Bulgarian Businesses Explore Opportunities in Vinh Phuc Province

Mr. Tran Duy Dong, Chairman of the Provincial People's Committee of Vinh Phuc, recently hosted a working meeting with the Bulgarian business delegation led by Mr. Boyko Takow, Executive Director of the Bulgarian Small and Medium-Sized Enterprises Agency, to explore investment and business opportunities in the province.

Chairman of the Provincial People's Committee Tran Duy Dong addresses the working session with the Bulgarian business delegation

At the meeting, he said that Vinh Phuc province has a developed economy, with the scale ranked 15th out of 63 provinces and cities and the annual average growth of 13%. Its human development indicator and per capita income level are ranked Top 10 nationwide. In recent years, the province has paid great attention to attracting investment, especially foreign investment projects. Currently, the locality has about 470 FDI projects from 20 countries and territories to invest in many fields, including two giant manufacturers - Toyota Vietnam and Honda Vietnam, making important contributions to local socioeconomic development. Particularly for Bulgaria, Vinh Phuc signed a memorandum of understanding (MoU) on establishment of friendly cooperation relations with Pernik province in September 2023, thus opening up many cooperation opportunities in various fields between the two localities.

Vinh Phuc has four strong advantages to draw investment fund, including a favorable geographical location and a developed transportation system; a developed education system that meets the demand for high-quality human resources; a favorable investment and business environment; and a synchronous modern industrial park infrastructure ready to serve investors and attract high-tech, semiconductor, health and education investment projects. Vinh Phuc province will cooperate with Bulgarian businesses in health and high-quality human resources, Dong emphasized.

Expressing gratitude to the provincial leaders for their warm welcome, Mr. Boyko Takow conveyed that his delegation was honored to accompany Bulgarian President Rumen Radev and First Lady Desislava Radeva on their official visit to Vietnam from November 24 to 28, at the invitation of President Luong Cuong. In particular, visiting companies are currently engaged in healthcare, science and technology, information and communication, tourism, finance, electronics, aviation and space equipment manufacturing, energy, food and other industries. Boyko Takow hoped that Vinh Phuc province will soon establish a working group to visit Bulgaria and have working sessions with investors.

Also during the working session, Tran Duy Dong provided Bulgarian businesses with detailed information on investment costs, the province's strengths in training skilled labor, and policies for attracting investment, including tax and land rental incentives, as well as preferential policies for high-tech, semiconductor, health and education projects.

Bulgaria is one of the first countries to establish diplomatic relations with Vietnam in 1950. The two countries have traditional and extremely important cooperation in education and training. Bulgaria has trained about 3,600 scientists and about 30,000 high-tech workers for Vietnam.

By Nguyen mai, Vietnam Business Forum