In scope of the official visit of Ms Dang Thi Ngoc Thinh, Vice President of the Socialist Republic of Vietnam to Mongolia, a Mongolia-Vietnam Business Meeting was co-organized by the Embassy of Vietnam, Vietnam Chamber of Commerce and Industry and Mongolian Employers’ Federation today, May 9 at Tuushin Hotel in Ulaanbaatar.
Honorary guests including the Vice President, Vietnamese Deputy Foreign Minister Ha Kim Ngoc, Vietnamese Ambassador to Mongolia Phan Dang Duong, Deputy Foreign Minister B.Battsetseg and Vice President of Mongolian Employers’ Federation Kh.Ganbaatar were in attendance alongside representatives of businesses.
More than 40 Mongolian businesses and over 20 Vietnamese businesses in food, agriculture, light industry, leather industry, drug manufacturing and real estate partook in the meeting which covered government policies on trade and investment, surrounding legal environment and measures taken to boost business.
Customs data from Vietnam shows USD 58 million bilateral trade overturn, with Mongolia importing rice, sugar, canned food and telecommunications equipment worth USD 40 million. Since 1990, 164 Vietnamese entities made investment of USD 32.9 million in Mongolia. Mongolia and Vietnam have established over 20 bilateral agreements in trade, economy and education. Businesses at the meeting agreed on potential opportunities for cooperation in oil, mining and food sectors.
Mongolia-Vietnam Business Meeting was first held in 2013 during President Ts.Elbegdorj’s visit to Vietnam and in 2016 during Vietnamese Prime Minister’s visit to Mongolia. This year, Mongolian-Vietnamese intergovernmental commission meeting will also take place.
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