Thursday, 21 Jan 2021
Vietnam has captured the attention of Ithraa, Oman’s inward investment and export promotion agency, as an emerging and growing market for Omani exporters.

Team Ithraa on exploratory trade mission to Vietnam

Mazin al Siyabi, Ithraa’s head of Exports, led a little team on an exploratory trade go to to Vietnam, July 23-27 exactly where he held meetings with government officials as effectively as representatives from the Vietnamese enterprise neighborhood. The aim of the mission was to discover trade relations among Oman and Vietnam and for Ithraa management to strengthen their information of the several and developing industrial possibilities in Vietnam.

Fueled by fast development and elevated foreign direct investment (FDI), 2017 emerged as 1 of the strongest years for Vietnam. With GDP developing at six.81 per cent, record FDI levels and trade figures reaching an all-time higher of US$400bn. Ho Chi Minh City continues to lead amongst all cities and provinces, followed by the northern province of Bac Ninh and the central province of Thanh Hoa. Other main FDI destinations contain Nam Dinh, Binh Duong, Kien Giang and Hanoi.

“Vietnam’s long-term economic prospects are being driven by demographics, a growing middle class and the dynamism of its workforce. It all looks very promising,” mentioned Nasima al Balushi, Ithraa’s director basic of Export Development and Acting Director General of Investment Promotion.

She added, “With a population of 95.5mn, Vietnam is set to become increasingly important for companies worldwide. We are keen to get more Omani exporters interested in this dynamic market.” Research estimates that Vietnamese import demand is anticipated to develop by about 250 per cent among 2010 and 2020 – quicker than any other emerging energy, which includes China.

“Vietnam is one of several high-growth markets we are looking at. Based on the team’s meetings, it is clearly a good time for Omani exporters to explore the emerging commercial opportunities on offer in Vietnam. Sectors that stand out include logistics, retail, healthcare, plastics, ICT, advanced engineering, food and beverage and energy,” added Nasima.

Information Source: Muscat Daily

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