Hanoi seeks to strengthen cooperation with Chilean regions, promote its investment environment, and boost business connections, trade, and tourism.

Chairman of the Hanoi People's Council Nguyen Ngoc Tuan at the conference. Photos: Do Truong

Chairman of the Hanoi People’s Council Nguyen Ngoc Tuan shared this view during the Hanoi-Chile business facilitation conference on August 18, which was part of the Hanoi delegation’s visit to Chile from August 16 to 18.

At the conference, Tuan highlighted the strong and friendly relations between Vietnam and Chile, noting that Chile was the first South American country to establish diplomatic ties with Vietnam. He also expressed gratitude to the Chilean people for their long-standing support during Vietnam's struggle for national liberation and ongoing nation-building efforts.

Regarding Vietnam-Chile trade relations, Tuan emphasized that the Vietnam-Chile Free Trade Agreement (VCFTA), signed on November 11, 2011, and effective from January 1, 2014, has opened up significant opportunities for businesses in both countries to explore and benefit from each other's markets.

The Chairman introduces Vietnamese craft products to Chilean friends.

“The cooperation between Hanoi and Chile, however, remains modest despite the significant potential for growth,” Tuan said.

He reaffirmed that Vietnam, particularly Hanoi, is an attractive, safe, and promising destination for foreign businesses and investors.

Tuan expressed the city's desire to strengthen cooperative ties between Hanoi and Chilean localities, promote Hanoi’s investment environment, foster business connections, and boost investment, trade, and tourism activities.

“Hanoi authorities are committed to creating optimal conditions for businesses to invest and operate successfully in the city,” he continued.

For his part, the Vietnamese Ambassador to Chile Pham Truong Giang noted the positive developments in trade relations between Vietnam and Chile in recent years.

Hanoi's delegates at the conference.

According to Giang, Vietnam is now Chile's fifth-largest trading partner in Asia, after China, Japan, South Korea, and India.

Within ASEAN, Vietnam remains Chile's largest trading partner and the leading exporter to Chile. Meanwhile, Chile is one of Vietnam's top four trading partners in Latin America, along with Brazil, Mexico, and Argentina.

Giang emphasized the importance of promoting and engaging with international markets to capitalize on opportunities arising from global supply chain shifts, investment trends, and the advantages provided by various free trade agreements (FTAs) to which Vietnam is a party.

“This would help enhance the promotion of Hanoi’s investment, business, and tourism environment, strengthen economic cooperation, and particularly boost tourism and investment attraction efforts with Chile and the broader South American region,” Giang said.