The European Chamber of Commerce in Vietnam (EuroCham) has proposed that the Government rapidly digitalize the country’s economy and continue applying information technology to production and various sectors.

Representatives at the event held in Hanoi City on March 14

At a ceremony of the Whitebook launch 2019 and a seminar titled “The EVFTA-Driving Industry Digitalization and Transformation for Vietnam’s Socioeconomic Prosperity” today, March 14, EuroCham also suggested that the Government and universities should closely cooperate to improve the digitalization skills of the workforce. Further, it is necessary to attach great importance to the education and training sectors to equip students with sufficient hi-tech skills and qualifications.

To utilize the benefits of the fourth industrial revolution, EuroCham urged the Government to start adopting solutions to modernize some jobs and tasks, such as operation governance, maintenance, storage of goods, the use of energy and traceability of origin.

Besides this, the Government was urged to continue deploying initiatives such as e-Government, digital economy and society, and to simplify and modernize administrative procedures to pave the path for enterprises and residents.

Addressing the event, Nicolas Audier, Co-Chairman of EuroCham Vietnam, said that with experience and investment models, Europe has been supporting Vietnam in the latter’s modernization process for the past three decades.

Vietnam is seizing a host of opportunities for development in the fourth industrial revolution. As such, all members of EuroCham pledged to assist Vietnam to make the most of its strengths to maximize digitalization efficiency and transformation processes, Nicolas said.

“Vietnam will have the advantage of competing with its rivals and gaining ground in the future, if it makes efforts,” he added.

Speaking at the event, Bruno Angelet, head of the EU Delegation to Vietnam, said that Europe is the largest exporter of goods and processing services in the global market, as well as the biggest market for 80 countries.

“Our key to success is the legal frame based on transparency,” Angelet said, adding that it is imperative to cement the trust of firms and investors.

A system developed by clear regulations has strengthened cooperation between Europe and other countries, making it easy for commercial development, according to Angelet.

Europe remains one of Vietnam’s most important foreign markets. In 2018, the former purchased up to 17% of Vietnamese exports. In addition, the two-way trade of Vietnam and Europe amounted to US$56.3 billion last year, making Europe Vietnam’s fourth largest trade partner.

Meanwhile, Vietnam’s shipment of goods to Europe in 2018 rose by 11% year-on-year. Additionally, European investors poured a total US$1.06 billion into 139 projects in Vietnam last year.

Besides this, the upcoming deployment of the EU-Vietnam Free Trade Agreement (EVFTA) will drive the economic relationship and cooperation between the two countries in the future.

“The commitments in EVFTA were based on transparency, comprehensive growth and a fair and sustainable trade relationship,” Bruno said.

SGT