State President receives leaders of major Peruvian businesses

Speaking highly of the remarkable progress and dynamism of Vietnam's economy, they said that the two sides can fully complement each other in striving for a sustainable and prosperous future, and expressed their hope to learn more about the Vietnamese market and seek potential partners for collaboration in areas where both countries have strengths, thereby helping further boost the bilateral economic, trade, and investment relations.

State President Luong Cuong (fifth from right) posing for a photo with leaders of major Peruvian businesses, and Vietnamese officials (Photo: VNA)

Cuong expressed his pleasure at the meeting, saying he believes it will make a positive contribution to the development of bilateral economic and investment relations to a new and better phase.

Recalling the important progress in bilateral cooperation across various fields in recent times, he stated that there still has much room for growth, especially now that both countries have officially become full members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Cuong emphasised that Peru's designation as a "Development Partner" by ASEAN will enhance its presence in Southeast Asia and open up opportunities to boost trade between the Latin American nation and ASEAN member countries. He also expressed his hope that Vietnam will serve as a gateway to connect Peruvian businesses with the ASEAN market of nearly 700 million people.

Based on their recommendations, Cuong shared some ideas for future cooperation between businesses of both sides. He urged Peru to support and facilitate Vietnam's projects, particularly in areas such as digital transformation, digital infrastructure, smart cities, cybersecurity, digital health, and digital education; and to create favourable conditions in the process of finalising the transfer of Vietnam's oil and gas projects to Peru.

The State leader also suggested Peruvian enterprises explore the possibility of collaborating in sectors where Peru has particular strengths and Vietnam also has significant potential, such as mining, organic agriculture, food processing, and tourism.

He urged both sides to continue coordinating in utilising free trade agreements (FTAs) and bilateral and multilateral cooperation mechanisms to which both countries are members, such as APEC, CPTPP, and the Forum for East Asia-Latin America Cooperation (FEALAC).

The President reaffirmed Vietnam's commitment to creating a favourable business and investment environment for foreign investors in general, and for Peruvian companies in particular, to cooperate and invest effectively and sustainably in the country.