Vietnam, Egypt promote economic, trade, and supply chain connectivity via the Red Sea
WVR - From July 9-11, to implement the framework of the Vietnam-Egypt Comprehensive Partnership, Vietnamese Ambassador to Egypt Nguyen Nam Duong conducted a series of economic diplomacy activities in the Red Sea Governorate to promote trade, investment cooperation, and business connectivity, one of the crucial pillars in the relationship between the two countries.
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| Vietnamese Ambassador to Egypt Nguyen Nam Duong and Red Sea Governor Walid Al Barqi discuss measures to promote cooperation in economics, trade, logistics, seaports, and supply chains, contributing to concretizing the Vietnam-Egypt Comprehensive Partnership framework. (Source: Vietnamese Embassy in Egypt) |
On July 11, Red Sea Governor Walid Al Barqi received Ambassador Nguyen Nam Duong and the embassy delegation at the provincial government headquarters.
Introducing the locality, Governor Walid Al Barqi stressed that the Red Sea Governorate is one of Egypt's most dynamically developing areas with seven coastal cities, with the administrative center located in Hurghada. The region boasts abundant mineral reserves, notably phosphate ore.
Many products are preliminarily processed before export. Additionally, the seaport system along the Red Sea provides an advantage for developing maritime trade, tourism, aquaculture, renewable energy, and the oil and gas industry.
The Governor affirmed that the Red Sea Governorate always values international cooperation and is ready to facilitate Vietnamese businesses in exploring investment and business opportunities, especially in tourism, mining, and marine economic development.
Ambassador Nguyen Nam Duong emphasized that upgrading the bilateral relationship to a Comprehensive Partnership has opened up many new cooperation opportunities between localities.
To concretize the results of President Luong Cuong's state visit to Egypt in 2025, the Ambassador proposed strengthening connections between the Red Sea Governorate and Vietnam's coastal localities in maritime transport, logistics, tourism, import-export, and mineral exploitation.
In the mineral sector, the Ambassador suggested that Egyptian enterprises continue to fully implement contracts for supplying phosphate ore to Vietnamese partners, contributing to diversifying input materials and aiming for a balanced bilateral trade balance.
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| Ambassador Nguyen Nam Duong emphasises the role of businesses in realizing high-level cooperation commitments between the two countries. (Source: Vietnamese Embassy in Egypt) |
Earlier, on July 9, Ambassador Nguyen Nam Duong and the delegation had a meeting with Khaled Abdelgelyl, Chairman of the Red Sea Chamber of Commerce.
Praising Vietnam's development achievements, Khaled Abdelgelyl acknowledged the positive cooperation results in apatite ore mining between businesses of the two countries in recent times. He also proposed expanding cooperation to other types of minerals and enhancing tourism links to create more trade and investment opportunities.
Following the meeting, Ambassador Nguyen Nam Duong and the Chairman of the Red Sea Chamber of Commerce co-chaired a business forum themed “Vietnam-Egypt Economic Partnership: Growth and Opportunities,” attracting a large number of local businesses.
In his opening remarks at the forum, Ambassador Nguyen Nam Duong affirmed that the business community and local chambers of commerce play a key role in realizing high-level commitments between the leaders of the two countries.
Based on the complementary advantages of the two economies, the ambassador proposed focusing cooperation on three priority areas: ensuring supply chains and trade balance, developing the marine economy combined with high-tech aquaculture, and enhancing seaport connectivity and logistics services.
At the forum, Nguyen Duy Hung, Head of the Vietnamese Trade Office in Egypt, stated that bilateral trade relations have grown strongly over the past decade. Notably, 2025 marked the first time the import-export turnover between the two countries exceeded 700 million USD.
Delegates noted that besides Vietnam's traditional export items such as coffee, pepper, cashew nuts, pangasius, and canned tuna, there is ample room to expand the range of exchanged goods.
Accordingly, Vietnamese businesses can boost exports of tea, rice, frozen shrimp, machinery, and electrical equipment. On the Egyptian side, many products have the potential to increase their presence in the Vietnamese market, including citrus fruits, grapes, fertilizers, and especially phosphate ore.
The forum also recorded many discussions on tariff policies, the potential opening of the market for fresh Egyptian fruits, and visa procedures for Egyptian businessmen attending fairs and exhibitions in Vietnam.
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| Red Sea Governor Walid Al Barqi affirms that the locality is ready to facilitate Vietnamese businesses to expand investment and business in Egypt, especially in tourism, mining, and marine economic development. (Source: Vietnamese Embassy in Egypt) |
On the sidelines of the event, Red Sea Governorate businesses visited the exhibition area showcasing Vietnam's key products in the Egyptian market, thereby opening up more opportunities for partner connections, trade promotion, and investment cooperation.
In the context of Vietnam-Egypt relations entering a new development phase after being upgraded to a Comprehensive Partnership, strengthening cooperation with potential-rich localities like the Red Sea Governorate is expected to expand cooperation areas in trade, investment, logistics, tourism, minerals, and energy, contributing to developing the economic relationship between the two countries in a substantive, effective manner, commensurate with the new cooperation framework.
(Source: Vietnamese Embassy in Egypt)
