companies looking to conduct business and invest effectively in Vietnam, thereby fostering and developing strong bilateral relations.