April 24, 2023

EuroCham in the News

EuroCham in the News: April 17th April 23rd 2023

 

[VN Express] Pay cuts, layoffs continue as businesses wait on economic recovery.

 

On April 21st, VN express published an article titled “Pay cuts, layoffs continue as businesses wait on economic recovery“. In it, the media describes how businesses are facing a hard time: “Revenues so far this year are more tha 50% down from a year earlier“.

The article also cited the Business Climate Index report for Q1 published recently by EuroCham:

The Business Climate Index report for Q1 by the European Chamber of Commerce in Vietnam (EuroCham) and market research firm Decision Lab do not expect investment or hiring to increase in the second quarter even when businesses’ revenues recover.

 

In order to access the full article (in English), click here.

 

[VN Express] PM pledges support if global minimum tax applied.

 

The following day, VN Express published another article titled “PM pledges support if global minimum tax applied“. In this article, VN Express discusses the Global minimum tax that was agreed upon by G7 member states in 2021.

 

Vietnam analysts worry the additional taxation would deter in foreign direct investors here, many of whom are attracted to Vietnam’s preferential tax policies.

The government would however help companies and investors with land access, costs for scientific research, human ressource training and infrastructure if the tax is applied.

 

In the article the media cited EuroCham at multiple occasions:

Gabor Fluit, chairman of EuroCham, said Vietnam needs bold decisions, innovations and breakthroughs to maintain its growth momentum. “The government should provide support policies that are appropriate and competitive to attract investment,” he said.”

Fluit said clean energy is a catalyst for investment and economic growth, and that European businesses depend a lot on renewable energy. Mechanisms for direct power purchases would allow renewable energy producers, especially factories in industrial complexes, to participate in such mechanisms, he added.”

 

To read the full article (in English), click here.

 

Pictured above: Prime Minister Pham Minh Chinh meets with foreign investors on April 22nd 2023.

 

 

[VTV1] Appearance of EuroCham Chairman Gabor Fluit during Prime Minister’s FDI conference

 

On April 22EuroCham Chairman Gabor Fluit appeared on VTV1 during a segment about the Prime Minister’s FDI conference that was hosted on the same day.

 

During his appearance, part of his speech was played. In it, he emphasized the importance of Vietnam taking bold and decisive steps towards breakthrough reforms in order to sustain growth. He stated that despite being recognized as a rising star in the field of business and investment, there is no room for complacency.

 

If you would like to watch his appearance, please click here and skip to 1 minute and 5 seconds.

 

Pictured above: Chairman Gabor Fluit addressing the audience.

 

 

[VTV1] Appearance of EuroCham Vice- Chairman Torben Minko on current affairs program to talk about Prime Minister’s FDI conference.

 

EuroCham Vice-Chairman Torben Minko was featured on VTV1’s current affairs program at 7pm on April 23. There, he spoke from the Prime Minister’s FDI conference held on April 22 and shared his insights on European business stakeholder confidence.

 

Be sure to click here to watch the full interview and skip to 21 minutes and 31 seconds to hear our Vice-Chairman’s thoughts on Vietnam’s investment potential.

 

Pictured above: EuroCham Vice-Chairman Torben Minko on VTV1 the 23rd of April 2023.

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