Vietnam & Argentina seek to expand investment partnership

Vietnam and Argentina should expand their investment partnership in promising areas such as high-tech agriculture, mining and lithium production, agricultural product processing, biotechnology, green energy, and AI technology, Deputy National Assembly Chairman Tran Quang Phuong has said.

Speaking at the Vietnam-Argentina business forum in Buenos Aires on April 25, held on the occasion of National Assembly Chairman Vuong Dinh Hue’s visit to Argentina, Mr. Phuong said Vietnam wants to increase the export of high-quality products to meet needs in the Argentine market, such as textile products, leather and footwear, agricultural and aquatic products, wood and furniture, and construction materials.

Meanwhile, Argentina can continue to export corn and soybeans with stable supply and prices to Vietnam, he said.

He proposed an increase to trade and investment promotion activities, affirming that Vietnam welcomes and provides the best possible conditions to Argentine businesses seeking business and investment opportunities in Vietnam.

Two-way trade has increased strongly, to $4.88 billion in 2022 from only $378 million in 2007, making Argentina the fifth-largest trade partner of Vietnam in the Latin American region and Vietnam the sixth-largest trade partner of Argentina globally.

Regarding investment, Argentina currently has five projects in Vietnam, ranking it 122nd among the 140 countries and territories investing in the country.