Six Irish companies operating in the fields of construction, architecture, engineering and consultancy, together with Vietnamese companies, attended the third Vietnam - Ireland Business Forum (VIBF) held recently in Hanoi by the Vietnam Chamber of Commerce and Industry (VCCI), the Enterprise Ireland - Irish Trade and Technology Development Agency, and the Ireland Business Association.
Madame Maeve Collins, Irish Ambassador to Vietnam, said: “This forum is an important event and is designed for Vietnamese and Irish construction consulting companies to share experience and expand business relations and partnerships – elements that will strengthen economic relations between Vietnam and Ireland. We expect more similar events between Ireland and Vietnam in the coming years to witness the growing links that connect the peoples and enterprises of the two countries.”
Mr Pham Gia Tuc, Vice President and General Secretary of VCCI, said: Irish visitors are big businesses and they have managed to maintain stability and growth despite the crisis. With their strengths in construction, architecture and engineering, Irish companies will bring cooperative potentials and opportunities for Vietnamese enterprises in the coming time.
The bilateral trade turnover has been so far incommensurate with the potential of the two countries. According to the Central Statistics Office of Ireland (CSO), Ireland's exports to Vietnam in 2009 rose 8 percent from 2008. As of October 2010, the two-way trade revenue tumbled because of a drop in Ireland’s food exports. Optimistically, its pharmaceutical, petrochemical and machine exports maintained stable growth.
Vietnam’s major exports to Ireland include seafood, vegetable, coffee, tea, furniture, fabrics, textiles, electronic components, footwear and processed products. According to CSO, Vietnam’s exports to Ireland declined 19 percent year on year in 2009 as the crisis forced Ireland to cut imports of furniture, clothing, footwear and tourist products. Nonetheless, the situation improved from October 2010.
Mr Tuc said, to boost economic, commercial and investing cooperation, companies of the two nations need to accelerate information exchange to open up long-term cooperative ties.
According to VCCI, the VIBF established and functioned as a bridge to connect Vietnamese and Irish enterprises, formulate business partnerships, and promote the transfer of new technologies and products to Vietnam and neighbouring countries.
The inaugural VIBF was held in Hanoi in November 2009 with the participation of eight Irish companies. This event opened up opportunities for Irish companies to follow discussions with potential Vietnamese enterprises to formulate long-term cooperative relations.
The second VIBF was opened in Ho Chi Minh City in April 2010. Six Irish ICT companies joined this forum and a number of cooperation agreements were signed by companies of the two nations.
In November 2010, within the framework of VIBF, Irish lecturers joined management training programmes to teach intermediate and senior managerial officials for Vietnamese companies. The upcoming like programme is in the pipeline.
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This forum is among the activities of the Irish Aid Development Experience and Sharing Programme (IDEAS) to Vietnam in response to the request from the Vietnamese Government for methods of sharing Ireland’s socioeconomic development lessons.
According to Madame Maeve Collins, the IDEAS programme has supported the MBA scholarship programme and the like by granting scholarships to 10 Vietnamese students to study in the UCD Michael Smurfit Graduate Business School, and visits of senior Vietnamese officials to Dublin, with the most recent being the visit of Mr Cao Viet Sinh, Deputy Minister of Planning and Investment. The programme has also funded Irish and Vietnamese institutions involved in forecasting and analysis, as well as public finance management.
Ms Maeve Collins noted that a strong relationship has been established by the Irish Business Association and VCCI where Vietnamese and Irish companies can meet and create opportunities for bilateral cooperation.
Quynh Chi