On April 3, at the headquarters of the Vietnam Chamber of Commerce and Industry (VCCI), VCCI President Hồ Sỹ Hùng held a meeting with Mongolian Ambassador Extraordinary and Plenipotentiary to Vietnam Jigjee Sereejav to discuss directions for promoting economic and trade cooperation as well as business connectivity between the two countries.

VCCI President Hồ Sỹ Hùng and Mongolian Ambassador Extraordinary and Plenipotentiary to Vietnam Jigjee Sereejav.

Opening the meeting, VCCI President Hồ Sỹ Hùng highly appreciated the efforts of Ambassador Jigjee Sereejav during a challenging tenure that began amid the Covid-19 pandemic. Despite global uncertainties, bilateral trade turnover has continued to grow compared to previous periods, demonstrating that the cooperation foundation between Vietnam and Mongolia has been further strengthened.

The VCCI President affirmed that Vietnam and Mongolia share a strong traditional friendship, with close and reliable cooperation. However, when looking at economic, investment, and trade figures, the current scale remains modest compared to the potential.

From this perspective, he emphasized that what Vietnamese enterprises need most is more complete and timely information about the Mongolian market. According to him, the demand for international market expansion among domestic enterprises is significant, with Mongolia being a market of growing interest, particularly in the mining sector.

President Hồ Sỹ Hùng also noted that Vietnamese enterprises are fully capable of long-term cooperation, but investment decisions require clearer information on costs, supply stability, legal conditions, and transportation routes.

Sharing this view, Ambassador Jigjee Sereejav stated that there remains substantial room to expand Vietnam–Mongolia cooperation. According to the Ambassador, the strengths of the two economies are more complementary than competitive, providing a solid basis for stronger business linkages in the future.

Regarding practical investment demand, the Ambassador pointed out that the biggest current obstacle lies in transport infrastructure and logistics. He explained that if transportation costs remain high and connectivity routes are inefficient, businesses will face difficulties in scaling up cooperation. Therefore, he proposed the possibility of organizing a trilateral meeting among Vietnam, Mongolia, and China to explore the development of a railway connection agreement linking the three countries.

According to the Ambassador, both Vietnam and Mongolia already have experience in railway cooperation with China. With a trilateral coordination mechanism, Vietnamese goods could transit through Mongolia to access broader markets, particularly Europe.

Responding to this proposal, President Hồ Sỹ Hùng noted that although infrastructure still requires further improvement, Vietnamese goods are already capable of reaching more distant markets through existing routes. In the coming time, enhancing the synchronization of infrastructure and logistics will be a key factor in expanding cooperation potential between enterprises of the two countries.

Both sides agreed to continue strengthening information sharing, business connectivity, and promoting cooperation initiatives in the future.

From VCCI’s perspective, the President affirmed that the organization will continue to recommend that relevant authorities pay greater attention to logistics challenges, noting that resolving these bottlenecks could significantly expand trade growth potential between Vietnam and Mongolia.

In addition, President Hồ Sỹ Hùng highlighted that VCCI, particularly its International Relations Department, has extensive experience in connecting partners, supporting enterprises in market research, completing procedures, and promoting investment. He expressed hope that the Mongolian side would enhance coordination in providing information to Vietnamese enterprises, especially data related to the mining sector such as extraction costs, supply stability, and transportation routes, enabling businesses to make well-informed decisions before implementing projects.

Concluding the meeting, President Hồ Sỹ Hùng extended his best wishes to Ambassador Jigjee Sereejav for a successful completion of his tenure, while expressing hope that his successor would continue close coordination with VCCI and build upon the initiatives currently being advanced by both sides.