Deputy Minister Nguyen Hoang Long attends Vietnam - Venezuela Business Forum

The forum brought together nearly 100 delegates representing government ministries and agencies, trade promotion organizations, chambers of commerce, business associations, and a large number of enterprises from both countries operating across a wide range of sectors, including energy, oil and gas, agriculture, telecommunications, logistics, construction materials, chemicals, manufacturing, and trade.

In his opening remarks, Venezuelan Minister of Foreign Trade Johann Álvarez Márquez reaffirmed that the Venezuelan Government attaches great importance to strengthening economic relations with Vietnam. He expressed confidence that both sides would establish direct and effective channels connecting their business communities, transforming traditional trade ties into a long-term strategic partnership.

Representing Vietnam, Minister of Foreign Affairs Le Hoai Trung highlighted the longstanding friendship between the two countries. He noted that, as one of the world's 20 largest trading nations and among the top 15 destinations for foreign direct investment, Vietnam stands ready to promote bilateral trade and encourage Vietnamese enterprises in key sectors to explore sustainable investment and cooperation opportunities in Venezuela. He also emphasized Vietnam's role as a gateway for Venezuela to access the network of 17 free trade agreements (FTAs) that Vietnam has signed and is implementing with major economies around the world.

During the forum, participants viewed a comprehensive video presentation on Vietnam's economy, prepared by the Vietnam Trade Office in Venezuela. The presentation offered delegates a first-hand look at a dynamic and rapidly advancing Vietnam, featuring a stable macroeconomic environment, one of the region's strongest growth performances, outstanding manufacturing and export capabilities across key industries, and a modern, well-integrated logistics infrastructure.

In addition, Duong Quang, Representative of the Vietnam Trade Office in Venezuela, delivered a detailed presentation on Vietnam's trade cooperation potential and investment incentives. He highlighted the country's foreign investment attraction policies and transparent, secure, and business-friendly environment, enabling Venezuelan partners to gain a clearer understanding of Vietnam's robust manufacturing and export capabilities while opening up new opportunities for long-term strategic cooperation and deeper investment.

Deputy Minister Nguyen Hoang Long's participation in the Vietnam - Venezuela Business Forum underscored the Ministry of Industry and Trade's proactive role in shaping strategic directions, removing barriers, and paving the way for key industries. It also reflected the Ministry's close partnership with the business community in both countries in translating trade and investment opportunities into sustainable cooperation, while demonstrating the Vietnamese Government's strong commitment to supporting enterprises.

In his closing remarks, Venezuelan Vice President for Economy and Finance Calixto Ortega stressed that Venezuela's investment environment is undergoing significant transformation as the country enters a new phase of economic development. He noted that Venezuela is working to restore its productive capacity, strengthen institutional frameworks, normalize international and financial relations, and attract investment to support sustainable economic growth.

Vice President Ortega emphasized that Vietnamese investors are presented with a unique opportunity to establish strong partnerships at this pivotal moment in a country endowed with exceptional potential. He affirmed that the Venezuelan Government will provide the most favorable conditions for Vietnamese enterprises to successfully implement investment projects in Venezuela.

At the Vietnam - Venezuela Business Forum, both sides agreed to convene the fourth session of the Vietnam - Venezuela Intergovernmental Committee in Caracas this October. The meeting aims to establish a long-term cooperation mechanism to strengthen productive sectors, enhance coordination between government agencies, and identify highly feasible projects, thereby translating the two countries' strong political relationship into tangible economic cooperation that delivers practical benefits to businesses and the people of both nations.