Vietnam - attractive destination for FDI: EuroCham Whitebook 2017

Thursday, 2017-03-02 09:49:35
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Head of the EU Delegation to Vietnam, Bruno Angelet speaks at the ceremony (credit: VNA)
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NDO - Despite existing roadblocks, Vietnam still manages to attract foreign direct investment (FDI) enterprises due to positive developments of the economy, according to the Whitebook 2017 launched by the European Chamber of Commerce in Vietnam (EuroCham) on March 2.

The Whitebook 2017, the 9th edition on trade and investment issues and recommendations, reflects the EuroCham business community's desire to support the Vietnamese Government in developing the current legal framework and a positive business environment in Vietnam for the benefit of companies, investors and society.

With the expansion of market access for foreign investors, FDI inflows are expected to continue to increase, the Whitebook noted.

The publication also suggested the Vietnamese Government focus on four main groups of issues to create further motivation for FDI attraction including improving people's livelihoods, increasing consumer choice, enhancing the competitiveness of Vietnam and completing the legal framework.

The Whitebook reserves one chapter on the outlook of the EU-Vietnam Free Trade Agreement (EUVFTA) as well as the implementation and impacts of this agreement on business activities in Vietnam.

Head of the EU Delegation to Vietnam, Bruno Angelet said that EUVFTA is the most ambitious and comprehensive free trade agreement of the EU, noting that the two sides should prepare all conditions to take advantage of the agreement upon its implementation.

Sharing the same view with Bruno Angelet, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc also emphasised the importance of the EUVFTA.

Loc added that with tens of signed FTA’s and others under negotiation, Vietnam is now a hub connecting the global economy.

The VCCI leader also called on the Government and enterprises of both Vietnam and the EU to form measures to support small and medium-sized enterprises to enhance competitiveness in order to take advantage of the EUVFTA.