LATVIA Seeks Partners in the Pharmaceutical and Mechanical Engineering Sectors through ASMES

The Latvian Chamber of Commerce and Industry (LCCI) recently paid a visit to the Association of Southern Small and Medium Enterprises (ASMES) to explore potential business partnerships in the pharmaceutical and mechanical engineering sectors.

As part of a scheduled working trip, the Vietnam Trade Office in Sweden, concurrently responsible for Denmark, Norway, Iceland, and Latvia, will lead a delegation of Nordic businesses to participate in the Vietnam International Sourcing 2025 (VIS) – organized by the Ministry of Industry and Trade, taking place from September 4–6, 2025, in Ho Chi Minh City.

During this mission, LCCI expressed a desire to meet with ASMES to discuss opportunities for expanding business collaboration and enhancing enterprise connectivity between Vietnam and Latvia. Notably, two Latvian companies—one in pharmaceutical production and another manufacturing biomass pellet boilers—are keen to connect with businesses in Ho Chi Minh City during this trip.

Also present at the meeting was Ms. Nguyễn Thị Hoàng Thuý, Director General at the Ministry of Industry and Trade and Vietnam Trade Counselor in Sweden.
Representing ASMES were:

• Mr. Phạm Hải Tùng, President of ASMES;
• Prof. Dr. Lê Minh Trí, Vice President of the University of Health Sciences, Vietnam National University, Ho Chi Minh City;
• Mr. Trần Ngọc Dũng, President of An Thien Pharmaceutical Joint Stock Company;
• Mr. Lương Đăng Khoa, President of Boston Vietnam Joint Stock Company;
• Mr. An Mạnh Hùng, CEO of Enlie Pharmaceutical Company;
• Mr. Lê Vi Hiển, Director of US Pharma USA Joint Stock Company;
• Mr. Nguyễn Hồ Tuấn, Director of Thang Long Saigon Co., Ltd;
• Mr. Bùi Yasin, Norway Pharmatech As;
• Assoc. Prof. Dr. Trần Việt Hùng, Director of the Ho Chi Minh City Drug Testing Institute.

The Latvian delegation was led by:

• Ms. Natalija Juskova, Deputy Director of Foreign Affairs, LCCI;
• Mr. Aleksandrs Parfjonovs, LCCI Representative in Vietnam;
• Mr. Kaspars Ivanovs, Board Member and CFO of Lotos Pharmaceutical Company;
• Ms. Dana Prince, Designer at Grandeg SIA.

During the session, Mr. Phạm Hải Tùng introduced the Latvian delegation to the strengths, potential, and key achievements of southern Vietnam’s SMEs in recent socio-economic development.

He stated: “Currently, Vietnam has over 1 million legally operating businesses, with small and medium enterprises accounting for approximately 96%, contributing about 45% of national GDP.”

Mr. Tùng also emphasized the widespread presence of SMEs across all sectors of the economy. He noted that many of the SMEs attending the meeting are operating in the pharmaceutical and mechanical industries, which align with the Latvian delegation’s interests. He expressed hope that the two sides would find common ground and forge productive partnerships to foster economic growth.
On behalf of LCCI, Ms. Natalija Juskova extended her gratitude to Mr. Tùng and the ASMES delegation for their warm hospitality.

She fully agreed with the ASMES president that Vietnam and Latvia share many similarities, including history, geography, abundant natural resources, scenic coastal tourism, and favorable maritime trade infrastructure. Both nations also value family connections and prioritize education and traditional values.
She added that 75% of LCCI members are SMEs, and over time, these enterprises will continue to grow and become key drivers of economic development. She hoped that the meeting would mark a successful start to future collaborations and that businesses from both sides would engage in meaningful discussions and partnerships.

During the meeting, businesses from both countries exchanged information about their capabilities, strengths, and market potentials. They also shared their desire to find business partners and markets for product development.
Both sides agreed to maintain ongoing exchanges to better understand investment environments, identify specific cooperation opportunities, and address the actual conditions of their business communities. The goal is to build a strategic, sustainable, and mutually beneficial partnership.