PM calls on Polish companies to expand investments in Vietnam

Vietnamese Prime Minister Pham Minh Chinh has asked Polish companies to increase their investments in Vietnam, capitalizing on the EU-Vietnam Free Trade Agreement (EVFTA).

The Prime Minister said the two countries have participated in the EU-Vietnam Free Trade Agreement (EVFTA), while making efforts to ratify the EU-Vietnam Investment Protection Agreement (EVIPA) and facilitate Poland's accession to the Treaty of Amity and Cooperation in Southeast Asia (TAC).

He called on businesses from both countries to cash in on these mechanisms to strengthen trade and investment ties.

Chinh noted that Vietnam is developing favorable policies for investors, particularly in high-tech, health care, and sustainable development. The country is also focusing on three strategic breakthroughs: institutional reform, infrastructure development, and human resource improvement.

Regarding Vietnam’s future orientations, Chinh said that country aims to become a developing country with a modern industry and high average income by 2030, and a developed country with high income by 2045. It aims for a growth rate of at least 8% in 2025, with double-digit figures in subsequent years.

Therefore, the country will focus on renewing traditional growth drivers such as investment, export and consumption, while promoting new drivers, especially in sectors with high intellectual content, he noted.

In his speech, Polish Minister of Development and Technology Krzysztof Paszyk stated that Vietnam is Poland's largest partner in the ASEAN region. Poland needs to boost exports to Vietnam, not only industrial products but also agricultural items, he highligted, adding that it can supply all the farm produce that Vietnam requires.

He emphasized that the current investment levels between the two countries remain modest and therefore, there is significant potential for bilateral investment cooperation.

As of December 2024, Poland had recorded 33 projects in Vietnam with a total registered capital of nearly $500 million. Meanwhile, businesses run by Vietnamese and Polish of Vietnamese origin had poured over $300 million into the European country, according to the minister.

In a talk with Chinh on Thursday, Polish Prime Minister Donald Tusk said Poland always considers Vietnam its most important partner in Southeast Asia, and the European country wants to develop cooperation relations with Vietnam in all aspects.

PM Chinh is on an official visit to Poland from January 16-18 at the invitation of his Polish counterpart.