Spanish interest in Vietnam growing

A higher than expected number of Spanish companies has come to sound out the prospects in Vietnam and seek partners this year, contributing to more awareness of the European country and its products in this growing market.

Alberto Cerdán, Spanish economic and commercial counselor in Viet Nam, said the increasing number of Spanish companies interested in this country was one of the indicators of Spain’s growing presence in Viet Nam.

“At the beginning of 2008 our objective was to assist 150 Spanish companies interested in Viet Nam but at the end of September we had already reached that target,” Cerdán said.

Cerdán recounted the HCMC Economic and Commercial Office under the Spanish Embassy in Viet Nam organizing trips for 10 Spanish business missions to Vietnam, from garment to telecommunications, this year.

“Spanish companies’ profile has changed a lot, with companies now looking for ways to build strong partnerships (with Vietnamese firms) with a more forward looking approach,” he said.

Cerdán said the immediate outcome of the missions was positive but it would only be in the medium to long run when the real results could be assessed.

2008 should end with almost 200 Spanish companies visiting Viet Nam to seek opportunities for outsourcing, investment, buying or finding commercial agents, Cerdán told the Daily last week when more than 10 Spanish companies began touring Viet Nam.

The visiting companies are members of AFM, the Spanish Association of Tool Machine Manufacturers, as well as AETIC, the Spanish Electronics, Information Technology and Telecommunications Industries Association.

The AFM member companies are in Hanoi while the AETIC representatives are in HCMC and also Hanoi to look for distributors and agents.

Cerdán said the companies are looking to sell sound equipment, integrated security systems and tool machines to Viet Nam. “Industrial growth offers a great opportunity for tool machine companies to offer their products and know-how. The potential for the development of telecommunications in Viet Nam is huge.”

Cerdán stressed Spain’s companies had also paid attention to opportunities in other important sectors. Despite difficulties ahead, Cerdán said the office had already selected areas to focus on in order to strengthen trade and cooperation between Spain and Viet Nam.

“Retail is going to be a dynamic sector where changes are going to happen quickly. Infrastructure, in particular transport, and renewable energies should be other key areas for cooperation,” Cerdán said.

Cerdán also named tourism as a key sector in which Spain has much to share with Viet Nam.

Cerdán said in addition to more Spanish companies looking at Viet Nam as an important partner, the rapid growth of this country in recent years and the speed of change drew many Spanish companies here.

“This is why more and more Spanish companies come to Viet Nam. We expect this trend will continue in the next months despite the current international financial crisis,” he said. (SGT)