Vietnam President calls for increased Belgian investment

President Luong Cuong on Tuesday encouraged Belgian companies to ramp up their investments in Vietnam, particularly in areas where Belgium has strengths, such as high technology, renewable energy, digital transformation, and strategic infrastructure.

At a meeting with King Philippe of Belgium following the state welcome ceremony for the guest at the Presidential Palace, he urged Belgium to quickly ratify the EU-Vietnam Investment Protection Agreement (EVIPA) to promote balanced and mutually beneficial investment relations between businesses from both countries.

He also proposed that Belgium advocate for the European Commission (EC) to soon lift the “yellow card” regarding the Illegal, Unreported, and Unregulated (IUU) fishing on Vietnam’s seafood exports.

King Philippe expressed his desire for Belgian companies in wastewater treatment, energy, and rare mineral mining to engage in business and investment activities in Vietnam.

At the meeting, the two leaders discussed key cooperation directions to deepen and enhance the Vietnam-Belgium traditional friendship in a substantial and effective manner.

Regarding economy-trade, an important pillar in Vietnam-Belgium relations, the two leaders agreed to continue effectively implementing the EU-Vietnam Free Trade Agreement (EVFTA).

They emphasized the importance of implementing the strategic partnership framework on agriculture by developing circular and smart agriculture models, and enhancing technology transfer between research institutions and training programs on agriculture, forestry, and fisheries. This cooperation contributes to Vietnam’s efforts to combat climate change, particularly in the Mekong Delta.

They agreed to explore the development of an agricultural cooperation program between Vietnam and Belgium’s regions.

The two sides also consented to promote cooperation in key areas such as agriculture, education and training, culture and tourism, defense and security, science and technology, local cooperation; and extend collaboration into other potential sectors, such as green technology, artificial intelligence, innovation, high technology, startup ecosystem, and high-quality workforce training, especially in the semiconductor industry.

After the meeting, the two leaders witnessed the exchange of several cooperation documents in areas such as culture, trade, climate change, and support for Agent Orange (AO) victims.

At the end of 2024, Belgium had 100 investment projects in Vietnam with a total registered capital of $1.1 billion, focusing on maritime transport, logistics services, and renewable energy.

Belgium now ranks 23rd among 139 countries and territories investing in Vietnam, and sixth among the 27 EU member countries with investments in the Southeast Asian country.