(VOVworld) – With its relatively high growth rate and improved income per capita, Vietnam has been offering both opportunities and challenges for Argentine enterprises, said Argentinian economist Julio Sevares.

Article on Vietnam in Argentina’s Clarin newspaper (Source: VNA)

In a story that appeared in Argentina’s Clarin newspaper on Wednesday, Savares hailed Vietnam’s economic achievements in recent years and highlighted cooperation opportunities in trade and investment. Julio Sevares, a professor at the University of Buenos Aires (UBA), also indicated a number of benefits and challenges that Argentinian enterprises face when operating or investing in Vietnam. According to the story, from its historic military victory, Vietnam has gained successes in the economy, and as a result, Argentina has been benefiting from Vietnam’s development by exporting goods and diversifying its products and investment portfolio. Between 2002 and 2014, trade volume between Vietnam and Argentina increased 20-fold to 1.7 billion USD. According to Savares, Argentinian businesses operating in Vietnam have to deal with cultural differences and growing competition from local products. He said Vietnam offers a great opportunity for Argentina, but this will require Argentina’s private and State-owned enterprises to develop and apply a long-term strategy.