Tran Phuoc Anh, deputy director of the HCMC Department of External Affairs, shakes hands with Spain’s ambassador to Vietnam, Maria Jesus Figa Palop, at the launch of a Spanish trade office on May 23. Spain’s ambassador to Vietnam and Spanish enterprises have expressed interest in the local HCMC market. (Photo: My Huyen)
The HCMC Economic and Commercial Office, under the Spanish Embassy in Vietnam, on May 23 inaugurated the new office on the seventh floor of the Diamond Plaza building at 34 Le Duan Street in HCMC’s District 1.
Speaking at the event, Spanish Ambassador to Vietnam Maria Jesus Figa Palop said that this marked the third relocation of the office, adding that she was pleased with the new location of the office at the center of the city.
HCMC is the most popular destination for the Spanish community in Vietnam, she said, adding that Spanish firms expected to gain ground in Vietnam and to sound out more business opportunities in the local market.
Over the past few years, Vietnam’s rapid economic growth has attracted many Spanish firms. Multiple well-known brands in Spain have entered the country, such as fashion brand Zara. Besides this, the ambassador also hailed Vietnam as a potential market even though its high competitiveness, complicated procedures and language-related obstacles have hindered Spanish firms from doing business in Vietnam.
Addressing the inauguration ceremony, Tran Phuoc Anh, deputy director of the HCMC Department of External Affairs, said that the Spanish enterprise community in HCMC has been growing recently. The city is creating more favorable conditions for Spanish firms to operate in Vietnam and removing obstacles to cooperation between the two countries’ enterprises.
Bilateral trade revenue amounted to US$3.7 billion in 2018 from US$300 million in 1997, Anh said.
Due to rising Spanish interest in HCMC, Anh also introduced 210 projects being promoted for investment by the city to Spanish firms attending the event.
