Deputy Prime Minister and Foreign Minister Pham Binh Minh reaffirmed the Vietnamese government’s commitment to welcoming foreign investors, including those from Spain, with all possible support at the opening of the Viet Nam-Spain business forum in Madrid on Wednesday.

Highlighting Viet Nam as a bright spot in terms of investment attraction and tourism, Minh said the country has so far lured nearly US$300 billion in foreign direct investment (FDI), $154 billion of which has been disbursed.

The number of tourist arrivals in the country has surpassed a record 10 million thanks to political security, investment and a stable economic policy.

A representative from the Spanish government described Viet Nam as a priority market, particularly in the fields of infrastructure, railways, seaports, agriculture and tourism, and pledged to facilitate collaboration between the two nations’ businesses.

Deputy Minister of Planning and Investment Nguyen Van Hieu introduced Viet Nam’s preferential investment policies while Deputy Minister of Industry and Trade Cao Quoc Hung talked about business opportunities with Spanish enterprises.

The two officials had direct meetings with Spanish firms operating in wind and solar power, the construction of airports and seaports, water treatment, and waste and plastic treatment. The firms expressed their wish to travel to Viet Nam to learn about specific projects.

On the occasion, Minh also witnessed the signing of agreements between Vietnamese and Spanish firms in infrastructure design consultancy.

As part of celebrations for the 40th anniversary of bilateral diplomatic ties, the forum was co-organised by the Vietnamese ministries of Foreign Affairs, Planning and Investment, Industry and Trade; the Viet Nam Chamber of Commerce and Industry; the Vietnamese embassy in Spain; the Spanish Ministry of Economy, Industry and Competitiveness; and the Spain Chamber of Commerce and Industry, attracting nearly 200 officials and businesses from the two nations.

At a meeting earlier the same day, Minh and Spanish Minister and Secretary of State for Trade Maria Luisa Poncela promised to lift two-way trade to 5 billion euros by 2020 by increasing partnerships across transport infrastructure, renewable energy, environment, ecological agriculture and tourism.

Minh witnessed the signing of a co-operation agreement between the two governments on the establishment of a Viet Nam-Spain Trade and Investment Inter-Committee, and a deal on the fifth stage of the financial plan on providing financial support for the construction of metro line No.5 in Viet Nam. — VNS