Vietnam, Belgium boost economic ties

Belgian Prince Philippe, accompanied by executives from 200 businesses, arrived in Vietnam for a weekly visit to promote trade and economic linkages between the two countries.

Belgian Crown Prince Philippe, accompanied by executives from 200 businesses, arrived in Vietnam on March 11 for a weekly visit to promote trade and economic linkages between the two countries.

Belgian Prince Philippe and Princess Mathilde in Vietnam

The Belgium businesses are engaged in a wide range of fields, including water and waste management, transport, port, logistics, space technology and agriculture.

The Belgian firms, especially export ones, are interested in middle-income developing markets like Vietnam, Belgian Minister of Economy, Benoit Cerexhe, told a press conference in Hanoi the same day.

At present, import-export turnover between businesses of Belgium and Vietnam in general and between the Brussels region and Vietnam in particular remains modest, he said, expressing hope that the two countries’ trade will grow robustly following the visit.

In 2011, two-way trade between Vietnam and Belgium reached about US$1 billion. Belgium’s foreign direct investment in Vietnam is estimated at about US$108 million and its businesspeople are very keen on increasing their operations.

Flanders’ Minister of Economy Kris Peeters said the visit will help Belgian firms share experience with Vietnamese partners in various fields, especially in transport development, logistics and ports, water and waste water treatment, food and agricultural technology and aquaculture and health services.

During the visit which will last till March 16, the Belgian businesspeople are scheduled to take part in workshops, make a fact-finding tour of some Vietnamese localities and sign 13 memoranda of understanding with Vietnamese partners.