Spanish Firms Aim To Boost Business In Vietnam Via Trade Fair

Businesses from Spain's Canarias region will take part in an international trade fair in Vietnam (Vietnam Expo 2008), scheduled from April 9-13, in order to increase their presence in the Southeast Asian nation.

Vietnam is now considered a replacement for neighbouring China in investment due to its lower production costs, particularly in footwear, wooden furniture and garments and textiles, the Canarias region's Santa Cruz de Tenerife province's trade department.

Vietnam needs investment capital of up to US$120 billion in the next five years for infrastructure construction, equipment and machinery manufacturing, which will open doors to foreign investors.

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