Vietnam’s foreign invested enterprises association explores Iranian collaboration

The Vietnam Association of Foreign Invested Enterprises (VAFIE) and Iranian Commercial Attache to Vietnam Mohsen Rezaei Pour discussed mutual investment opportunities at a Thursday meeting in Hanoi.

The Iranian diplomat invited the VAFIE to send a delegation to Iran Expo 2024, the sixth edition of Iran’s biggest annual fair, held April 27-May 1 in Tehran.

He said the event would focus mainly on six sectors: food, agriculture and aquaculture; industry; handmade furniture and other items; medicine, medical items and chemical products; construction and technical services; and petrochemicals.

The event is expected to attract over 3,000 investors and entrepreneurs from 119 countries and territories, Pour said.

Accepting the invitation, VAFIE chairman Nguyen Mai said he hoped that the delegation would reap fruitful results and find new trade partners in Iran.

The VAFIE is confident that Iranian businesses’ strong capacities can help elevate Vietnam-Iran trade and investment cooperation, he added.

Noting that the VAFIE would soon release its annual report on FDI in Vietnam (2023), he said Vietnam sought foreign investment in high technology, semiconductors, education, healthcare.

The association looks forward to collaborating with Iranian firms in the above-mentioned areas, Mai said. He also noted that Vietnam’s high reserves of rare earths was an advantage for high-tech industries.

Mohsen Rezaei Pour said that during Vietnamese National Assembly Chairman Vuong Dinh Hue’s visit to Iran in 2023, several businesses sought cooperation in battery production.

Mai responded that Vietnamese conglomerate Vingroup was producing battery for electric vehicles at a factory in the central province of Ha Tinh and proposed that the Iranian embassy visits the factory soon.