Bulgaria Mulls Credit Portfolio for Companies Working with Vietnamese Partners

Bulgaria mulls creating a credit portfolio to provide liquidity support to companies willing to work together with Vietnam, according to Deputy Prime Minister Tomislav Donchev.

Speaking Friday at the opening of a Bulgarian-Vietnamese business forum, Donchev emphasized that Bulgaria had the opportunity to work with Vietnam in new economic spheres.

He said that Bulgaria had solid experience in nuclear energy and renewable energy sources and that the authorities had decided to give priority treatment to environmental projects, according to reports of the BGNES news agency.

Donchev explained that there was an opportunity to build production capacities in Bulgaria specializing in the processing of semi-manufactures to be exported to the European market.

Bulgaria’s Deputy Prime Minister argued that trade turnover between the two countries had to increase, as well as imports and exports of high-value-added products.

He expressed his hope that Vietnam could be a strategic partner for Bulgaria, while Bulgaria could become a door to the EU for Vietnam.

“Bulgaria has the lowest tax rates in the EU and also boasts a swiftly improving infrastructure,” Donchev declared, adding that Bulgaria was, first and foremost, a friend of Vietnam.

Vietnam’s Prime Minister Nguyen Tan Dung said that Vietnam was turning from a poor country into a leading economy.

He informed that 101 countries with 18 large-scale projects had been investing in Vietnam over the past few years, adding that the total value of the schemes amounted to nearly USD 260 B.

At the end of 2015 Vietnam is to sign a free trade agreement with the EU.

The country is also in talks with 15 other countries that are members of the G20.

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