Belgian and European firms reiterate support for the EVFTA

Deputy PM Vuong Dinh Hue speaks at the forum - Credit: VGP

Deputy Prime Minister Hue made an important speech at the forum where he detailed Vietnam’s socio-economic development plans and highlighted the country’s role in connecting European firms with the Asia–Pacific market.

Hue said that the Vietnamese Government pledges to continue building a transparent and welcoming investment environment for investors.

Regarding opportunities that the the Vietnam – EU Free Trade Agreement (EVFTA) create for enterprises of both sides, Hue encouraged Belgian and European firms to hasten the agreement, adding that they should invest in the sectors of common interest, particularly manufacturing, hi-tech, infrastructure, environment, finance – banking, agro-forestry-fishery, food processing, energy, ICT and pharmaceuticals.

The Deputy PM called on investors to study opportunities in order to become strategic partners of Vietnamese state-owned enterprises during the equitisation and divestment process.

“Nothing can get in the way of boosting the relations between Vietnam and Belgium, as well as the EU in general, in a more forceful manner”, he said.

Participants at the forum - Photo: VGP

At the forum, Belgian and European enterprises expressed their admiration for the socio-economic achievements Vietnam has made over the years. They also showed their interest in investment opportunities in Vietnam and noted the country’s important position in business links between the EU and Asia – Pacific.

They also made recommendations to improve the Vietnamese investment climate, including strengthening dialogues between the Government and enterprises. Most participants lauded the potential role of EVFTA in creating a legal framework and opportunities for firms of both sides.

On the same day, the Vietnamese official had separate meetings with leaders of a number of groups, namely the Beverage AB InBev Group and the steel wire transformation and coatings Bekaert S.A Group of Belgium and Pharma Group Vietnam.

During the meetings, he informed the groups of Vietnam’s policies on developing sectors relevant to them and encouraged them to connect with Vietnamese firms in order to expand their operations in the country.

The groups praised the measures Vietnam has taken to create a favourable business environment for foreign investors. They also reiterated their support for putting the EVFTA into effect as soon as possible and will convey this message to the governments of EU member states.