Vietnam urged to improve policies for effective implementation of EVFTA

EuroCham is committed to supporting the Vietnamese Government in setting up a sustainable development roadmap to bring better investment opportunities in the future for the business communities of the two sides, he added.

Vietnam urged to improve policies for effective implementation of EVFTA hinh anh 1

Improving the policy system and legal framework based on international trade practice is one of the important factors for Vietnam to integrate more deeply into the global value chains and attract investment capital from Europe as well as create a level playing field for domestic and foreign enterprises, Ambassador Giorgio Aliberti, Head of the European Union Delegation to Vietnam, has said.

Up to 35 percent of European business leaders see administrative procedures as a barrier in the implementation of the European Union - Vietnam Free Trade Agreement (EVFTA), according to the 2021 White Book released recently by the European Chamber of Commerce (EuroCham) in Vietnam.

Aliberti said that there is great investment potential from the European Union, especially in high-value sectors.

EuroCham is committed to supporting the Vietnamese Government in setting up a sustainable development roadmap to bring better investment opportunities in the future for the business communities of the two sides, he added.

 

In early 2021, European business leaders made a positive and optimistic assessment about Vietnam’s trade and investment environment. The Business Climate Index (BCI) of Vietnam reached 73.9 points in the first quarter of this year, the highest score recorded since the third quarter of 2019, before the COVID-19 pandemic hit global trade and investment.

However, the fourth wave of COVID-19 infections in many provinces and cities across the country caused the BCI to drop by nearly 30 points in the second quarter of this year to only 45.8 points.

According to Aliberti, the outbreak of the pandemic led to certain disruptions during the social distancing period in Vietnam and other countries in the region. However, Vietnam has made remarkable reforms to implement the EVFTA such as its efforts related to certification of origin and geographical indications with very specific improvements, he said, adding that this is a very important starting point.

The official said the EU and Vietnam will witness the opening of their markets along with tariff reductions, opening a new wave of trade for the business communities of the two sides in the future. If the two sides cooperate to solve difficulties, the post-pandemic recovery will quickly achieve desirable results, towards a brighter and more prosperous future in the relationship between Vietnam and the EU, he said./.

Source: VNA

 
 

Other News

.
Largest-ever support package to strengthen farmers
Largest-ever support package to strengthen farmers
BUSINESSicon  11/01/2022 

The Government has just submitted a support package of VND350 trillion (US$15.43 billion) for socio-economic recovery and development to the National Assembly.

Real estate market anxiously awaits new regulations
Real estate market anxiously awaits new regulations
FEATUREicon  10/01/2022 

The National Assembly this morning began discussing the amending of eight laws.

Tet online sales kick off one month before Tet
Tet online sales kick off one month before Tet
FEATUREicon  10/01/2022 

Everything now can be purchased online, from food for Tet parties to smartphones.

Positive indicators light up footwear trade to US
Positive indicators light up footwear trade to US
BUSINESSicon  10/01/2022 

Vietnam is emerging as one of the largest suppliers of footwear and leather accessories to the United States, opening more opportunities for domestic companies to exploit the world’s largest market for these goods.

Goods congestion at border gates needs to be solved before Tet: Deputy PM
Goods congestion at border gates needs to be solved before Tet: Deputy PM
BUSINESSicon  10/01/2022 

Deputy Prime Minister Le Van Thanh has requested ministries, sectors and localities to closely coordinate with Chinese agencies to speed up customs clearance, striving to have no congestion of cargo trucks at border gates before Tet.

HCM City businesses overcome economic 'storm'
HCM City businesses overcome economic 'storm'
BUSINESSicon  10/01/2022 

Many enterprises in HCM City have successfully contributed to the economic recovery and development of the city after the pandemic.

VIETNAM BUSINESS NEWS JANUARY 10
VIETNAM BUSINESS NEWS JANUARY 10
BUSINESSicon  10/01/2022 

Gov’t sets deadline for completion of Long Thanh airport

Positive outlook for insurance stocks as 2022 arrives
Positive outlook for insurance stocks as 2022 arrives
BUSINESSicon  09/01/2022 

State capital divestment planning and the removal of limitations on foreign ownership are expected to drive insurance stocks to flourish in 2022.

AmCham Vietnam to promote increased trade and investment ties in Vietnam
AmCham Vietnam to promote increased trade and investment ties in Vietnam
BUSINESSicon  09/01/2022 

AmCham will continue to work on lowering barriers to trade and creating a high-standard, transparent, and stable business environment in Vietnam.

Economic prospects for the world and Vietnam
Economic prospects for the world and Vietnam
BUSINESSicon  09/01/2022 

The severity and persistence of inflation worldwide have surprised most central banks and organizations that offer economic forecasts. 

Hanoi completes nearly 546,000 square meters of floor area in 2021
Hanoi completes nearly 546,000 square meters of floor area in 2021
BUSINESSicon  09/01/2022 

Despite the ongoing impacts of the Covid-19 pandemic, housing development is still being promoted.

Vietnam's seafood exports beat yearly target, rake in US$8.9 billion
Vietnam's seafood exports beat yearly target, rake in US$8.9 billion
BUSINESSicon  08/01/2022 

Thanks to large-scale production in the last months of 2021, the seafood export value for the whole year rose 6% compared to 2021 reaching more than US$8.9 billion.

First US firm orders 100 VinFast electric cars at CES 2022
First US firm orders 100 VinFast electric cars at CES 2022
BUSINESSicon  08/01/2022 

Artemis DNA has become the first US firm to place an order to purchase 100 electric cars of VinFast following the Vietnamese automaker’s new model debut at the technology exhibition CES 2022 in Las Vegas (USA).

Vietnam becomes major manufacturer of Nike sports shoes
Vietnam becomes major manufacturer of Nike sports shoes
BUSINESSicon  08/01/2022 

Vietnam has surpassed China to become the major manufacturer of Nike sports shoes.

Vietnamese banks facing bad debt increases
Vietnamese banks facing bad debt increases
BUSINESSicon  08/01/2022 

Despite the negative impacts of the Covid-19 pandemic, the credit of the country economy in 2021 witnessed an increase of 13 percent compared to last year. The bad news is an unavoidable rise of bad debts in many banks.

Prices escalate, people rush to hunt for land in hot market
Prices escalate, people rush to hunt for land in hot market
FEATUREicon  10/01/2022 

Price escalation is occurring everywhere, from rural to urban areas. People are buying land at surprisingly high prices.

After 10 years of ups and downs, major players return
After 10 years of ups and downs, major players return
FEATUREicon  10/01/2022 

Dang Thi Hoang Yen, Dang Thanh Tam, Doan Nguyen Duc (Boss Duc) and Nguyen Duc Huong all have made impressive comebacks after a period of difficulties.

Drug trader, businesswoman, and young PhD pay heavy price for crimes
Drug trader, businesswoman, and young PhD pay heavy price for crimes
FEATUREicon  08/01/2022 

Many well-known businesspeople have ended up in prison.

VIETNAM BUSINESS NEWS JANUARY 8
VIETNAM BUSINESS NEWS JANUARY 8
BUSINESSicon  08/01/2022 

China reopens one more border gate with Vietnam

Solar and wind power: the race among investors
Solar and wind power: the race among investors
FEATUREicon  10/01/2022 

The Feed in Tariff (FIT) incentive helps attract a private investors but there are still bottlenecks that causes them to hesitate to pour money into solar and wind power projects.

 
 
 
Leave your comment on an article

OR QUICK LOGIN