On January 16, in Hanoi, the European Chamber of Commerce in Vietnam (EuroCham) announced the 15th edition of its annual White Book. EuroCham Vietnam's White Book 2024 has the theme "Promoting investment for a green and sustainable economy ".
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| Overview of the ceremony |
The book aims to provide an in-depth look at Vietnam's business policies from the European business community; make recommendations on investment and trade priorities, promoting Vietnam's economic growth in the coming time; and organize a policy dialogue conference between the business community, industry associations and ministries and branches on administrative reform, facilitating production and business activities.
European businesses increase investment in Vietnam
Speaking at the ceremony, Mr. Gabor Fluit - Chairman of EuroCham commented that, although the global economy is in a complicated period of development, the Vietnamese economy has shown its resilience and flexibility. An important sign of this is the increase in investment by European enterprises in Vietnam, demonstrated by the recent announcement of Nestlé Vietnam on its expansion plan worth 100 million USD. Thereby emphasizing the confidence of European enterprises in Vietnam.
Discussing the achievements in cooperation between Vietnam and the European Union, Mr. Julien Guerrier, Ambassador of the European Union to Vietnam, said: Over the years, Vietnam has been an important partner of the European Union in economic issues, digital transformation, green transformation, etc. In particular, EVFTA is not just a free trade agreement. Through the EVFTA framework, we have witnessed an unprecedented level of liberalization of trade in goods and services and new investment opportunities for European and Vietnamese investors.
However, 2024 is forecast to have its own difficulties, Mr. Gabor Fluit said that although Vietnam is expected to lead in GDP growth, the economic environment may not be as favorable as before 2020. Challenges such as slowing exports and imports, complex supply chains and other unforeseen difficulties.
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| EuroCham Vietnam's White Book 2024 is themed "Promoting Investment for a Green and Sustainable Economy" |
Focus on reform and cooperation
Mr. Paul-Antoine Croize, Chairman of the EuroCham Food, Agriculture and Aquaculture Sector Subcommittee (FAABS), said that the EuroCham White Paper identifies practical solutions to support Vietnam in taking advantage of the EVFTA, such as training cooperation, high-impact education programs, targeted capacity investment and partnership consolidation. At the same time, the White Paper provides practical solutions to the challenges European companies face in Vietnam and provides guidance for both policymakers and business leaders as they operate in Vietnam's regulatory and growth environment.
In addition, the Whitebook is not simply a source of information but provides insights to enhance Vietnam’s competitiveness – domestically, in the ASEAN region and in the European market. Covering dozens of sectors in 24 chapters, from healthcare to agriculture, construction to energy, the publication draws on practical expertise from experienced expert teams from EuroCham’s Sector Committees, EuroCham Chairman affirmed.
More broadly, the 2024 White Paper aims to help shape a future where responsible businesses drive innovation and deliver positive benefits for the people and environment of Vietnam. Despite the obstacles ahead, Vietnam and Europe share a strong determination to realise ambitious sustainability goals. Past achievements, combined with a future focus, signal exciting prospects, Gabor Fluit said.
The EuroCham White Paper draws input from EuroCham’s 19 Sector Committees. Each of these Committees acts as a focused group of experts, providing in-depth knowledge and making policy recommendations. The expertise of the expert panel spans a wide range of areas, from the rapidly growing digital economy to green, sustainable growth initiatives. This makes the White Paper not just a collection of research but a practical guide. |
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