Enhancing Vietnam-Pakistan trade and investment connectivity
WVR - On October 29, continuing the series of activities aimed at strengthening trade and investment connectivity between Vietnam and Pakistan, Vietnamese Ambassador to Pakistan Pham Anh Tuan held a working session with Pakistan's Federal Minister for Investment and Chairman of the Board of Investment, Qaiser Ahmed Sheikh.
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| Ambassador Pham Anh Tuan and Federal Minister for Investment and Chairman of the Board of Investment, Qaiser Ahmed Sheikh. |
During the meeting, Ambassador Pham Anh Tuan provided updates on Vietnam's situation, the Vietnam-Pakistan relationship, and the recent initiation of negotiations for the Vietnam-Pakistan Preferential Trade Agreement (VPPTA). He also urged Minister Qaiser Ahmed Sheikh to expedite negotiations to soon finalize the VPPTA, opening new opportunities for economic, trade, and investment cooperation between the two countries.
Regarding the Minister's interest in Vietnam's experience in energy infrastructure development, the Ambassador noted that Vietnam has extensive experience in planning, constructing, and operating energy systems and upgrading the power grid. Additionally, Vietnam has developed renewable energy systems like wind and solar power to effectively support its economic development and is ready to cooperate if Pakistan requires assistance.
The Ambassador also requested Minister Sheikh, in his capacity as the head of Pakistan's investment promotion agency, to facilitate Vietnamese enterprises' participation in energy infrastructure development, which the South Asian nation urgently needs and in which Vietnam has significant expertise, such as hydropower, electricity transmission, and electrical equipment, based on international investment funds currently being deployed in Pakistan.
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| Minister Qaiser Ahmed Sheikh affirmed that he would encourage and facilitate foreign enterprises, including Vietnamese businesses, to collaborate and invest in Pakistan. |
Also attending the meeting was Mr. Tran Hong Ky, a World Bank expert in Pakistan. Mr. Ky analyzed the structural similarities in the power sector of both countries and directly compared their electricity generation capacities: Vietnam, with a population of 100 million, has a capacity of 90,000 MW, while Pakistan, with 250 million people, only reaches 45,000 MW.
He emphasized that cooperation should be officially implemented through state agencies to ensure transparency and efficiency, while also encouraging Vietnamese enterprises to participate in major projects in Pakistan, contributing to resource diversification and fostering healthy competition.
The World Bank expert also shared Vietnam's energy development strategy, which is based on private investment, special economic zones, and flexible policies on investment and labor. He highlighted three key factors for successful industrialization: technical infrastructure, policy framework, and human resources.
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| Ambassador Pham Anh Tuan provided updates on Vietnam's situation, the Vietnam-Pakistan relationship, and the recent initiation of negotiations for the Vietnam-Pakistan Preferential Trade Agreement (VPPTA). |
For his part, Minister Qaiser Ahmed Sheikh highly appreciated Vietnam's achievements, viewing the Southeast Asian nation as a model for attracting investment and developing export industries. He committed to improving the investment environment, welcoming cross-sector cooperation proposals, organizing investment forums, and promoting business delegation exchanges, particularly in energy, agriculture, textiles, and information technology between Vietnam and Pakistan. The Minister also affirmed that he would encourage and facilitate foreign enterprises, including Vietnamese businesses, to collaborate and invest in Pakistan.
