Viet Nam, Egypt pledge to facilitate investments in respective countries

Deputy Prime Minister Tran Luu Quang on July 27 (local time) held talks with Prime Minister of Egypt Mostafa Madbouly as part of his three-day official visit to Egypt. 

Prime Minister Madbouly welcomed the visit as it falls on the 60th anniversary of bilateral diplomatic ties (1963-2023).

Deputy Prime Minister Tran expressed his belief that the government and people of Egypt would successfully implement the "Sustainable Development Strategy: Egypt Vision 2030" and continue reaping significant achievements in national construction and development.

The two sides underlined the necessity to cement and deepen the bilateral ties. 

He conveyed Prime Minister Pham Minh Chinh’s invitation to the Egyptian Prime Minister to visit Viet Nam and suggested both sides actively support each other at international organizations.  

As there remains a huge room to boost ties across trade, investment and agriculture, they agreed to facilitate the exchange of business delegations and jointly hold trade and investment promotion events in each country, creating favorable conditions for strong export items, such as farm produce, rice, apparel and fertilizers, to enter each other’s market. 

Both the host and guest pledged to encourage and make it easier for businesses from both sides to increase connectivity and engage in investment projects in each country.

To make breakthrough in future trade cooperation, the Vietnamese side proposed exploring the possibility of negotiating a Viet Nam-Egypt Free Trade Agreement (FTA), working with Egypt to produce Halal food under bilateral or multilateral models, either in Viet Nam or Egypt.  

The host said Egyptian enterprises are increasingly interested in the Vietnamese market and highly value the Southeast Asian nation’s political stability and pro-business environment. They wish to further beef up the bilateral economic, trade, and investment ties and are willing to facilitate Vietnamese enterprises to do business in Egypt.

To effectively adopt those measures, both sides consented to well prepare for and soon hold the sixth meeting of the Vietnam-Egypt Joint Committee, as well as hasten the fine-tuning of legal framework for all-around cooperation between the two countries.

On the occasion, the Deputy Prime Minister thanked and wished that Egypt would continue providing scholarships for Vietnamese students to study Arabic language and other fields.

He also took the occasion to seek support for the overseas Vietnamese community in Egypt to boost mutual understanding and uphold their role as a bridge for bilateral exchanges and collaboration.

Following the talks, the two leaders witnessed the signing of a Memorandum of Understanding ohttps://baochinhphu.vn/ai-cap-san-sang-tao-dieu-kien-thuan-loi-cho-cac-doanh-nghiep-viet-nam-10223072717315005.htmn cooperation between the State Bank of Vietnam and the Central Bank of Egypt./.