Meeting Vietnamese – Mongolian businesses

On April 24, in the capital Ulaanbaatar, the Vietnamese Embassy in Mongolia in coordination with the Mongolian National Chamber of Commerce and Industry (MNCCI) organized a business meeting between Vietnam and Mongolia.

Attending the event were representatives of 19 Vietnamese companies operating in the fields of banking, finance, legal consulting, insurance, construction, automation, agriculture, ecology and tourism and more than 30 representatives. representatives of 22 Mongolian enterprises. Among them are typical Mongolian businesses such as the civil aviation company “Ezinis Airways”, interested in operating direct flights between the two countries and the company “Bulgan meat market” interested in exporting meat to Vietnam. Male.

Speaking at the meeting, Vietnamese Ambassador Extraordinary and Plenipotentiary to Mongolia Doan Khanh Tam emphasized the importance of promoting trade cooperation between the two countries; Emphasizing the core role of businesses in strengthening trade relations between the two countries in the overall friendly relationship between Vietnam and Mongolia.

Ambassador Doan Khanh Tam said that according to Vietnamese statistics, the two countries’ trade turnover in 2023 has reached more than 130 million USD. To achieve the above results, there is a significant contribution of typical trade promotion activities such as the Vietnam – Mongolia Business Forums held in Mongolia and Vietnam in 2022, 2023 and 2023. This Vietnam – Mongolia business meeting was organized by the Vietnamese Embassy in Mongolia in collaboration with the Mongolian National Chamber of Commerce and Industry. These activities have helped businesses from both sides have the opportunity to directly interact, exchange information, learn about the needs, potential, and strengths of each side and on that basis strengthen and expand cooperation; Thereby making an important contribution to strengthening cooperation and increasing trade turnover between the two countries.

According to Ambassador Doan Khanh Tam, with a population of over 100 million people, Vietnam is not a small market. Currently, Vietnam is very interested and has great demand for importing meat and products from meat and cattle bones from Mongolia. Vietnam uses cattle bones to process animal feed and fertilizer for agriculture. In addition, the import of coal and leather from Mongolia as well as rare earth elements necessary for the production of electric cars such as copper, zinc and aluminum are currently of interest to Vietnamese businesses. To further expand cooperation between Mongolia and Vietnam, strengthening cooperation in the logistics transport industry of the two countries plays a very important role.

Ambassador Doan Khanh Tam added that scientific researchers from the Vietnam Academy of Science and Technology went to Mongolia to research herbs and determined that, on the Mongolian steppe, there are about 3,000 types of herbs. medicine. This is a potential source of raw materials for the production of many medicines.

For his part, Vice Chairman of the Mongolian National Chamber of Commerce and Industry Dr. Magnaibaatar affirmed that the traditional friendship between Mongolia and Vietnam has continuously developed in recent times, especially in the fields of economics and trade. In 2023, Mongolia exported 5 million USD of sheep meat, goat meat, and cattle products to Vietnam; in the opposite direction, Mongolia imported 115 million USD of items such as rice from Vietnam. , soybean oil, canned nuts, dried fruit and plastic packaging.

Vice Chairman of the Mongolian National Chamber of Commerce and Industry Dr. Magnaibaatar said that the Mongolian National Chamber of Commerce and Industry will continue to cooperate more closely with Vietnamese partners to strengthen economic and trade cooperation, balance trade turnover, and implement projects. Joint projects and programs, promoting investment, creating favorable conditions for trade, as well as solving logistic transportation problems.

At the meeting, the signing ceremony of a Memorandum of Cooperation in the field of insurance and reinsurance took place between Vietnam’s “Hanoi Re” Company and Mongolia’s “Amar Insurance” Company. Under this cooperation, Hanoi Re commits to providing Amar Insurance with technical understanding of international reinsurance products and markets, training and professional development for Amar Insurance employees, and support reinsurance capacity and provision of technical risk management services. On the contrary, Amar Insurance is committed to prioritizing cooperation and providing Hanoi Re with in-depth understanding of the market, regulations and necessary knowledge about reinsurance – reinsurance in Mongolia./.