Hanoi (VNA) – Luxembourg and Vietnam can expand theircooperation in new areas based on the solid foundation of the bilateral relations, the European country's Minister of Foreign and European Affairs Jean Asselborn hassaid.

In an interview granted to the Vietnam News Agency on the occasion of the 50th anniversary of the Vietnam – Luxembourg diplomatic relations (November 15,1973-2023), he said that the EU-Vietnam Free Trade Agreement (EVFTA) has createdbright prospects for Luxembourg enterprises who have shown their interest inthe Vietnamese market.

At the Vietnam – Luxembourg Business Forum in Ho Chi MinhCity on May 5, LuxembourgPrime Minister Zavier Bettel expressed his wish for cooperation across thefields of green transition and digital transformation. 

In his visit to the Ho Chi Minh Stock Exchange, Bettel also highlightedcollaboration strengths in green and sustainable finance between the twocountries, the Luxembourg diplomat underscored.

Jean Asselborn said he believes that current efforts tobolster cooperation in air transport, banking-finance, Fintech as well asscience-technology will be accelerated in the coming time.

He elaboratedthat the EU and its member states have seen the necessity to sharpen focus onpromoting investment and growth in green and digital transition, adding Luxembourghas for years stepped up the implementation of green and sustainable measureswhile developing the Environmental, Social and Governance (ESG) criteria andcircular economy.

Although several enterprises of both nations have worked together to providegreen and clean solutions that help Vietnam deliver on its net-zero target by2050, Luxembourg believes that further efforts should be put in place torespond to climate change, including sea level rise and floods which have damagingimpact on many countries, the official stressed.

Healso said that fruitful cooperation in multi-faceted fields, from transport, logisticsand medical technology to digital service and banking, is a vivid illustrationfor the diversity of business opportunities that Vietnam has brought toLuxembourg firms.

Thediplomat expressed his delight at the enhanced development assistance and economicexchange between the two nations over the past decade, stating Luxembourg hascontributed to the impressive socio-economic development in Vietnam, while theSoutheast Asian country has an important role to play in the global value chainwhich helps the nation draw a large amount of foreign investment, including thosefrom Luxembourg. 

Vietnam and Luxembourg boast huge trade opportunities, he stressed, saying Vietnamis an important partner of Luxembourg, and Luxembourg was the third largestEuropean investor in Vietnam in 2022.  

Recalling the visits to Luxembourg by Prime Minister Pham Minh Chinh last December, Minister of Finance Ho Duc Phoc in July, and a delegationfrom the Ministry of Science and Technology also in July, he stressed that the Vietnam is interested in cooperating with Luxembourg in economy, Fintech, and sustainablefinance.

There is a community of hundreds of Luxembourg people in Vietnam, many of whom came to study and decided to stay there to work and contribute to therenovation and development of enterprises in the host nation, he said, addingthey have given a helping hand in consolidating the friendship between Vietnamand Luxembourg.

He expressed his hope for further exchanges between the two peoples, universities andbusinesses, helping enhance the bilateral relations./.