VCCI Chairman Pham Tan Cong and Turkish Ambassador Korhan Kemik (Photo: Truong Dang)

On November 6, in Hanoi, Chamber of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Tan Cong had a meeting with Turkish Ambassador Korhan Kemik for a working visit.

Here, Mr. Kemik affirmed that Vietnam is increasingly becoming an attractive destination for investors around the world. Relations between the two countries have been developing very positively in recent times, as evidenced by the visit to Turkey by Vietnamese Prime Minister Pham Minh Chinh in November last year. According to Mr. Kemik, this is a premise for the two countries to cooperate and perfect the legal framework to facilitate future trade and investment cooperation.

Another highlight in bilateral trade relations is the launch of the Turkish Chamber of Commerce in Vietnam (Turkcham) in September 2024. This is an important bridge, connecting businesses of the two countries and promoting more effective economic cooperation.

The two sides discussed opportunities and potential for future trade and investment cooperation (Photo: Truong Dang)

In particular, Mr. Kemik emphasized that Turkish enterprises are participating in the construction of the Long Thanh International Airport Project. This is a clear demonstration of the capacity and prestige of Turkish enterprises in the field of construction and large-scale infrastructure.

VCCI Chairman Pham Tan Cong affirmed Turkey's position and economic potential in the region and the world. He said that Vietnam and Turkey have many potential areas of cooperation that can support each other, such as industry, textiles, machinery manufacturing, and food processing. However, up to now, trade results have not really been commensurate with the potential of each country.

Therefore, in the coming time, the VCCI Chairman hopes that the Turkish Embassy will further strengthen cooperation with VCCI to organize information exchange events, seminars to share investment experiences, and introduce and connect businesses. VCCI, as the leading organization representing nearly 1 million Vietnamese businesses, can help significantly enhance trade between the two countries.

The two sides agreed to strengthen cooperation to organize many trade connection events for Vietnamese and Turkish businesses in the future (Photo: Truong Dang)

In terms of trade, Turkey is one of Vietnam's leading trade partners in the Middle East and is a gateway for Vietnam to export to the Middle East and Southern European markets. Bilateral trade turnover in 2023 reached more than 2 billion USD, of which Vietnam exported 1.6 billion USD. Vietnam is Turkey's third largest trade partner in ASEAN.

In terms of investment, by the end of 2023, Turkey had 36 valid investment projects, with a total registered capital of 974.3 million USD, ranking 26th out of 143 countries and territories with investment projects in Vietnam.

Notable projects that have been and are being implemented include: Hayat Kimya Company invested 250 million USD to build a factory producing detergents, toilet paper... in Binh Phuoc province; Bora Lastik Company bought shares of Da Nang Rubber Company.

In August 2023, IC Ictas Company (under IC Holdings Group) of Turkey led the Vietur Joint Venture to win the bid for the construction and installation of passenger terminal equipment worth 35,000 billion VND of the Long Thanh Airport Project.

Turkey is the 19th largest economy in the world, with rich natural resources, a diverse economic development: mining industry, textiles, machinery manufacturing, household appliances, food processing, shipbuilding are quite developed; construction and agriculture are strongly developed. Türkiye's tourism industry is also very developed, attracting more than 30 million tourists each year.

Turkey is one of the few countries in the world that has maintained positive growth during the COVID-19 pandemic. Although the economy faces some difficulties, Turkey is still a leading economic center in the region, especially in the fields of defense industry, construction, investment, consumer industry... With its geographical location connecting the two continents of Asia and Europe and its increasing position and influence, Turkey is the gateway for goods from other countries to penetrate the Middle East and Southern European markets.