Hanoi spurs outbound investment promotion

The delegation was led by Nguyen Manh Quyen, Deputy Chairman of Hanoi People's Committee, and featured Nguyen Anh Duong, director of the Hanoi Investment, Trade and Tourism Promotion Centre.

On October 28, the delegation worked with the Office of the Mayor of San Francisco and held a seminar with agencies and businesses of the State of San Francisco on investment attraction, trade promotion, and tourism development between Hanoi and San Francisco.

On the same day, the delegation visited and worked with the Consulate General of Vietnam in San Francisco.

On the following day, they arrived in Washington City and visited the Vietnamese Embassy in the US.

Through meetings with diplomatic agencies and investor representatives at the aforesaid seminar, the delegation head Nguyen Manh Quyen brought exposure to the supportive and preferential policies of Hanoi, one of Vietnam’s two major growth engines, as well as answered questions from large corporations and enterprises wishing to invest to form a trading system in Hanoi in areas that can benefit both sides.

With the advantage of sustainable investment relationships and amid economy rebound post-pandemic, Hanoi's export value to the US was estimated to reach $3.4 billion in 2021, accounting for 21.5 per cent of Hanoi's total export turnover in 2021, an increase of 25.9 per cent on-year. Meanwhile, Hanoi's import value from the US market reached $1.3 billion in 2021, accounting for 3.7 per cent of Hanoi's total import turnover in 2021, up 23 per cent on-year.

The capital is highly appreciated for its political and social stability, economic potential, and many advantages of rich cultural identity and tourism. Representatives of diplomatic missions and businesses wished to soon establish cooperative relations in investment and trade in order to promote connectivity for sustainable economic development in 2023 and beyond.

On November 2, within the framework of a working visit to Belgium, the delegation visited cattle breeding firm GA Belgimex in the French-speaking Wallonia region.

Belgimex specialises in providing breeders with the 3B (Blanc Blue Belgium) cow breed, also known as the muscle breed.

During the course of the meeting with Deputy Governor and Minister of Economy, Foreign Trade and Agriculture of Wallonia Willy Borus, Vice Chairman Quyen highlighted the hope that Belgimex will continue to support Hanoi city in transferring advanced technology to develop 3B cows in Hanoi in particular, and other provinces in Vietnam in general.

At the cow farm, representatives of Hanoi Livestock Breeding JSC and representatives of Belgimex signed an MoU on continuing cooperation in completing the process of transferring the 3B cattle breed to Vietnam and importing cow embryos in order to improve the cow herd in Hanoi and other provinces of the Red River Delta.

So far, more than 30,000 Vietnamese farmers have been participating in the 3B cow breeding programme, and more than 260,000 F1 calves have been born.

Many farmers have become billionaires by raising this breed thanks to its high economic efficiency. Currently, there are a raft of 3B high-yielding cow farms in Vietnam, totalling 100-200 heads.

On September 19, following Hanoi’s external relation promotion programme in 2022, the Hanoi delegation led by Nguyen Ngoc Tuan, Vice Secretary of Hanoi Party Committee and Chairman of Hanoi People's Council, visited and worked in Ireland.

Then, from October 15 to 20, a high-ranking delegation from Hanoi led by Nguyen Van Phong, Vice Secretary of Hanoi Party Committee, went to Egypt and Greece.

On October 20, the Hanoi delegation had a working session with the Athens city’s government to discuss the promotion of cooperation potential between the two capitals.

Hanoi facilitates investment from Republic of Korea Chairman of Hanoi People’s Committee Tran Sy Thanh has pledged to create all possible conditions for foreign firms, including those from the Republic of Korea, to invest in the city.

Hanoi hosts agro promotion weekend The Hanoi Centre for Investment, Trade, and Tourism Promotion (HPA) ran an event to promote agro products from July 22 to 24, aiming to raise brand awareness and boost consumption.