Hungarian businesses seek investment opportunities in Vietnam
On the occasion of Hungarian Prime Minister Viktor Orban’s recent visit to Vietnam, the Vietnam-Hungary Business Forum took place in Hanoi to enhance investment opportunities for both nations.
Addressing the event, Pham Thi Thu Hang, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI), highlighted the thriving trade ties between the two countries, with total two-way trade in 2016 reaching 266 million USD, up 35.7 percent. 
At the forum
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Of the figure, Vietnam’s export to Hungary hit 93 million USD, representing an increase of 41 percent. In the first four months of this year, the bilateral trade was 104.4 million USD, a rise of 8.3 percent against the same period last year. Vietnam’s export to Hungary stood at nearly 50.6 million USD, up 102 percent, and its import was 53.8 million USD, up 69 percent.
However, Vietnam just ships computers, electronics, means of transportation, spare parts, garments-textiles and footwear to the European country.
The participating Hungarian enterprises operate in agricultural services, mechanics in service of agriculture, food processing, industrial waste treatment, heavy and light industries, health care, IT, banking, architecture and construction materials and household utensil production.
Jamniczky Zsolt, a representative of E.ON Company, Hungary’s leading energy provider, said his company wants to study the Vietnamese market to invest in energy and energy equipment, especially solar power.
Some Hungarian firms said they are seeking skillful and blue-collar labourers to work in Hungary. Vietnamese and Hungarian businesses had a chance to step up their cooperation in such areas as information-technology and high-tech agriculture.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years