On November 27th afternoon, the Ho Chi Minh City Center for Trade and Investment Promotion (ITPC) and the Bulgarian Small and Medium Enterprises Support Center organized the Vietnam-Bulgaria Business Forum. The event attracted the participation of nearly 250 Vietnamese and Bulgarian businesses, with the attendance of the President of the Republic of Bulgaria, Rumen Radev.
In his opening remarks, Vice Chairman of the Ho Chi Minh City People’s Committee, Vo Van Hoan emphasized, “As the country’s largest economic, scientific, and innovation hub, Ho Chi Minh City always welcomes international investors, including those from Bulgaria.”
Ho Chi Minh City has a population of over 10 million, a young and dynamic workforce, and an increasingly完善ed economic and social infrastructure.
With its modern seaports, international airports, and expanded transportation network, the city has become a vital gateway connecting Vietnam to other countries in Southeast Asia and the world.
The Vice Chairman noted that Ho Chi Minh City is currently striving to reform administrative procedures, digitize public services, and develop a startup ecosystem. These solutions have helped the city maintain its leading position in attracting foreign direct investment (FDI) in the country.
The city also focuses on sustainable development, with four key industries: information technology, electronics, mechanics, and food processing. It also emphasizes high-tech agriculture, renewable energy, healthcare, education, and financial technology (fintech).
Bulgaria, on the other hand, has strong capabilities in areas such as information technology, organic agriculture, medicine, and renewable energy – sectors in which Ho Chi Minh City has a particular interest and desires to cooperate and learn from.
“Ho Chi Minh City is also the country’s largest innovation hub, home to thousands of businesses in technology and smart solutions. The government has chosen the city as the site for Vietnam’s international financial center. These present significant opportunities for Bulgarian businesses interested in investing in and collaborating in these advanced fields,” said Mr. Hoan.
In return, the President of the Republic of Bulgaria, Rumen Radev, stated that Vietnam is an important partner for Bulgaria in Asia. By attending this forum, he believed Bulgarian businesses would have the chance to meet and forge long-lasting partnerships with their Vietnamese counterparts, especially in infrastructure development, logistics, and maritime affairs. Additionally, the two countries could strengthen their cooperation in the digital transformation and information technology sectors.
“Regarding high technology, Bulgaria is home to world-leading companies specializing in cloud data construction, storage, exploitation, and protection. This aligns well with Vietnam’s and Ho Chi Minh City’s strategy to attract investment in this field,” emphasized President Rumen Radev.
Bulgarian businesses also expressed their interest in further investing in export processing zones, industrial parks, highways, and the food processing industry in Ho Chi Minh City. Notably, they aim to not only produce food products in Vietnam but also supply them back to Bulgaria.
According to the Ho Chi Minh City Department of Planning and Investment, 125 countries and territories are investing in the city. As of October 30, 2024, there were 13,391 valid foreign investment projects in the city, with a total investment capital of more than 58.39 billion USD, including new and increased capital.
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