Vietnam-Armenia Business Forum held as part of National Assembly Chairman's visit to Armenia

As part of his official visit to Armenia, Chairman of the National Assembly (NA) Tran Thanh Man and the high-level delegation of the NA attended the Vietnam-Armenia Business Forum in  Yerevan, the capital of Armenia, on April 2 (local time).

Addressing the forum, the NA Chairman stated that Vietnam and Armenia have open economies where exports play a crucial role, and both possess the capacity to adapt to international trade principles.

To fully leverage the potential for cooperation, he outlined specific directions for businesses from both countries to consider.

Regarding information technology and digital transformation, Armenia is known as a "Silicon Valley" of the region with a strongly developing IT sector. Meanwhile, Vietnam is also promoting digital transformation across all sectors. Therefore, the NA Chairman encouraged businesses from both sides to cooperate in developing software, artificial intelligence (AI), and technological solutions for education, healthcare, and smart city management.

Regarding agriculture and food processing, according to the NA Chairman, Vietnam can supply tropical agricultural products such as coffee, cashew nuts, and seafood, while Armenia can share its expertise in processing high-quality agricultural products, especially wine and dried fruits.

Regarding renewable energy, he proposed that businesses from both sides jointly research and invest in projects for solar, wind, and small hydropower, leveraging Armenia's advanced technology and Vietnam's abundant resources.

To enhance deeply and comprehensively the cooperation between the business communities of the two countries, with a focus on investment and trade, the NA Chairman made the following proposals:

First, both sides should actively create opportunities for Vietnamese and Armenian businesses to regularly exchange, seek, and capitalize on cooperation and investment opportunities, especially in fields with high potential and demand.

Second, the two countries need to increase the exchange of delegations at all levels, especially high-level ones, to strengthen political trust and promote cooperation in potential areas.

Third, competent authorities should facilitiate businesses cooperate deeply and comprehensively, enhance competitiveness, jointly tap into each other's markets and regional ones, and participate more deeply in regional and global value and production chains.

Fourth,  both governments are urged to continue efforts to improve the investment and business environment, creating maximum favorable conditions for businesses of two sides to enhance cooperation and successfully implement investment and business activities, in accordance with legal regulations.

Fifth, the business communities of both countries should support each other in tapping into their respective markets, as well as expanding into the ASEAN and Central Asian regional markets.