Vietnamese envoy calls on Turkey to explore investment opportunities

Vietnamese Ambassador to Turkey Duong Huynh Lap says the economic-commercial relations between the two countries have witnessed good development over the years

Ambassador Lap presented his credentials to Turkey's President Abdullah Gül in early March and wants to increase his embassy's visibility among the Turkish public in a bid to ease the improvement of bilateral relations in social and political fields in addition to economic fields.

“The economic-commercial relations between Vietnam and Turkey over the past years have witnessed fine developments. However, with the great potential of the two sides, particularly in economic-commercial cooperation as well as the shared efforts, especially from businessmen of the two countries, it is my belief that the bilateral trade volume will be rapidly increased in the period of the post-crisis,” Lap said in an interview with Today's Zaman.

The trade volume between the two countries has rapidly increased from $243 million in 2007 to $600 million in 2008. However, these numbers have not fully reflected the potential of the two countries, especially in the investment cooperation field, the ambassador said.

Recalling that at the fourth session of Vietnam-Turkey Joint Economic Committee held in November 2008 the two sides set the target of having a bilateral trade volume amounting to $1 billion by the year 2010, Lap explained that during his talks with some high-ranking Turkish leaders and ministers, everyone expressed optimism about the development of multifaceted cooperation development between Vietnam and Turkey, especially economic and commercial cooperation.

“Turkey is now the 17th biggest economy in the world and Vietnam, with its 86 million people, is a dynamic and effective developing economy bringing a lot of investment opportunities for foreign investors. Despite the fact that the current investment cooperation between Vietnam and Turkey is limited, I myself believe that the bilateral investment picture in the years to come will be much brighter,” Lap said.

“We also call on Turkish groups, corporations and businessmen go to Vietnam to explore cooperation and investment opportunities. The Vietnam Embassy in Ankara is always ready to provide information and support and to facilitate Turkish investors who want to come to Vietnam to do business. At present, the Vietnamese government has policies to encourage Vietnamese investors to invest abroad. Hopefully, Vietnamese investors will find investment opportunities in Turkey,” he added.

The Vietnamese ambassador, meanwhile, recalled that in 2008, in order to deal with negative effects brought by the global economic-financial crisis, the Vietnamese government carried out decisively anti-inflationary measures and implemented packages to stabilize the macroeconomy, prevent economic slowdown and ensure social security.

Will to be a reliable partner in international community
“As a result, the Vietnamese economy has retained a modest growth rate of 6.2 percent. The amount of foreign direct investment [FDI] strongly increased in particular, making a record $62 billion [triple in comparison with 2007], with a capital allocation of more than $11 billion. However, due to the effects of the global economic-financial crisis, the growth rate of Vietnam in 2009 is expected to be 5 percent,” Lap said.

“Vietnam consistently implements its foreign policy of independence, sovereignty, openness, multilateralization and diversification in the spirit [wherein] Vietnam is prepared to be a friend and reliable partner of all countries in the international community, striving for peace, independence and development; proactively and positively taking part in the regional and international integration process. Bearing in mind that spirit, Vietnam has constructively developed peaceful, friendly and cooperative relations with neighboring countries; it has actively participated in solving regional and global issues within the framework of the regional and international organizations and forums.”

Vietnam and Turkey established diplomatic relations in June 1978, and Turkey opened an embassy in Hanoi in December 1997. Vietnam launched its commercial office in İstanbul in October 1999, its consulate general in İstanbul in July 2002 and its embassy in Ankara in October 2003.

The two countries have also had some interaction in the cultural field. The Turkish Embassy in Hanoi gave books to and coordinated with the Vietnam National Library to organize a Book Exhibition in Vietnam in 2007, and soon the Vietnamese Embassy in Ankara is planning to hold a photo exhibition in Turkey on the land and people of Vietnam.

The two countries, which celebrated the 30th anniversary of their diplomatic relations last year, have signed many bilateral cooperation agreements over the last three decades. The agreements include the Agreement on Commercial, Economic and Technical Cooperation, the Agreement on Visa Exemptions for Diplomatic Passports, the Agreement on Cultural, Scientific and Educational Cooperation, the Agreement on Tourism Cooperation and the Agreement on Fighting International Terrorism and Organized Crime.

Recently, Ankara and Hanoi have been engaged in a process of negotiation for the finalization of an agreement on double taxation and an agreement on investment promotion and encouragement.

EMİNE KART  ANKARA