From 2 to 6 of May 2023, the Luxembourg Chamber of Commerce, in close collaboration with the Ministry of State, the Ministry for Small and Medium Sized Enterprises and Tourism, the Embassy of Luxembourg to Vietnam and Beluxcham, organised an official mission to Vietnam headed by Prime Minister Xavier Bettel and led by Minister Lex Delles and Fernand Ernster, President of the Chamber of Commerce. This Official Trade Mission on the occasion of 50 years of bilateral diplomatic relations is a testimonial of our commitment to further strengthen Vietnam-Luxembourg economic ties. A great achievement to celebrate is the 2020 Free Trade Agreement between the EU and Vietnam that gives opportunities to businesses by eliminating 99% of all tariffs and opening-up services and public procurement markets.
The commercial delegation, led by the Luxembourg Chamber of Commerce, was composed of 23 companies from a variety of sectors, primarily from logistics, smart construction, digital and green economy, and health tech.
The aim of this mission was to demonstrate to participating companies the upcoming opportunities that the Vietnamese market offers and to foster stronger bonds of friendship.
On the first day, the Luxembourg companies had an intense programme in Ho Chi Minh City, Vietnam's economic and financial centre. It started with a kick-off event in the presence of the Chamber of Commerce, BeLuxCham in Vietnam and EuroCham, followed by tailored B2B meetings with 50 Vietnamese companies.
In preparation of the signing of an MOU, President Fernand Ernster and Director International Affairs Cindy Tereba visited the Vietnam Chamber of Commerce and Industry (VCCI) in Ho Chi Minh City to discuss areas of cooperation. Both chambers highlighted the digital and ecological transition as major challenges for their companies, from which many opportunities for bilateral cooperation can arise.
The second day began with the official Vietnam-Luxembourg Business Forum. The event united more than 200 participants from Luxembourg and Vietnam that have been welcomed by Prime Minister Bettel, Nguyen Hong Dien, Minister of Industry and Trade of Vietnam, Minister Delles, Vice Chairman of HCMC’ People Committee Vo Van Hoan and President Ernster. With a large number of small and medium-sized enterprises in both countries, the two nations have favourable conditions to boost their cooperation.
Cindy Tereba, Director International Affairs, gave a presentation with an overview of the Luxembourg dynamic ecosystem and its strategic location, followed by the prospects and economic outlook of Vietnam, shared by Vice Chairman of VCCI Vo Tan Than. This is a characteristic that both countries share: the land of the “Ascending Dragon” is ideally located at the centre of the ASEAN Region and is also called the Golden Gateway to Southeast Asia. Vietnam wants to cooperate with Luxembourg in various fields, including services, green finance, climate change adaptation and human resource training in tourism.
The prospects of cooperation between two countries have been highlighted in the MoU signed between the Chamber of Commerce and Industry of Vietnam and the Luxembourg Chamber of Commerce. A second MoU regarding the first sustainability focused affordable real estate fund in Vietnam structured via Luxembourg was signed between Atra Capital, Delio Management Capital and EZ Land Vietnam.
Bilateral Cooperation in logistics between Luxembourg and Vietnam achieved through top class Supply Chains was the subject of the roundtable moderated by Malik Zeniti, Director of the Luxembourg Cluster for Logistics. Representatives of B Medical Systems, 2 Point 0, Cargolux and ITL Vietnam Corporation joined the panel.
After the official lunch reception, the Luxembourg business delegation visited the Indo Trans Logistics company, which holds the green Freight Asia Leaf Label and that is member of the cold chain industry supply chain. Participants of the mission had a chance to have a discussion with the company on the ITL’s Long Binh Port and ICD Song Than Warehouse.
The second day was festively ended with a Banquet hosted at the Independence Palace in Ho Chi Minh City.
On the last day, the business community headed to Binh Duong Province. After the visit of the International Hospital, the delegation was warmly welcomed in the World Trade Center by Pham Ngoc Thuan, CEO, and the directors of Becamex, Vietnam's leading industrial and urban real estate developer. A site tour to the Eastern International University, aiming to become a scientific research hub for technology transfers and the Advanced Manufacturing Center concluded this very enriching mission to Vietnam, which besides being a commercial success, confirms the growing interest of Luxembourg companies in the land of new opportunities. The way for new partnerships has been paved.