At the working session, Mr Phạm Gia Túc, Secretary of the Nam Định Provincial Party Committee, said that in recent years many foreign enterprises have come to invest in Nam Định, including major partners such as the Quanta Computer group and the Toray group.

Secretary of the Nam Định Provincial Party Committee Phạm Gia Túc with Mr Hayden Hape, Chair of the Ngāti Kahungunu ki Tāmaki-nui-a-Rua Trust, and the delegation.

According to Mr Phạm Gia Túc, these groups chose to invest in Nam Định because of its fast investment licensing procedures, which take only 24 hours from receipt of a valid application.

The Provincial Party Secretary affirmed that Nam Định always pays attention to and supports foreign enterprises in quickly completing investment procedures through a one-stop-shop mechanism. This process ensures that procedures are completed in the shortest possible time and that enterprises do not have to pay any service fees beyond those prescribed by regulations.

Moreover, investors are also entitled to preferential policies when they meet the conditions set out in Vietnamese law.

At the working session, Mr Mai Văn Quyết, Director of the Nam Định Department of Planning and Investment, presented a report on behalf of the delegation on the province's investment environment to New Zealand enterprises and investors.

Mr Mai Văn Quyết outlined the province's potential and strengths and investment opportunities in a wide range of sectors, which attracted the interest of New Zealand enterprises.

Speaking at the meeting, Mr Nguyễn Văn Trung, Ambassador Extraordinary and Plenipotentiary of Viet Nam to New Zealand, stressed that Nam Định is one of the localities with high and very impressive economic growth (10.19% in 2023).

The provincial leadership is very dynamic and enthusiastic in attracting foreign direct investment (FDI) from international investors. The Ambassador expressed his confidence that Nam Định Province would create every favourable condition and "roll out the red carpet" to welcome New Zealand enterprises to invest in the time ahead.

At the working session, the New Zealand enterprises showed clear interest and raised many questions regarding legal procedures and the difficulties they might encounter when investing in the province.

All these questions were answered in detail by Nam Định Provincial Party Secretary Phạm Gia Túc, who also called on New Zealand enterprises to consider investing in Nam Định Province.

Ms Amanda Pausina, Market Development Director for South-East Asia at New Zealand Trade and Enterprise, expressed her pleasure and honour at welcoming Nam Định Provincial Party Secretary Phạm Gia Túc.

Ms Amanda Pausina said that Viet Nam is New Zealand's 14th largest trading partner, and that New Zealand needs to import electronic products, garments, footwear and leather goods, wood products, tropical agricultural products and seafood; she was confident that many areas of cooperation between the two sides would be promoted.

She made clear that New Zealand enterprises are not only able to work effectively with Vietnamese partners but also help to promote economic exchanges between the two countries.

According to Ms Amanda Pausina, the working session with the Nam Định provincial leadership was very meaningful and productive, as it showed New Zealand enterprises the province's new sectors and new attractions, thereby opening up opportunities for cooperation and investment between the two sides. Clearly identifying potential areas of cooperation will make it easier to find suitable enterprises.

An overview of the working session.

At the working session, a representative of the Kalandra education group pledged 150 scholarships for students from Nam Định Province to study in New Zealand; the group is also exploring investment and seeking partners to develop resorts and/or healthcare facilities in the province.

According to data from the Asia-Africa Market Department (Ministry of Industry and Trade), Viet Nam is currently New Zealand's 14th largest trading partner, its 13th largest exporter and its 17th largest importer. Meanwhile, New Zealand is Viet Nam's 38th largest trading partner, its 51st largest export market and its 58th largest source of imports. Two-way trade has grown steadily over the years, from USD 300 million in 2009 to USD 750 million in 2013 (an average growth rate of about 20% per year). In 2022, total two-way trade reached USD 1.4 billion, up about 5.7% on 2021. In 2023 it reached USD 1.3 billion, down about 5.6% on 2022.

In terms of investment, as of November 2023 New Zealand had 52 investment projects with total capital of USD 208.35 million, ranking 39th out of 143 countries and territories with foreign direct investment in Viet Nam.