Viet Nam-Bulgaria business forum takes place in Da Nang

The Viet Nam-Bulgaria Business Forum opened in the central city of Da Nang on Tuesday with the attendance of Bulgarian Prime Minister Plamen Vasilev Oresharski, who ended a four day visit to Viet Nam yesterday.

The prime minister said the forum, which was jointly held by the Bulgarian Embassy in Viet Nam and the Viet Nam Chamber of Commerce and Industry branch in Da Nang, offered a chance for businesses of the two countries to set up multifaceted co-operation ties in a more effective manner.


The attendance of 23 Bulgarian companies and 50 Vietnamese businesses based in Da Nang showed their interest in seeking investment chances in either country, according to the prime minister.

In the context of the global economic crisis, the Bulgarian economy was developing, proving its stability, he said, adding that the country considered Viet Nam an important partner.

Prime Minister Oresharski also said he believed that after the event, bilateral ties would flourish between the two countries.

Earlier the same day, the city's leaders met with the Bulgarian Prime Minister.

While briefing the guest of the city's socio-economic achievements and its preferential treatment of foreign investors, Chairman of the People's Committee Van Huu Chien expressed his hope of building close connections and co-operation with Bulgarian partners in many fields, especially trade, investment and tourism.

The city's authorities pledged to support and create favourable conditions for Bulgarian businesses to invest in Da Nang.

During his stay in Viet Nam between April 6-9, the Bulgarian Prime Minister held talks with Prime Minister Nguyen Tan Dung and visited Party General Secretary Nguyen Phu Trong and President Truong Tan Sang.

In the meetings, the two sides agreed to intensify bilateral relations, particularly in the fields of economics, science, education, tourism and defence. They also pledged to implement the new Viet Nam-Bulgaria co-operation model, ahead of a future strategic partnership.

Sustainable management

Viet Nam's PV Oil Lube and Prista Recycling on the same day signed a memorandum of understanding (MoU) on co-operation in managing and treating used oil for developing Viet Nam's waste lubricant market sustainably.

PV Oil Lube is a subsidiary of PV Oil and Prista Recycling is a division of Bulgaria's Prista Oil.

The MoU was signed in the presence of Bulgarian Prime Minister Plamen Vasilve Oresharski.

Speaking at the event, Prime Minister Oresharski stated that environmental issues and protection pose a major challenge to both nations and companies. Applying higher standards for environmental conservation require large funding, thus necessitating greater co-operation between the state and businesses.

The Prime Minister emphasised that Viet Nam was a traditional and important partner of Bulgaria in Asia, and Bulgaria and Bulgarian businesses hoped to further develop ties with Vietnamese partners and were willing to co-operate with Vietnamese companies in managing and treating used oil, the field in which Bulgaria has a lot of experience.

On the same day, PetroVietnam, PV Oil, and Prista Oil held a symposium to share experiences on management, collection, and treatment of used oil for environmental conservation.

PVN Chairman Do Van Hau remarked that almost all countries around the globe had issued strict regulations regarding the treatment and recycling of used oil. In the US, some 1.4 million tonnes of such waste oil is collected and recycled every year to fuel over 50 million vehicles, and in the EU, the number was around 2.5 million tonnes per year.

Hau noted that Viet Nam had only issued rules on collecting and recycling used products in general. Meanwhile, the used oil was still processed using old methods, thereby raising safety, quality, and environmental concerns.

According to Nguyen Xuan Son, the general director of PV Oil, Viet Nam's lubricant market has great potential, which can reach several hundred million tonnes due to the development in its industrial sector. However, many difficulties remain due to a shortage of legal corridors and a lack of experience in the management, collection, and recycling of waste lubricants.

At the symposium, foreign experts also shared their experiences on management and treatment of waste lubricants in Bulgaria, Ukraine, and Uzbekistan in accordance with the EU principles and current international practices.

Prista Oil Managing Director Danko Pavlov explained that the licence for companies to collect and treat used oil was controlled by strict regulations in Bulgaria. Before licensing, the authorities had to inspect the firms' capacity and ensure that their operations met the standards of both Bulgaria and the EU.

Bulgaria has a national system in place to collect and recycle waste lubricants, and the country has assigned local authorities the task to promote the recycling of used oil, he added.