Vietnam-Bulgaria foster substantial and effective economic cooperation
WVR - On May 21, in Sofia, the Embassy of Vietnam in Bulgaria, in collaboration with the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) and the Ministry of Innovation and Growth of Bulgaria, organized a business seminar themed “Towards Substantial and Effective Economic Cooperation between Vietnam and Bulgaria”.
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| Vietnamese Ambassador to Bulgaria Nguyen Thi Minh Nguyet delivers the opening speech at the seminar. (Source: Embassy of Vietnam in Bulgaria) |
The event attracted over 80 delegates, including representatives from management agencies such as BSMEPA, the Bulgarian Chamber of Commerce and Industry (BCCI), the Bulgarian Investment Agency, leaders of Sofia Tech Park, trade promotion organizations, and the Bulgarian business community, along with representatives from more than 60 Bulgarian enterprises interested in the Vietnamese market.
In her opening remarks, Vietnamese Ambassador to Bulgaria Nguyen Thi Minh Nguyet emphasized that the seminar is not only a trade promotion activity but also a substantial forum for exchanging ideas to promote specific cooperative actions between the business communities of the two countries.
The Ambassador appreciated the coordination of Bulgarian agencies in supporting businesses, connecting partners, and facilitating bilateral economic cooperation.
The Ambassador affirmed that the traditional friendship between Vietnam and Bulgaria continues to be strongly reinforced, especially after the two countries upgraded their relationship to a Strategic Partnership during the official visit of General Secretary To Lam to Bulgaria in October 2025.
However, economic, trade, and investment cooperation has not yet matched the potential and excellent political relations between the two countries.
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| Overview of the seminar. (Source: Embassy of Vietnam in Bulgaria) |
At the seminar, Mr. Nguyen Thanh Hai, representative of the Vietnamese Trade Office in Bulgaria, provided an overview of Vietnam's economic development, highlighting the stable investment environment, positive growth rate, and Vietnam's increasingly important role in the Southeast Asian production and trade chain.
According to Mr. Nguyen Thanh Hai, with a population of over 100 million and rising consumer demand, Vietnam offers numerous opportunities for Bulgarian businesses in fields such as pharmaceuticals, information technology, high-quality agricultural products, and processed foods.
Conversely, Vietnam also has many products capable of expanding their market share in Bulgaria and the Balkan region, such as tropical agricultural products, seafood, furniture, electronics, and information technology products.
Beyond trade, there is significant potential for investment cooperation. Bulgarian enterprises are encouraged to invest in Vietnam in pharmaceuticals and information technology, while Vietnamese businesses can seek opportunities in Bulgaria in high-tech agriculture, food processing, and tourism.
In her presentation at the seminar, Ms. Gabriela Dimitrova, a representative of BCCI, assessed that Bulgaria has many advantages such as a strategic location, a stable business environment, and access to the European Union (EU) market, while Vietnam is a fast-growing economy in Southeast Asia. According to her, bilateral trade turnover from 2020-2025 has grown positively, yet Bulgaria still has a large trade deficit with Vietnam.
The BCCI representative also pointed out potential cooperation areas including information technology, mechanics, pharmaceuticals, cosmetics, agriculture, food, tourism, and education. She also mentioned some challenges such as cultural differences in business and logistics challenges, and proposed enhancing business connectivity, human resource training cooperation, and promoting innovation.
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| Vietnam opens up many opportunities for Bulgarian businesses. (Source: Embassy of Vietnam in Bulgaria) |
During the discussion session, representatives from Bulgarian businesses and the European Business Association - Vietnam shared experiences of cooperation with Vietnam and discussed difficulties in bringing Vietnamese goods to the Bulgarian market, particularly concerning technical standards, distribution systems, and logistics.
Many opinions also addressed Bulgaria's policies supporting businesses in expanding international operations, as well as the potential for Vietnam-Bulgaria cooperation projects to access preferential funding and support from the European Union.
In the aviation sector, Mr. Todor Ivanjivkov, Chairman of the Bulgarian Aviation Association, assessed that the demand for transportation between Bulgaria and Asia, particularly Vietnam, is increasing. He suggested that researching the opening of a direct flight route between the two countries in the future would contribute to boosting trade, tourism, and business connectivity.
In the field of technology and innovation, Mr. Todor Mladenov, CEO of Sofia Tech Park, noted that Vietnam and Bulgaria have significant potential for cooperation in areas such as artificial intelligence, digital transformation, high-performance computing capacity development, and high-quality human resource training.
Bulgarian business representatives also praised the hardworking spirit and adaptability of Vietnamese workers, expressing a desire to strengthen bilateral cooperation in vocational training and human resource development.
In her closing remarks, Ambassador Nguyen Thi Minh Nguyet appreciated the open and substantial exchanges of the delegates, affirming that Vietnam and Bulgaria still have much potential for cooperation in trade, investment, logistics, aviation, education, tourism, and pharmaceuticals.
The Ambassador emphasized that the Embassy of Vietnam in Bulgaria will continue to accompany the agencies and businesses of both countries to promote connectivity, trade, and investment, contributing to a more effective and substantial development of Vietnam-Bulgaria economic relations in the future, commensurate with the Strategic Partnership framework between the two countries.
