DPM meets with European businesses

VGP – Deputy PM Hoang Trung Hai on Wednesday in Ha Noi had a discussion with the European business community in Viet Nam to beef up economic linkages with the EU.

September 26, 2012 4:37 PM GMT+7

Deputy PM Hoang Trung Hai, Ha Noi, September 26, 2012 – Photo: VGP/Nguyen Linh

The event was initiated by the European Chamber of Commerce in Viet Nam (Eurocham) and drew the attendance of the European Commission to Viet Nam, EU Ambassadors and businesses.

Deputy PM Hai said that the Viet Nam-EU relations have been flourishing dynamically since the establishment of their diplomatic ties in 1990 and that Viet Nam always attaches importance to the relations with the EU.

The recent signing of the Partnership and Cooperation Agreement (PCA) has created a legal framework for long-term cooperation between Viet Nam and the EU in general and EU’s member states in particular.

The two sides have launched negotiations for a free trade agreement, which promises to bring about abundant opportunities and economic benefits in terms of trade, export and investment for both sides.

Deputy PM Hai said that Viet Nam will further improve its business environment and support market promotion programs to lure more foreign investors especially those from the EU.

He also made clear major orientations and development management in every sector and the Government’s opinions in resolving difficulties for investors in the new context.

The host leader said he hoped that the EU Ambassadors would continue to give comprehensive supports for more European businesses to penetrate into Viet Nam.

The Vietnamese Government always listens to and creates the best conditions it can for the European business community in Viet Nam, he said, adding “Your success is our success”.

After 11 years, two-way trade turnover rose six-fold from US$4.1 billion in 2000 to US$24.29 billion in 2011.

The bilateral trade has expanded 30% annually amidst the global economic recession and emerging public debt crisis in some countries in the euro zone. ‘

So far, the EU is the third largest trade partner and the second most important export and import market of Viet Nam.

EU’s businesses have invested in 1,687 projects in Viet Nam with a total registered capital of 32 billion, US$13 billion of which was disbursed.

The EU ranks second in ODA provision for Viet Nam with over US$12 billion in the 1996-2011 period in such areas as rural development, poverty reduction, human resource development, healthcare, education and institutional reform.

By Kim Loan