Dutch Investment Surges in Ho Chi Minh City

The Netherlands has cemented its position as the European Union's top investor in Ho Chi Minh City, reflecting strong and growing economic ties between the two countries, Mr. Tran Trong Dung, Chairman of the Vietnam - Netherlands Friendship Association in Ho Chi Minh City said on May 6.

Dutch and Vietnamese business communities and diplomats gathered at a meeting to celebrate the National Day of the Kingdom of the Netherlands.

According to Mr. Dung, this Dutch leadership position is driven by shared concerns over climate change and a mutual entrepreneurial mindset.

Bilateral trade between Vietnam and the Netherlands approached USD 10 billion in 2023, a considerable 13.6% surge from the previous year. Dutch investment in Vietnam's bustling southern metropolis now exceeds a significant USD 5.1 billion.

Climate Cooperation Deepens

Ho Chi Minh City is actively pursuing a new phase of cooperation with the Netherlands, a country renowned for its expertise in flood prevention. This collaboration underscores the common climate-related challenges faced by both nations, which share large delta regions.

"The foundation of the good relationship between Vietnam and the Netherlands is the need to complement each other and the desire to share common values, similarities in natural conditions as well as environmental challenges," explained Mr. Dung.

People-to-People Ties Strengthen

The robust economic partnership between Vietnam and the Netherlands has a strong foundation in people-to-people connections. The Vietnam-Netherlands Friendship Association, established in 2022, actively promotes cultural exchanges and recently organized a well-attended "For Peace – Friendship" cycling event.

"The Vietnamese and Dutch people have in common the spirit of entrepreneurship and business," noted Mr. Daniel Stork, Consul General of the Netherlands in Ho Chi Minh City. "Both sides want to create a sustainable business relationship."

Shared Values, Shared Future

The Netherlands' readiness to share its expertise in climate change adaptation reflects the deepening collaboration between the two countries.

As Vietnam continues its rapid economic development, partnerships like these will prove increasingly important in addressing shared challenges and securing sustainable growth. The strong bilateral relationship is poised for further expansion in the years ahead.

Source: VnEconomy