With the advantages of the EVFTA and EVIPA Agreements, the Vice President of EuroCham is optimistic about Vietnam's opportunity to attract a new wave of FDI from European investors.
Within the framework of the 20th National Foreign Affairs Conference organized by the Ministry of Foreign Affairs, on the afternoon of December 13, 2021, the seminar "Meeting with the Diplomatic Delegation, Foreign Business Associations, connecting localities and businesses Vietnam” took place directly and online with nearly 300 bridge points in Vietnam and internationally.
Speaking at the seminar, Deputy Foreign Minister To Anh Dung said that with the desire to create an open, open and favorable business environment for investors, Vietnam has synchronously promoted efforts to improve domestic institutions and deeply integrated into the world economy.
According to Mr. Dung, Vietnam has joined and signed 17 free trade agreements connecting more than 60 countries, establishing economic relations with more than 230 economies, and is on track to become one of the focal points. network of economic links, affirming the attraction of an economy with high openness and an important link in regional and global value chains.
Prestige, increasingly enhanced position in the international arena is also a plus point for the business and investment environment in Vietnam. By taking on many responsibilities such as a non-permanent member of the United Nations Security Council, the Chairman of ASEAN, and the Chairman of the ASEAN Inter-Parliamentary Council, Vietnam has demonstrated a strong and consistent commitment to the goal of maintaining peace, security, stability and development, the Deputy Minister said.
Despite facing difficulties due to the Covid-19 pandemic in 2020, Vietnam has achieved a great milestone of FDI investment. With a total capital of 16 billion USD, for the first time, Vietnam became one of the 20 leading countries in the world in attracting FDI.
"A dynamic, innovative, responsible and prestigious Vietnam has been, is and will continue to be an attractive and safe investment destination for investors around the world," emphasized Mr. Dung.
According to Torben Minko, Vice President of the European Chamber of Commerce in Vietnam (EuroCham), the EU-Vietnam Free Trade Agreement (EVFTA) opens a new era in Vietnam-EU trade cooperation. , through the gradual elimination of tariffs and the opening of markets.
One year after the EVFTA took effect, Vietnam's export turnover to the EU reached 39.75 billion USD (as of August 1, 2021), up 6.2% over the same period last year. On the EU side, this figure is 16.51 billion USD, up 24% over the same period last year. The competitiveness and market share of Vietnamese goods have also improved significantly in the EU market.
Regarding investment, with a commitment to ensuring transparency and convenience in the investment and business environment, Vietnam has gradually received high-quality investment sources from the EU, with projects with advanced technology, create common values and benefits for the business community of both sides. This investment attraction will be further enhanced when the Vietnam - EU Investment Protection Agreement (EVIPA) comes into effect.
Expressing optimism about Vietnam's opportunity to attract a new wave of FDI from European investors looking for a prosperous, safe and competitive location to invest and do business, Mr. Torben Minko affirmed The advantages brought by the EVFTA make Vietnam more and more attractive to EU investors, creating new opportunities in trade and investment for EU partners.
However, in order to promote the full potential of the EVFTA, Mr. Minko suggested that Vietnam consider challenges such as balancing the trade balance between Vietnam and the EU, continuing to simplify administrative procedures, and upgrading the infrastructure. logistics infrastructure and improving transport connections in Vietnam, and a comprehensive understanding of the preferences and needs of European consumers.
Making a number of proposals for localities to promote investment attraction, Ms. Virginia Foote, President of the American Chamber of Commerce (AmCham) said that Vietnam needs to continue to improve the business environment and accelerate it. the process of building e-government, e-banking...
In addition, invest in training programs to increase the size, qualifications and skills of Vietnamese workers, meeting the demand for skilled and talented workforce.
“As Prime Minister Pham Minh Chinh said at the COP26 Climate Conference in Glasgow, Vietnam is moving towards clean energy. American companies need to see that they have access to clean energy where they invest,” said Virginia Foote.
AmCham Chairman affirmed that the agency will continue to work with Vietnam on issues such as trade facilitation, energy and digital transformation across the country, strengthening ties with localities in Vietnam.
Ky Thanh (baodautu.vn)