Vietnam, Hungary target $2bn two-way trade, ink 3 cooperative deals

The Hungary-Vietnam relationship is very meaningful as Vietnam is a leading developing country in Asia, Orbán said, hoping that Vietnam would join the group of successful Asian countries soon. Highlighting economic, investment, and trade cooperation as the focuses of the bilateral relations, both sides agreed to push two-way trade to $2 billion in the coming time. In the January-November period of 2023, the bilateral trade reached $785 million, according to the Vietnamese Ministry of Foreign Affairs. In its foreign policies, Vietnam treasures traditional relations with Hungary, the only country in Central Europe that has had a comprehensive partnership with Vietnam so far, Chinh said. According to the Vietnamese foreign ministry, Hungarian investors are operating 15 FDI projects worth $50.66 million in Vietnam, ranking 55th among 105 countries and territories investing in the Southeast Asian country.