October 05, 2018

Eurocham EVFTA Report 2018 released

Nine out of ten European companies want the EU-Vietnam Free Trade Agreement (EVFTA) to be implemented in 2019 or as soon as possible thereafter, according to new research from the European Chamber of Commerce in Vietnam (EuroCham).

 
EuroCham released the data at an event in Brussels to launch its latest report – The EVFTA: Perspectives from Vietnam – on Monday 8th October, together with amfori and BusinessEurope. This launch event, with 70 participants, is part of a EuroCham mission to the European Parliament and European Commission to push for a quick ratification of the EVFTA.

 
EuroCham’s report includes the results of a new survey of the Chamber’s members, who were asked how the EVFTA will affect their business operations. Over 130 responded – more than 10 percent of EuroCham’s membership – and the results were striking.
 
Just under 80 percent believe that the EVFTA will have either a ‘Significant’ or ‘Moderate’ impact on their business in the medium and long-term. Meanwhile, over 80 percent believe that the FTA will make Vietnam more competitive, while 72 percent said that it will help Vietnam to become a hub for European business in the ASEAN region.
 
On top of the positive economic benefits, EuroCham members believe that the EVFTA will help to improve a range of social and environmental issues in Vietnam, from ‘Knowledge Transfer and Local Workforce Advancement’ to ‘Workers’ Rights’. For example, a third (33 percent) of EuroCham members believe that the EVFTA will have a ‘Significant’ impact on improving ‘Sustainable Development and Environmental Protection’.
 
The report also includes the reflections of business leaders, NGOs, economists, entrepreneurs and workers. In their own words, each contributor shares their personal perspective on Vietnam’s progress since the Doi Moi reforms first opened Vietnam to foreign investment, and on how the EVFTA will help Vietnam to further integrate with the international community and global economy.
 
Nicolas Audier, Co-Chairman of EuroCham, said:
 
“This report provides clear evidence that the EVFTA is a ‘win-win’ for Europe and Vietnam. Our members paint a positive, optimistic picture of the agreement, with 85 percent anticipating a significant or moderate impact on their business and investment plans in the long-term.
 
Meanwhile, 80 percent of EuroCham members believe the EVFTA will improve Vietnam’s competitiveness compared to other countries such as China, Japan and Korea. And over 70 percent see Vietnam becoming a hub for European business in the ASEAN region.
 
This week, EuroCham is leading a delegation of business leaders to Brussels to take this positive message to the heart of Europe. Our delegation will meet with the highest levels of decision making in the European Parliament and EU Commission, to highlight the impact that the EVFTA will have not just on bilateral trade and investment, but on the entire economic, social and environmental fabric of Vietnam.”

Download your free soft copy HERE

Please click here for Media Coverage Report

VOVWorld

Saigon Times (print newspaper)

Viet Nam News (print newspaper)

Bao Cong thuong

VOV

VN Express

Hanoi Times

Binh Phuoc Online

Hai quan Online

Vietnam Finance

Thoi bao Tai chinh Viet Nam Online

An ninh Thu Do

Phap luat Viet Nam

Kiem toan Nha nuoc

The Leader

Bnews

Doanh nghiep Viet Nam 

The gioi Hoi nhap

VTV.vn

Bao Ba ria Vung tau

StockBiz

Tap chi Tai chinh

Bao Da Nang

Thuong giao Online

Lao dong Xa hoi

More News

See all

February 16, 2024

[Work @ EuroCham] GEFE EXHIBITION PROJECT MANAGER – based in Ho Chi Minh City

Read more

February 15, 2024

[Work @ EuroCham] Operations Officer – based in Central Vietnam

Read more

January 30, 2024

[Work @ EuroCham] GREEN GROWTH SECTOR COMMITTEE & SUSTAINABLE FINANCE SECTOR COMMITTEE INTERN – based in Ho Chi Minh

Read more

January 26, 2024

EuroCham and VAFIE Discuss EU Investment Trends and Challenges in Vietnam

Read more

January 26, 2024

EuroCham Vietnam and Ho Chi Minh City unite for sustainability

Read more

January 26, 2024

EuroCham’s Construction Sector Committee: spearheading sustainable development in Vietnam’s construction industry

Read more

January 26, 2024

[CORPORATE SUPPORT] A smart factory for smart materials: BASF celebrates the inauguration of its TPU plant at the Zhanjiang Verbund site

Read more

January 24, 2024

EuroCham Vietnam and Ho Chi Minh City unite for sustainability

Read more

January 24, 2024

[CORPORATE PARTNER] PwC – Asia Pacific climate actions not on track: Moving beyond commitment and towards transformation

Read more

January 19, 2024

[EXTENDED DEADLINE] [Work @ EuroCham] GEFE Project Officer and GEFE Project MarCom Officer – based in Ho Chi Minh

Read more

January 19, 2024

Economic Insights Unveiled at “Economic Outlook 2024” Business Luncheon organized by EuroCham and BritCham

Read more

January 19, 2024

EuroCham Vietnam’s latest Whitebook proposes recommendations for boosting investment for a greener, more sustainable economy

Read more

January 19, 2024

[SUPPORTED CONTENT] PWC recently launched report on the impact of Corporate Sustainability Reporting Directive (CSRD)

Read more

January 19, 2024

EuroCham Construction Sector Committee Meets with Ministry of Construction to Foster Industry Dialogue

Read more

January 18, 2024

High-Level Hungarian delegation meets with EuroCham Vietnam, CEEC, and Consulate General of Hungary

Read more

January 12, 2024

EuroCham Rings in 2024 with Festive Celebration in Hanoi

Read more

January 12, 2024

Ringing in 2024 with Cheer at EuroCham’s New Year Celebration in Ho Chi Minh

Read more

January 05, 2024

Successful EuroCham Vietnam advocacy outcome regarding Circular on Nutritional Labeling

Read more

January 05, 2024

Vietnam’s business confidence gains traction in Q4 2023 amid challenges: EuroCham Vietnam Business Confidence Index (BCI)

Read more

January 05, 2024

Vice-Chairman Minh Nguyen continues tenure on Prime Minister’s Advisory Council for Administrative Procedures Reform

Read more

December 19, 2023

[Work @ EuroCham] MEMBERSHIP ASSISTANT – based in Ho Chi Minh

Read more

December 19, 2023

EuroCham’s constructive engagement at the Ministry of Foreign Affairs’ 21st National Conference on Provincial Affairs

Read more

December 15, 2023

Memorandum of understanding signing ceremony on enhancing the regulatory environment and healthcare access towards promoting technological advancements in the medical device sector

Read more

December 15, 2023

[Sector Committee Spotlight] Mobility Sector Committee

Read more

December 15, 2023

EuroCham’s mission to Da Nang: strengthening ties and showcasing investment potential in Central Vietnam

Read more

December 14, 2023

[CORPORATE PARTNER] BASF launches Irgastab® PUR 71, a cutting-edge antioxidant improving regulatory compliance and performance for polyols and polyurethane foams

Read more

December 08, 2023

[CORPORATE PARTNERS] BASF engages young minds in chemistry with two new Virtual Lab experiments in Vietnamese

Read more

December 08, 2023

[Event Recap][Breakfast talk] EuroCham Construction Sector Committee’s Successful HCMC Breakfast Talk on Designing with AI!

Read more

December 08, 2023

Vietnam enhances climate role at COP28 with JETP Resource Mobilization Plan

Read more

December 08, 2023

[CORPORATE PARTNERS] The Corporate Sustainability Reporting Directive (CSRD) is resetting the value-creation agenda

Read more

Pour une expérience optimale, veuillez tenir votre mobile à la verticale !

Platinum Partners

Gold Premium Partners

Gold Partners

Silver Partners

Premium Service Partners