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Exporters salivate over Hungary market   2009-05-11 - Viet Nam News

Hungary is emerging as a potential market for Vietnamese exporters to expand their business as the global economic recession shrinks some of their traditional overseas outlets, according to Nguyen Cuong, director of the Da Nang chapter of Viet Nam Chamber of Commerce and Industry (VCCI).

Hungary needed to import several items that Viet Nam could supply, including coffee, tea, pepper, rice, footwear, clothes, textile and garments, foodstuff processing material, audio-visual and electronic equipment, frozen seafood and furniture.

Hungary should also be seen as a gateway for Vietnamese exporters to penetrate the European market, Cuong told a seminar organised by Asia Centre, a branch of Austria-based construction firm STRABAG, and VCCI Da Nang.

Representatives from Quang Tri, Thua Thien-Hue, Quang Nam and Quang Ngai provinces as well as Da Nang City attended the seminar that aimed to provide local businesses with opportunities to expand business in Hungary and the EU.

Asia Centre sales manager Luu Tien Chinh said Hungary needed to import several items that Viet Nam could supply, including coffee, tea, pepper, rice, footwear, clothes, textile and garments, foodstuff processing material, audio-visual and electronic equipment, frozen seafood and furniture.

"Hungary imposes a corporate tax of just 16 per cent while it has an investment environment rated as the best in central and eastern Europe," he said.

The central European nation also boasted a highly qualified workforce, he added.

Hungary has emerged as the most competitive country in central and eastern Europe based on such economic indicators as risk, competitiveness, economic efficiency, tariff, social insurance and infrastructure, according to the manager.

Chinh said Vietnamese businesses could take advantage of Hungary's favourable position in central Europe on the north-south and east-west transport corridors to expand businesses, since it would be very convenient to travel and transport goods in the region.



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