A business delegation from the Latvian Chamber of Commerce and Industry visited Vietnam from September 3 to 11. The delegation was attended by Aleksandrs Parfjonovs, the Latvian Chamber of Commerce and Industry’s representative in Vietnam, Natalija Juškova, the Deputy Director of Foreign Affairs of the Latvian Chamber of Commerce and Industry, as well as Latvian entrepreneurs from the pharmaceutical and metalworking industries.
Participation in Sourcing Expo 2025
The delegation participated in the Vietnam International Sourcing Expo 2025, which will be held from September 4 to 6 in Ho Chi Minh City, at the Saigon Exhibition and Convention Center (SECC). The exhibition was organized by the Ministry of Industry and Trade of Vietnam, and featured more than 500 booths and exhibited more than 10,000 export-ready products manufactured in Vietnam. More than 300 delegations of procurement specialists from more than 60 countries participated in the exhibition. The event also included seminars, panel discussions and business meetings in addition to the exhibition.
Meeting with VCCI
On September 5, the Latvian delegation met with the Vietnam Chamber of Commerce and Industry (VCCI). The main focus of the talks was on getting acquainted with the chamber’s activities in Vietnam, with a particular emphasis on opportunities to strengthen economic cooperation, develop industry, and promote export and import flows.
Opportunities to deepen cooperation between the two chambers of commerce were also discussed – by organizing B2B meetings and networking events for members, as well as ensuring regular exchange of information about the most important exhibitions and events.
Natalija Juškova, Deputy Director of Foreign Affairs of the Latvian Chamber of Commerce and Industry, shares her impressions: “Despite the fact that the chambers operate on different continents, many services are similar – training, member networking, issuing certificates of origin, etc. The tasks of the Vietnamese chamber also include defending and promoting employers’ rights, as well as promoting activities related to industrial relations and sustainable development in Vietnam.”
Meeting with ASMES (Association of Small and Medium Enterprises in the South)
The LTRK delegation met with the Association of Small and Medium-sized Entrepreneurs in the South. Small and medium-sized enterprises (SMEs) are the backbone of the Vietnamese economy – they account for approximately 97% of all enterprises in the country, employ more than half of the workforce and generate approximately 45% of GDP. The meeting was also attended by 14 pharmaceutical companies in Vietnam, who are actively looking for cooperation partners.
Kaspars Ivanovs, member of the board of SIA “Lotos Pharma”, says: “The Vietnamese market offers great potential for our high-quality dietary supplements, medical devices, cosmetics and other health products. We currently have eight partners in Vietnam, and during the LTRK business visit we had the opportunity to get to know several Vietnamese pharmaceutical companies. Cooperation with the SME Association is particularly valuable, as it provides an opportunity to meet directly with real companies, not just with state institutions. In Vietnam, direct access to entrepreneurs from the outside is often less effective, so chambers and associations play an invaluable role in establishing contacts. Cooperation with EuroCham, which represents and lobbyes the interests of EU entrepreneurs in Vietnam, can also be useful, as we often face challenges in the field of product registration and market access. It is definitely worth it for entrepreneurs to participate in such visits, especially choosing exhibitions appropriate for their industry and carefully preparing for the trip. Latvian entrepreneurs should not be afraid to export to distant markets – Vietnam is a stable and rapidly growing market, which is definitely It is worth considering.”
Meeting with EuroCham and The Central & Eastern European Chamber of Commerce in Vietnam (CEEC)
EuroCham Vietnam represents the interests of European business people in the country and provides a strong lobbying platform. The Chamber regularly publishes the publication “Doing Business in Vietnam”, organizes networking events, business missions, B2B meetings and provides practical support to companies in various sectors – from manufacturing and logistics to IT, healthcare and renewable energy. In turn, the Central and Eastern European Chamber of Commerce in Vietnam (CEEC) supports companies from 15 countries, including Latvia and Lithuania. The main goal of CEEC is to help Central and Eastern European companies already operating in Vietnam strengthen the business community, promote cooperation with local companies and provide advice to new market participants on the challenges in Vietnam. The Latvian Chamber of Commerce had concluded a cooperation agreement with CEEC already in 2019.
The meeting also discussed the European Union-Vietnam Free Trade Agreement (EVFTA), which was signed in 2020 and has opened up new opportunities for business and investment cooperation.
Participation in the forum and signing of a cooperation agreement
On September 6, the LTRK delegation participated in the E-commerce and Export-Import Supply Chain Networking Forum event in Tay Ninh province, where Natalija Juškova, Deputy Director of Foreign Affairs of the LTRK, delivered a speech. In her presentation, she emphasized that Vietnam is one of the fastest growing economies in Southeast Asia and a stable potential cooperation partner for Latvia. Latvian sustainable innovations, deeptech and biomedical solutions, as well as other innovative technological products were presented to forum participants from more than 60 countries. Natalija Juškova invited entrepreneurs who want to export to join delegations to different countries to explore sauna opportunities, jaunt partners, jaunt markets, while conducting a thorough analysis of the market and competitors. During the forum, a memorandum of understanding was signed between the LTRK and the Tay Ninh Department of Industry and Trade. On behalf of the Latvian Chamber of Commerce and Industry, the memorandum was signed by the Latvian Chamber of Commerce and Industry representative in Vietnam, Aleksandrs Parfjonovs, who emphasized the importance of the first business delegation and its contribution to the development of cooperation. Aleksandrs says
“Considering my six years of experience in Vietnam, I can say that this is the first delegation of Latvian entrepreneurs that I have had the opportunity to work with. In 2019, I participated in the visit of Latvian Foreign Minister Edgars Rinkēvičs to Vietnam, during which a cooperation agreement in the field of education was signed between the two countries. As a representative of the Latvian Chamber of Commerce and Industry in Vietnam, I am ready to share my experience and expertise to help Latvian entrepreneurs take the first steps in business development here. I already have close cooperation with several business support organizations in Vietnam, and I have been elected to the councils of many of them, such as EuroCham. The signed memorandum of cooperation with Tay Ninh province provides new opportunities for Latvian entrepreneurs, especially in the fields of agriculture and food processing. Such agreements are highly valued in Vietnam and have practical significance in business development. I am pleased that Latvian entrepreneurs came to explore opportunities in Vietnam, and I hope that this will be the beginning of more active cooperation between our countries in the future.”
After the forum, the delegation visited a factory built by a European investor in the economic zone, the manager of which shared his experience of making the decision to build a factory directly in Vietnam, as well as the advantages for doing business in this country – the reliability of the workforce, its availability, qualifications, and favorable conditions for ensuring supply chains.
On September 11, a meeting was held with the Vietnam Association of Mechanical Industry (VAMI), whose main goal is to promote the competitiveness of its members, including by developing cooperation with foreign partners. The association had organized a visit to the metalworking plant Vietnam Boiler JSC, which provided a valuable opportunity to get acquainted with the production processes and their organization in person.
Andris Lubiņš, the owner of SIA “GRANDEG”, shares his thoughts: “The conversation with the factory manager was valuable, because regardless of whether the entrepreneur works in Latvia or Vietnam, the basics of the factory’s operations are similar: product development, quality control, employee management, logistics and ensuring supply chains, equipment maintenance, safety and improving efficiency. The conversations with the members of the LTRK delegation were also important. They allowed us to discuss business development. In everyday life, there is often not enough time for such a dialogue, but it is precisely during business trips that such mutual communication between entrepreneurs becomes a significant added value to the visit.”
The visit of the Latvian Chamber of Commerce and Industry delegation to Vietnam was fulfilling and useful for Latvian entrepreneurs. During the visit, participants participated in business-related events, established new contacts with Vietnamese partners, and gained valuable insight into the opportunities and challenges of the local market.
Our sincere thanks to the Ministry of Trade and Industry of Vietnam and its representative office in Stockholm, the Embassy of Vietnam in Sweden, the representative of the Latvian Chamber of Commerce and Industry in Vietnam, as well as SIA “Orkla Latvija” for the hospitality provided to cooperation partners in Vietnam. We would also like to thank every member of the delegation for their active involvement.
https://ltrk.lv/ltrk-biznesa-delegacijas-vizite-uz-vjetnamu-sadarbibas-stiprinasana-ar-dienvidaustrumaziju/