Investment opportunities in Vietnam

Vietnamese business delegation in Luxembourg

An official business delegation from Hanoi (Vietnam), led by Mr. Nguyen Hong Son, Member of the National Assembly and Chairman of the Hanoi Business Association (HBA), was received at the Luxembourg Chamber of Commerce on September 11th, 2009. The delegation included officials from the HBA, the Hanoi Trade Promotion Centre and the Vietnam Embassy as well as 15 company representatives from various sectors: steel production, real estate, international trade, electricity production, IT, chemicals, civil engineering and construction.

The objective of the Vietnamese trade mission to Luxembourg was to strengthen the ties between Vietnam and Luxembourg, as well as to present investment opportunities in Vietnam and to find business partners in Luxembourg in order to increase bilateral trade. Diplomatic relations between Vietnam and Luxembourg have been established in 1973. Since 1994, the Chamber of Commerce has organised, together with the Ministry of the Economy and Foreign Trade, 4 trade missions to Vietnam. With exports from Luxembourg to Vietnam amounting to 6 million EUR in 2008 and imports from Vietnam reaching only 288 000 EUR in 2008, there remains a lot of room for improvement.

However these figures, which have remained rather modest over the last decades, do not give a complete impression of the bilateral relations.  In fact, several Luxembourg companies have managed to seize opportunities in the fast growing Vietnamese market.

The Luxembourg based steel giant, ArcelorMittal is present in Vietnam since 1994 with a representative office in Ho Chi Minh Ville. Over the years ArcelorMittal has supplied a variety of steel products to the Vietnamese market and participated in a number of prestigious projects.

Cargolux, Europe’s largest all cargo carrier operates 2 weekly flights to Ho Chi Minh Ville.

In the framework of Vietnam’s first major public satellite project VINASAT, with Lockheed Martin Commercial Space Systems (LMCSS) as the main contractor, SES Astra TechCom, partnering with HITEC Luxembourg, delivered two satellite antenna systems in Vietnam. In parallel, training was provided for the future VINASAT satellite engineers and technicians in Hanoi and Luxembourg. These sessions were co-financed by the Luxembourg Development Cooperation.

Dometic distributes cold chains and solutions for medical refrigeration through representative offices in Hanoi and Ho Chi Minh Ville.

ATTF, the Financial Technology Transfer Agency, has provided training for the Vietnamese banking and financial sector since 2001.

If you want to receive further information about the Vietnamese Delegation and business opportunities in Vietnam, please do not hesitate to contact the International Department of the Chamber of Commerce.
T.: (+352) 42 39 39- 333
E-mail: international@cc.lu