September 18, 2019

EuroCham Supports Promoting Overseas Vietnamese Resources to Support City Enterprises in Preparation for the EVFTA

On the 12th of September, Mr. Jean-Jacques Bouflet, EuroCham Vice-Chairman, spoke about the EVFTA and highlighted upcoming opportunities and challenges for Vietnam. Mr. Bouflet was speaking at a conference organised by Overseas Vietnamese Committees (OVC) to promote the resources of overseas Vietnamese to support enterprises in HCMC in their involvement with the EVFTA.

 
The event was also attended by Mr. Le Thanh Liem – Standing Vice Chairman of Ho Chi Minh City People’s Committee. In his speech, HCMC was introduced as one of the leading localities in terms of GDP growth rate, contributing about 24% of the nation’s gross domestic product, 28% of the national revenue budget, 16% of industrial output and 15% of a total import-export turnover. Until now, HCMC attracted over 8000 FDI projects with total investment of approximately $45 billion, making the city the most appealing investment destination. Therefore, the private sector has gradually become a crucial driving force stimulating economic growth by contributing more than 55% of GDP and accounting for 72% of the total investment capital of the whole country. H.E. Mr. Liem stated that HCMC could not have achieved these results without the support and contribution of the overseas business community.
He also affirmed that the EVFTA is the key for Vietnamese enterprises gaining access to the EU market. To take full advantage of the opportunities brought by this comprehensive agreement, the overseas business community with many years living abroad as an important resource will provide and share valuable information, international experience and feasible and innovative ideas to help domestic firms optimise the benefits of the EVFTA.

H.E. Mr. Le Thanh Liem presented at the Conference

Speaking on behalf of EuroCham, Vice-Chairman Jean-Jacques Bouflet highlighted the timeline of tariff reduction once the trade deal is ratified and implemented. The FTA, as one of the most comprehensive trade agreements signed by the EU with a developing country, not only helps to unlock future trade and investment but also improves the competitiveness of Vietnam’s economy and facilitates its integration into the global economy. However, he affirmed that the EU is a fastidious market with stringent requirements on rules of origin, fair trade, high technical standards with a focus on production processes and environmental protection. Vietnam should be well-prepared to stand ready to seize the full opportunities of this new generation agreement.

Mr. Jean-Jacques Bouflet, Vice-Chairman of EuroCham, presented opportunities that the EVFTA would offer

In the plenary session, Mr. Bouflet also informed the audience about the investment status of European businesses in Ho Chi Minh City which has recently received around $44 billion. According to the HCMC Department of Planning and Investment, information shared to EuroCham in March 2019, the city currently has about 1,100 active projects invested by European companies, with a total investment capital of $3.86 billion. HCMC has chosen 2019 to be the year of administrative reforms and further implementation of Resolution 54 piloting special mechanism for HCMC. Therefore, it welcomes further investments from the EU to develop a smart and innovative city. EuroCham is also working very closely with the Customs and Tax authorities to ease difficulties in administrative procedures for companies and to facilitate the upcoming trade & investment boost coming with the EVFTA.

Speakers answered the questions around EVFTA topics

More News

See all

April 19, 2024

[CORPORATE PARTNERS] BASF to showcase sustainable additive solutions at CHINAPLAS 2024

Read more

April 19, 2024

[Event recap] EuroCham’s Tourism & Hospitality Sector Committee’s “Travel Together” event emphasizes collaboration for a sustainable tourism future

Read more

April 19, 2024

EuroCham’s Construction Sector Committee and the Ministry of Construction’s International Cooperation Department forge stronger ties

Read more

April 19, 2024

EuroCham meets with the Electricity Regulatory Authority of Vietnam to discuss renewable energy policies

Read more

April 12, 2024

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

Read more

April 12, 2024

EuroCham Construction Sector Committee shares insights on sustainable urban development at CCIFV’s Build2Last conference

Read more

April 12, 2024

EuroCham advocates for Sustainable Agriculture at a meeting with Ministry of Agriculture and Rural Development (MARD)

Read more

April 12, 2024

EuroCham advocates for green transformation policy at Vietnam Connect Forum 2024

Read more

April 12, 2024

EuroCham delegation visits Cam Ranh, explores investment opportunities

Read more

April 12, 2024

CEEC and EuroCham forge business partnerships between Estonia and Vietnam

Read more

April 09, 2024

EuroCham Hosts First Meeting of Administrative Procedure Reform (ACAPR) Committee on Reform

Read more

April 07, 2024

Vietnam’s economic rise fuels European optimism, yet regulatory hurdles persist: EuroCham Vietnam’s Business Confidence Index

Read more

April 05, 2024

EuroCham Wine and Spirits Sector Committee Calls for Support of Extended Producer Responsibility at Vietnam Expo 2024’s Seminar

Read more

April 05, 2024

European Business Organization Worldwide Network (EBO WN) Convenes Regional Meeting, Hosts EU Ambassador and Minister Counsellor

Read more

April 04, 2024

[Supported News] BASF to showcase sustainable additive solutions at CHINAPLAS 2024

Read more

April 04, 2024

[Sector Committee Spotlight] Wine & Spirits Sector Committee

Read more

March 29, 2024

EuroCham’s Tourism & Hospitality Sector Committee contributes to a Meet the Experts conference

Read more

March 29, 2024

EuroCham joins Dong Nai dialogue with Foreign Investors

Read more

March 29, 2024

Unveiling EuroCham’s 2024 Board of Directors under the leadership of Chairman Dominik Meichle

Read more

March 29, 2024

Celebrating achievements and unveiling our 2024 roadmap at the EuroCham Annual General Meeting

Read more

March 29, 2024

EuroCham attends Vietnam Association of Foreign Invested Enterprises’ FDI report announcement ceremony

Read more

March 29, 2024

EuroCham shares insights on European digital market at ministry roundtable

Read more

March 29, 2024

[Supported News] CHINAPLAS 2024: BASF showcases consumer products made with bio-based materials, co-created with Huawei & Prohero

Read more

March 29, 2024

[Work @ EuroCham] Green Growth Sector Committee Intern – based in Ho Chi Minh City

Read more

March 25, 2024

[Event recap] Seminar “LeaderShift to Win”

Read more

March 22, 2024

[Event recap] Webinar Job Market in Vietnam 2024: navigating the 2024 Vietnamese job market – insights and expert perspectives

Read more

March 22, 2024

EuroCham keeps up the momentum at the 2024 Vietnam Business Forum

Read more

March 22, 2024

EuroCham voices member concerns at consultation meeting on electricity generation pricing

Read more

March 22, 2024

EuroCham participates in ACAPR training to enhance administrative efficiency

Read more

March 22, 2024

EuroCham Vietnam reflects on five years of Decree 15 implementation on food safety

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