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First steps to intensify Romanian-Vietnamese collaboration: signing two Memoranda of Understanding between the Ministry for Business Environment, Commerce and Entrepreneurship and the Vietnamese Ministry for Planning and Investment



Minister Ștefan Radu Oprea continues the series of discussions on intensifying bilateral economic and trade cooperation and increasing the volume of investment in the two economies during his visit to the Socialist Republic of Vietnam.

Today, the Romanian Minister for Business Environment, Commerce and Entrepreneurship was received by the Prime Minister of the Socialist Republic of Vietnam, Nguyen Xuan Phuc, and had bilateral meetings with Nguyen Van Binh’s, the Governming Party’s Secretary for Economic Affairs, and with the Minister for Planning and Investment, Nguyen Chi Dung.

Dduring their the meeting, the two ministers, Ștefan Radu Oprea and Nguyen Chi Dung, signed two Memoranda of Understanding between the Ministry for Business Environment, Commerce and Entrepreneurship and the Ministry for Planning and Investments, in the field of investment promotion and SMEs.

“The documents signed today are the foundation for future economic cooperation. Thus, we created the institutional framework for materializing many opportunities for collaboration between the business environments in our countries; in order to put such opportunities into practice, we also need the involvement of the political factors in Romania and the Socialist Republic of Vietnam. I invite you to analyze the measures taken by the Romanian government to develop a solid and competitive entrepreneurial ecosystem in where foreign investors find an attractive and varied business platform”, Minister Oprea said.

During the talks, the representatives of the Vietnamese Government appreciated the economic performance of the Romanian Government, especially the 7% growth recorded last year, as well as the level of bilateral relation with Romania, expressing the desire to intensify bilateral efforts to increase the economic and trade dimensions thereof.

In this respect, their intention to achieve, in the shortest possible time, the main objective of the cooperation between the two states was reiterated, namely to increase the volume of trade from USD 200 million -currently recorded – to USD 500 million.

In this context, opportunities for collaboration in areas with high technical potential, such as the Industry 4.0 concept, robotics and IT benefited from a detailed analysis, along with the development of cooperation in areas where Romania is internationally recognized for the highly skilled workforce, such as the hydrocarbon field and the related extraction and processing technologies.

Ministry for Business Environment, Commerce and Entrepreneurship

Press Office

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