On the afternoon of March 2, Prime Minister Pham Minh Chinh chaired a discussion with large European corporations and enterprises.
Vietnam - EU trade turnover in 2024 will reach 68 billion USD, an increase of 16% compared to 2023. The EU is the 4th largest trading partner and 5th largest investor of Vietnam with a total accumulated investment capital of over 30 billion USD. The EU is also the leading ODA donor for Vietnam (the aid budget for Vietnam in the period 2021-2024 is 210 million Euros).
Ambassador, Head of the EU Delegation to Vietnam Julien Guerrier emphasized that European businesses believe in Vietnam's potential; not only doing business but also ready to attract more investors to Vietnam.
Prime Minister Pham Minh Chinh chaired a discussion with major European corporations and businesses. Photo: VGP
The Ambassador assessed that the recent reforms of the Vietnamese Government are extremely decisive and impressive in order to have clear and predictable legal frameworks and rules.
The year 2025 marks the 35th anniversary of the establishment of EU-Vietnam diplomatic relations, which is a great opportunity to take bilateral relations further and to a higher level. He said that a number of senior EU officials, including President of the European Commission (EC) Ursula Von der Leyen, plan to prioritize visiting Vietnam.
Chairman of the European Chamber of Commerce in Vietnam (EuroCham) Bruno Jaspaert said that he considers Vietnam his second home; sharing that all investors want stability and consistency from policies.
75% of European businesses surveyed recommended choosing Vietnam as an investment destination. Mr. Bruno Jaspaert suggested that Vietnam needs to promote more strongly so that the world knows that Vietnam is not only a tourist destination but also an attractive investment and business destination.
Speaking, Prime Minister Pham Minh Chinh assessed that Vietnam-EU relations have never been as good as they are now after 35 years of establishing diplomatic relations. The Prime Minister highly appreciated the investment and business activities of EU enterprises in Vietnam, as well as the EU's development aid to Vietnam.
However, this result is still modest compared to the expectations and wishes of both sides, the potential of the EU and the conditions, potential and strengths of Vietnam.
The Prime Minister affirmed that the Vietnamese Government is committed to ensuring that the foreign-invested economic sector is an important component of the Vietnamese economy; committed to ensuring the legitimate and legal rights and interests of investors... Photo: VGP
In 2025, Vietnam aims to achieve GDP growth of 8% or more and reach double digits in the coming years to achieve two 100-year goals, becoming a developed, high-income country by 2045. Vietnam will build and develop into a major economic, trade and investment center in Southeast Asia from now until 2030.
The Prime Minister hopes that EU businesses will respond, participate, and accompany Vietnam to achieve the goal of high growth, rapid but sustainable development, bringing benefits to businesses, people, and bilateral relations.
The Prime Minister said that with the recommendations of enterprises, "what is right, beneficial to the operations of investors, and harmonizes the interests of both sides must definitely be handled, no matter how difficult it is, it must be done."
Vietnam is focusing on drastically and synchronously implementing many groups of solutions, promoting strategic breakthroughs (in institutions, infrastructure, human resources) in the spirit of "open institutions, smooth infrastructure, smart governance and human resources", people are the decisive factor for development.
Continue to promote administrative procedure reform, including cutting at least 30% of administrative procedures, 30% of administrative procedure implementation time, 30% of business costs, and harmonizing with EU regulations.
Vietnam is carrying out a revolution in organizational structure, reducing intermediaries, eliminating the request-grant mechanism, promoting decentralization and delegation of power in the direction of streamlining, compactness, strength, efficiency, effectiveness and efficiency. In addition, it is rearranging administrative boundaries of localities to create a new, larger development space and promoting digital transformation to carry out administrative procedures regardless of administrative boundaries; reducing inconvenience, harassment, costs and time for people and businesses...
The Prime Minister suggested that EU enterprises expand production and business, further increase high-quality investment, promote the transfer of advanced technology and support human resource training for Vietnam, especially in new fields, and cooperate to improve management capacity...
Prime Minister and delegates attending the seminar. Photo: VGP
At the same time, the Prime Minister also proposed to continue strengthening cooperation between the business communities of the two countries, creating conditions for Vietnamese enterprises to participate more deeply in the global supply chain of EU enterprises; making Vietnam a long-term production, business and investment base for EU enterprises in the region.
The Prime Minister suggested that EU businesses increase policy advice and institutional building for the Vietnamese Government; businesses of the two countries promote dialogue mechanisms between the Government and the business community, periodically connect businesses... in the spirit of "what is said must be done, what is committed must be implemented, what is implemented must have quantifiable results".
Vietnamnet.vn
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