Poland-Vietnam Business Forum opens

(VOV) – The Polish Government will offer US$2 billion worth of credit loans at a low interest rate across 10 years through Vietnamese banks to help domestic businesses which have established relations with Polish partners.

The information was released at a Poland-Vietnam Business Forum held in Hanoi on September 23 by the Vietnam Chamber of Commerce and Industry (VCCI) and the Poland Chamber of Commerce and the Polish embassy.

Thirty leading Polish businesses in energy, shipbuilding, food production, pharmacy, machinery and banking attended the forum to seek business and investment opportunity in Vietnam.

Speaking at the forum, Polish Deputy Minister of Economy Rafal Baniak said Poland is keen to become a significant trade and investment partner with Vietnam. The Polish Government agreed to provide US$2 billion worth of credit loans to Vietnam at a low interest rate over 10 years to support Vietnamese businesses. This is a good opportunity for businesses from both countries to boost cooperation in the future.

Two-way trade turnover between Vietnam and Poland reached US$620 million in 2010, up 18 percent compared to 2009. Vietnam’s exports to Poland have steadily increased by 20 percent annually.

Poland has had 8 projects in Vietnam with a committed capitalisation of nearly US$100 million, of which nearly US$42 million have been implemented.

However, trade relations have not matched with potential, making the forum a good opportunity for businesses from both countries to boost mutual cooperation.

Phan Thi Thu Hang, VCCI General Secretary, said Vietnam and Poland have organised business forums to provide information on economic development and the potential for businesses.

In the first half of this year, Vietnam exported goods worth US$348 million to Poland, representing an increase of 46 percent, while US$25 million was imported from Poland, an increase of 6.7 percent. Poland is currently the leading partner of Vietnam in Eastern Europe.

Tags: Poland-Vietnam Business Forum