President of Poland Andrzej Duda opens PAIH trade office in Vietnam

“We define Vietnam as one of the most promising markets for Polish companies in Asia” - said Tomasz Pisula, president of Polish Trade and Investment Agency who took part in the mission to Vietnam with Polish President. With the biggest turnover with Poland that no other ASEAN countries has generated since 2016, Vietnam is definitely among the most important partners of Poland  in the South - East Asia”, added Tadeusz Kościński, deputy minister of economic development who also went to Vietnam with the Polish delegation.

This ASEAN country has one of the fastest developing economies in the region with the young, laborious and more and more educated society consisted of 80m inhabitants. In the incoming years, the Vietnamese GDP growth is expected to be between 6% to 7% (now it is estimated at 6,3%).

A Polish pharmaceutical company Adamed Group is one of the beneficiaries of the good business climate in Vietnam. On the second day of the PAIH business mission to Vietnam, this drug producer from Poland signed an agreement allowing the company to take over the Vietnamese Dat Vi Phu Pharmaceutical JSC for $ 50m. The contract is said to be the biggest business agreement in the history of Polish investment in Vietnam. As Adamed Group, the most European companies enter this market through Foreign Direct Investment (FDI) as investors can expect low costs of entering the market and the ease of doing business, there. In contrast to many other countries there are no minimum capital requirements for most business lines in Vietnam). Also the friendly approach of the local authorities for foreign companies is the other advantage of Vietnam.

The country is considered as a gateway to the ASEAN free trade market. Now, it is also negotiating Free Trade Agreements with Israel and Hong Kong. - The negotiation with the EU have been already completed and the FTA agreement is expected to be signed at the beginning of 2018.

The growing importance of Vietnam is the reason why President of Poland Andrzej Duda paid a visit to this country and why Polish Trade and Investment Agency has decided to open its division in this country in 2017.

“At the moment PAIH has already opened 13 offices, worldwide. The one in Vietnam is the second opened by President Andrzej Duda”, Pisula said.

We wanted our division to be located in a very centre of the Vietnamese business that is why we decided to establish it in the Ho Chi Minh City”, Pisula explains. As he ads, Polish companies can expect there an assistance of experiented professionals as well as the access to over 8.500 business counterparts representing various sectors.

“I’m grateful that authorities of Vietnam and Ho Chi Minh City allowed PAIH to open the trade office, there. I would also like to invite business from the two countries to cooperate with PAIH and the Polish Development Found that PAIH is associated with”, Pisula said.

The office was opened on 30 November jointly by Tomasz Pisula of PAIH and the general director of Industrial and Trade Office of Vietnam (VCCI), Mr Vo Tan Thanh. The ceremony took place in the presence of the President of Poland Andrzej Duda, deputy prime minister Jarosław Gowin and the deputy minister of economic development Tadeusz Kościński. 

„I wish PAIH and its trade officers good luck and hope that their presence in Vietnam will soon result in fruitful business agreements”, said president Andrzej Duda.

On the same day three cooperation agreements were signed during the Poland - Vietnam Business Forum that had preceded  the opening of PAIH Office. The contract were singed between LOT Polish Airlines and Vietnam Airlines, what is momre, Polish Trade and Investment Agency singed two agreements: with VWSA and Industrial and Trade Office of Vietnam (VCCI).

PAIH president Tomasz Pisula signs agreement with Vietnamese counterpart.

All cooperation agreements were signed in the presence of the President of Poland Andrzej Duda. (PAIH)