(VNA): Hungarian Prime Minister Ferenc Gyurcsany has urged Hungarian and Vietnamese entrepreneurs to penetrate into one another's market, as the door is wide open to them.

Speaking at the Vietnam-Hungary Business Forum in Hanoi on July 21, the Hungarian leader affirmed that his country, like other 24 members of the European Union, exercises an economic development policy that ensures an equal playground between local and foreign businesses.

The business forum, organised during the official four-day visit to Vietnam by Prime Minister Gyurcsany, drew the participation of deputy president of the Vietnam Chamber of Commerce and Industry Doan Duy Khuong, Hungarian Ambassador to Vietnam Szasz Denes, and a large number of representatives of the two countries' business circles.

On the sidelines of the forum, Dees Gyorgy, head of Ahead Corporation's advisory board, stressed the importance of trade promotion activities, including the exchange of information. He said his corporation will focus on these activities to expand co-operation with Vietnam in the areas of information technology, agriculture, and heavy industries.

Ahead will open a representative office in Vietnam in the near future, Mr Gyorgy said, adding his business has planned to do long-term business in the country.

Kern Josef, executive director of Diagon Co. Ltd., a Hungarian manufacturer of medical equipment, said his company will soon build a plant in Vietnam. Director Josef also said that Diagon has been exploring the Vietnamese market for four years.

Hungary's investment in Vietnam remains modest. By March 2004, Hungary has invested US $3.1 million in three projects in Vietnam, ranking 51st among 62 countries and territories investing in the country.

Vietnam exports coffee, rice, processed farming products, textiles and garments, wood furniture and household electric appliances to Hungary and imports pharmaceuticals and medical equipment.

Hungary has reduced tariffs levied on imports from Vietnam by 50% to attract more Vietnamese businesses.

A number of Vietnamese businesspeople have joined trade promotion activities in Hungary, including a business forum held in Budapest during President Tran Duc Luong's visit to Hungary in May 2004.