Luxembourg keen to expand all-around cooperation with Vietnam

During a reception held on November 17 for Vietnamese Ambassador to Luxembourg Nguyen Van Thao, the local diplomat presented a Letter of Credence from President Nguyen Xuan Phuc to Grand Duke Henri. In response Grand Duke Henri express his appreciation for co-ordination between the two countries and mutual support at multilateral and regional forums such as the UN, the Asia-Europe Meeting (ASEM), and the Francophonie.

He also underscored the importance of strengthening co-operation as a means of ensuring security, safety, and freedom of navigation in the region, including the East Sea, internationally known as South China Sea.

For his part, Ambassador Nguyen Van Thao expressed his honour at assuming the role of Vietnamese Ambassador to Luxembourg and affirmed that he would ramp up efforts aimed at promoting and deepening traditional friendship ties between the two countries.

The Vietnamese diplomat used the platform to thank Luxembourg for its valuable support through various development co-operation schemes as effective contribution to boosting the Doi Moi (Renewal) process along with socio-economic development locally.

He conveyed the invitation of President Phuc to Grand Duke Henri of Luxembourg to visit Vietnam in the near future, especially as the two countries are set to celebrate the 50th anniversary of diplomatic relations in 2023.

Ambassador Thao applauded Luxembourg's role as a global financial centre that is capable of attracting several of the world's largest investment and distribution funds.

The Ambassador went on to affirm the country’s readiness to create favourable conditions for Luxembourg, the fifth largest investor of the EU into the Vietnamese market, to expand co-operation and increase investment in fields of dual interests. This includes finance, climate change adaptation, renewable energy, circular economy, cultural and educational cooperation, and people-to-people exchanges.

Sharing the commitment to respond to climate change and digital transformation efforts, Ambassador Thao stated that the Vietnamese side has a strong desire to learn from experience, increase financial resources, and improve the overall quality of human resources.

Therefore, the country expects Luxembourg to continue to help the nation enjoy access to investment sources in a number of important fields, such as financial technology, innovation, smart infrastructure, green transport, and the training of highly-skilled human resources, the Vietnamese diplomat told his host.

The Ambassador also suggested that Grand Duke Henri support and urge EU member states to swiftly complete the ratification process of the EU-Vietnam Investment Protection Agreement (EVIPA), thereby bringing greater opportunities to Luxembourg businesses interested in expanding investment in the country.