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Hungarian firms eye ventures
Hungarian small-and medium-d enterprises were seeking opportunities to establish joint ventures with Vietnamese counterparts and implement business activities by expanding their import-export relations, reported Invest-Element Consulting Company (Invel).
So far, joint ventures from the two countries firms have been co-operating in software development and making use of external resources.
The company outlined banking, insurance and telecommunications as other potential sectors that enterprises might be able to foster bilateral relations.
Invel also encouraged domestic firms to pay adequate attention to product marketing in order to foster their exports in the Hungarian market, which could also act as a bridge for Vietnamese goods to further penetrate the huge markets in Europe. Although bilateral trade between the countries has doubled during the last five years, trade and investment ties are not congruent with the countries potential.
Viet Nam's main export items to Hungary include rice, coffee, processed food, home decoration supplies, wooden products and household electrical appliances.
Hungary primarily exports new drugs, medical equipment, energy equipment and food processing technology to Viet Nam.
These exports would receive a preferential investment environment in Viet Nam, said the Ministry of Industry and Trade.
To date, Hungarian firms have pumped US$42 million into seven projects in Viet Nam.
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