Agreement supports European firms’ investment in Vietnam
A cooperation agreement was signed between the Ministry of Foreign Affairs and the European Chamber of Commerce in Vietnam , aiming to support European investors in Vietnam
A cooperation agreement was signed between the Ministry of Foreign Affairs and the European Chamber of Commerce in Vietnam , aiming to support European investors in Vietnam and promoting Vietnam’s exports to European markets.
Addressing the signing ceremony in Hanoi on October 26, Deputy Foreign Minister Le Hoai Trung revealed that Vietnam plans to complete negotiations on seven trade agreements in 2015-2016, thus forming a system of 15 trade agreements with over 57 partners worldwide, including 11 strategic partners of the country.
Once completed, the trade deals are expected to open up vast markets for Vietnamese exporters as well as attract foreign investment into the country, he stressed.
The Ministry has established a Department for Local Foreign Affairs, which is responsible for working with localities to remove legal obstacles thus facilitating foreign investment in Vietnam and Vietnamese firms’ exports to foreign market, Trung said.
Many provinces and cities across the country have perfected preferential policies for foreign-invested enterprises, he noted.
Commenting on investment advantages in Vietnam, Head of the European Union Delegation in Vietnam Bruno Angelet affirmed Europe considers Vietnam as one of the 13 strategic and high-advantage markets in Asia.
Vietnam is home to 1,600 projects worth 1.9 billion USD run by over 800 European businesses in a wide range of fields.
Angelet forecasted that EU investments in Vietnam along with trade turnover between Vietnam and Europe are likely to witness a remarkable growth in the coming time as Vietnam and the EU have lifted their ties to an equal and comprehensive partnership and the Vietnam-Europe trade agreement is scheduled to become effective by the end of 2016.
European businesses are interested in financial service, logistics, manufacturing industry and education in Vietnam, he added.-VNA
Claudio Dordi, Chief Advisor of the EU-MUTRAP has suggested Vietnamese garment-textile and leather footwear businesses pay more attention to product origin rules and increase distribution channels.
Experts pointed out opportunities and challenges facing local businesses and authorities once an FTA between Vietnam and the EU is signed while at a seminar in Ho Chi Minh City on October 26.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
The signing ceremony (Source: //www.tin247.com)
