Bulgarian-Vietnamese Business Forum Reveals New Economic Horizons

A large-scale forum, organized on the initiative of the Vietnamese Embassy in Sofia, brought together over 160 companies from both countries to deepen trade and economic relations. The event, held in the halls of the Bulgarian Chamber of Commerce and Industry, attracted high-ranking representatives of the state administration, diplomatic circles, and business communities.

BCCI Chairman Tsvetan Simeonov emphasized the existing opportunities for expanding partnership, focusing on promising sectors such as tourism, agricultural machinery, and cosmetic industry. Simeonov noted the trend of moving European productions to Vietnam as evidence of the reliability of Vietnamese business partners.

Ambassador Nguyen Thi Minh Nguyet highlighted the long-standing relations built on mutual trust and emphasized the importance of economic growth and administrative reforms in Vietnam. The diplomat presented the Vietnamese market as a gateway to Southeast Asia and a potential partner for Bulgarian companies.

Deputy Minister Nikolay Pavlov defined Vietnam as a traditional and important partner, pointing to numerous high-level bilateral visits, including the presidential visit by Rumen Radev in 2024. Priority areas for cooperation included information technologies, innovations, green transition, and high-tech agriculture.

Deputy Minister Doncho Barbalov presented the positive dynamics in economic relations, reporting that the trade turnover between the two countries in 2024 reaches 292 million dollars, representing a growth of 33.5 percent compared to the previous year.

Head of the Trade Section at the Vietnamese Embassy Nguyen Tan Hai revealed details of trade exchange, noting that Bulgaria mainly exports grain products, medicines, and inorganic chemicals, while Vietnam offers furniture, spices, and metallurgical products.

Julian Balchev from the Bulgarian Investment Agency presented the country's tax advantages, highlighting the 10 percent corporate tax and favorable investment environment as attractive factors for foreign investors.

The forum covered a wide range of topics, including opportunities for arbitration cooperation, tourism exchange, labor import, and working conditions. Additionally, an exhibition of Vietnamese food products was organized, providing an opportunity for direct trade contacts.

Participants unanimously assessed the event as an extremely successful platform for deepening bilateral economic relations, with expectations for future expansion of cooperation between Bulgaria and Vietnam.