VietNamNet Bridge – The European Union’s Vietnam delegation has announced plans for a November 12–13 visit from 50 leading European businesses led by European Commission (EC) Vice President Antonio Tajani.

The visit is intended to promote sustainable development and growth across all economic sectors.

The EU is one of Vietnam’s most important partners - two-way trade turnover surged from 2010’s US$17.75 billion to US$24.29 billion in 2011.

In the first seven months of 2012, it reached US$15.47 billion, up 20.39% over the previous year.

Vietnamese exports to the EU soared by 33.5% in 2011. Foreign direct investment from EU member nations contributed more than 12% of Vietnam’s FDI total for the same year.

The EU’s official development assistance commitments to Vietnam hit a record US$1 billion in 2012. EU investors are present in all important Vietnamese economic sectors, with 562 projects capitalized at US$7.6 billion.

These projects boast high rates of technology and management method transfer, greatly contributing to Vietnam’s economic growth.

Source: VOV