On Monday, Flemish Minister President Jan Jambon will lead a delegation of 29 companies to Vietnam as part of a trade mission. The primary objectives of the visit are to
strengthen ties with Vietnam and explore opportunities for Flemish businesses in areas such as infrastructure, smart logistics, and food.
Over the past few years, Flanders and Vietnam have already seen their relationship grow. In 2018, Jan Jambon's predecessor, Geert Bourgeois, led a trade mission to Vietnam, while Jambon hosted Vietnamese Prime Minister Pham Minh Chinh for a working lunch in Brussels in 2022.
Trade between the two regions has also significantly increased. In the previous year, Flanders exported 2.28 billion euros worth of goods to Vietnam, marking a 201% increase from 2021. These exports mainly consisted of chemical and pharmaceutical products, as well as diamonds. Flanders imported 3.85 billion euros worth of goods from Vietnam in the same period, up nearly 48%. The imported goods were primarily shoes and headwear, base metals, and textiles.
Vietnam's rapid economic growth has transformed it from one of the world's poorest nations in 1990 into one of the most dynamic economies in the ASEAN region. It is predicted to be among the top 20 world economies by 2050. As a result, more companies are adopting a "China Plus One" strategy, diversifying their operations beyond China.
While Vietnam's growth presents opportunities, it also brings challenges in terms of infrastructure, logistics, and the environment. Companies such as Jan De Nul, DEME, Katoen Natie, Boydens-Sweco, and HydroScan are participating in the mission to explore opportunities in these areas.
In addition to these companies, VLAM, Flanders' center for agriculture and fisheries marketing, along with five firms from the fruit and meat sector, are also part of the delegation.
The visit will include several political meetings, including meetings with the prime minister. Jambon's itinerary includes stops in Hanoi, Hai Phong, and Ho Chi Minh City before returning to Belgium on September 16. Photo by Richard Allaway, Wikimedia commons.