<h6><strong>Eduardo González</strong></h6> <h4><strong>The President of the Government Pedro Sánchez shared this Thursday, in Ho Chi Minh City, the economic capital of Vietnam, the experience of Spanish companies in green energy, air connectivity, port infrastructure and railways.</strong></h4> "Spain's foreign vocation and openness to trade" are the driving forces "to strengthen our relations and our presence in a country of future and opportunities like Vietnam," Sánchez declared during the opening of the Spain-Vietnam business meeting, as part of his Asian tour of Vietnam and China to promote investment and bilateral trade amid the "trade war" with the US. In his speech to representatives of dozens of Spanish and Vietnamese companies gathered for this forum, the Prime Minister highlighted "the experience and leadership" of Spanish companies in strategic sectors for Vietnam, such as infrastructure and clean energy. He also highlighted Spain's commitment to the transition to clean energy and its potential in the Vietnamese market. "Spain already generates more than 50% of its electricity from renewable sources, and we want to exceed 80% by 2030," he stated. "Today, Spain is recognized as a leader in promoting the green economy, and for that reason, we are in an unbeatable position to support Vietnam in its own energy transition," he continued. "Our companies can contribute their knowledge, technology, and leadership, as is already happening," he added. Regarding infrastructure, Pedro Sánchez referred to the "success of Spanish companies" in "all modalities": air connectivity, port infrastructure, and, above all, railways, where "Spain is a global leader as the second country with the most extensive high-speed network." "We have everything to contribute to the ambitious modernization roadmap that Vietnam is designing in the area of mobility," he stated. Before this business meeting, the President of the Government participated in a working breakfast with representatives of Spanish companies with interests in the Vietnamese market. He explained to them that during the two-day official visit to Vietnam and the dialogue with its authorities, "significant opportunities" for Spanish companies had been identified. Furthermore, after learning about the interests and projects of Spanish companies in Vietnam, Sánchez conveyed the government's support for promoting investment and trade relations. The second day of the President of the Government's official visit to Vietnam concluded with a meeting with Spanish teachers and students at the National University in Ho Chi Minh City, where approximately 200 students of the language are trained each year. He assured them that Spain will continue to promote the teaching of Spanish in Vietnam. <h5><strong>Financial Protocol</strong></h5> During the first day of the official visit to Vietnam, Pedro Sánchez—who is traveling accompanied by the Minister of Foreign Affairs, José Manuel Albares, and the Minister of Agriculture, Fisheries, and Food, Luis Planas—and the Prime Minister of Vietnam, Pham Minh Chinh, attended the signing of a financial protocol in Hanoi that will support investments by Spanish companies in sectors of special interest (including transportation, infrastructure, energy, and water) to the Asian country through loans from the Fund for the Internationalization of Business (FIEM) of the Spanish Ministry of Economy, amounting to €305 million. This agreement will seek to leverage the advantages of Spanish companies in the Vietnamese government's infrastructure projects in areas such as railways (high-speed rail, urban trains, and metro), water, and renewable energy. “The Spanish company is very interested in expanding its presence in Vietnam in important sectors where we are a global leader, such as railway infrastructure. We hope that our know-how can contribute to the modernization of mobility that Vietnam is designing,” declared Pedro Sánchez in Hanoi. The Prime Minister also highlighted Vietnam's economic growth, which has stood at around six percent annually over the past two decades, “an impressive figure that will lead Vietnam, I am convinced, to become a high-income country by 2050.” “On this path to prosperity, Spain can and wants to accompany you,” he added. The tour will conclude this Friday in China, where Sánchez will make his third visit to the country in just three years. The two previous visits took place in March 2023 (the 50th anniversary of diplomatic relations), during which Sánchez discussed with President Xi Jinping Beijing's twelve-point proposal to end the conflict in Ukraine, and in September 2024, during which he advocated for a negotiated solution to the tariff crisis between China and the EU and during which bilateral agreements on digital trade, services, investments and cultural cooperation were signed.
