August 06, 2019

EuroCham Vice Chairman Nguyen Hai Minh Speaks at the Conference “EVFTA – Opportunities and Challenges for Businesses in the Aluminum Industry in Vietnam”

On the 23rd of July, the Private Economic Development Research Board (Board IV) under the Advisory Council on Administrative Procedure Reform of the Prime Minister (ACAPR) and the newly-established Vietnam Aluminum Bar Association co-organised a conference on the EU–Vietnam Free Trade Agreement (EVFTA). Attending this conference, EuroCham Vice Chairman Nguyen Hai Minh delivered a speech and participated in the panel discussion about the opportunities and challenges for businesses in Vietnam and how Vietnamese businesses should equip themselves for this new period.

The conference also welcomed the participation of economic expert Bui Kim Thuy, Dr. Vo Tri Thanh, Director of the Institute for Brand and Competitiveness Strategy, Mr. Nguyen Duc Tung, Head of the Office of the Private Economic Development Research Board, and Mr. Florian Beranek, Lead Expert on Societal Responsibility of the United Nations Industrial Development Organisation.

Economic expert Bui Kim Thuy highlighted the origin-related regulations, one of the keys for domestic firms to make full use of the advantages arising from not only the EVFTA, but also other FTAs that Vietnam has signed. Agreeing with this opinion, Dr. Vo Tri Thanh added that Vietnamese enterprises should attach greater importance to overcoming non-economic barriers as stipulated in the EVFTA, while elaborating that they must meet not only quality standards, but also criteria set on environmental impacts and labour.
 
Representing EuroCham, Vice-Chairman Nguyen Hai Minh emphasised that the demand from the EU for imported aluminum is high and Vietnamese enterprises have not yet exploited fully the potential of this market. Currently, exports to the EU only account for 5% of Vietnam’s total exported aluminum. With the EVFTA, the tariffs for various products, including aluminum, will decrease enormously immediately or over time with certain roadmaps. It is a big opportunity for Vietnam in general, and the aluminum industry in particular, to target the broad market of the EU. However, he also agreed with the opinions of other experts, that Vietnamese enterprises have much to do to utilise all the benefits from the FTA. He expressed the same concern about the rules of origin, urging appropriate actions not only from domestic enterprises, but also from the Government, to prevent fraud as well as to protect the local production and consumers.

Mr. Nguyen Duc Tung mentioned that the pace of the country’s international economic integration has been faster than that of institutions and policies. He emphasised that working sessions should be held in order to have an in-depth understanding of the operations and obstacles of local firms. Board IV, based on the outcomes of such sessions, could submit relevant reports to the higher level, i.e., Prime Minister Nguyen Xuan Phuc, for pushing the reform of the policies to support domestic enterprises.

Media coverage:
https://www.businessbreakingnews.net/2019/07/vietnam-aluminium-profile-association-launched/
https://english.vov.vn/economy/vietnamese-firms-urged-to-handle-evfta-noneconomic-barriers-400577.vov

https://bnews.vn/thach-thuc-nao-doi-voi-nganh-nhom-viet-nam-trong-evfta-/128950.html
https://baotintuc.vn/kinh-te/de-tan-dung-uu-the-cua-evfta-can-doi-moi-tu-duy-cua-doanh-nghiep-20190723180559683.htm

https://vov.vn/kinh-te/evfta-day-doanh-nghiep-viet-vuot-hang-rao-phi-kinh-te-935648.vov

More News

See all

May 24, 2024

EuroCham engages in the EU-Vietnam Research & Innovation Community Meeting

Read more

May 24, 2024

EuroCham participated in a consultation on Vietnam’s Direct Power Purchase Agreement Framework

Read more

May 24, 2024

Productive Dialogue at the Law on Standards and Technical regulations Consultation

Read more

May 24, 2024

EuroCham emphasises soft skills and sustainability training at a forum organised by the Ministry of Education and Training

Read more

May 24, 2024

[Sector Committee Spotlight] Transport and Logistics Sector Committee: driving Vietnam’s progress

Read more

May 22, 2024

[CORPORATE PARTNERS] BASF expands its biomass balance portfolio for selected chemical intermediates

Read more

May 22, 2024

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

Read more

May 22, 2024

[Work @ EuroCham] CORPORATE RELATIONS cum MEMBERSHIP EXECUTIVE – based in Ho Chi Minh City

Read more

May 17, 2024

EuroCham convenes collaborative meeting with the EU Ambassador to Vietnam

Read more

May 17, 2024

Traditional Breakfast Commemorates Norwegian Constitution Day’s 210th Anniversary

Read more

May 17, 2024

EuroCham engages in Information Exchange Conference on Power Supply 2024

Read more

May 17, 2024

Welcoming New Members to the EuroCham Family!

Read more

May 17, 2024

EuroCham celebrates Europe Day in Ho Chi Minh City

Read more

May 17, 2024

EuroCham to further enhance Green Synergies with the Global Green Growth Institute (GGGI)

Read more

May 10, 2024

EuroCham congratulates VCCI on the successful launch of the 2023 Provincial Competitiveness Index (PCI) & Provincial Green Index (PGI)

Read more

May 10, 2024

EuroCham continues to engage in administrative reform dialogue with the Prime Minister’s Taskforce on Administrative Procedure Reform

Read more

May 10, 2024

EuroCham Vietnam celebrates European unity on Europe Day

Read more

May 03, 2024

[Sector Committee Spotlight] Nutritional Foods Group (NFG) Sector Committee

Read more

May 02, 2024

[CORPORATE PARTNERS] Nestlé Vietnam promotes initiatives on emission reduction

Read more

April 29, 2024

[Event Recap] EuroCham and PwC Vietnam’s business luncheon on “CSRD and Its Impacts on Businesses in Vietnam”

Read more

April 26, 2024

ASEAN Future Forum envisions sustainable, people-centered growth

Read more

April 26, 2024

EuroCham leaders meet with EU’s Asia-Oceania Working Party

Read more

April 26, 2024

EuroCham Vietnam Board Member Stuart Livesey joins VBF leadership for 2024

Read more

April 26, 2024

EuroCham Vietnam engages in discussions on rooftop solar energy and DPPA mechanism

Read more

April 26, 2024

[CORPORATE PARTNERS] Deutsches Haus Ho Chi Minh City achieves Second LEED Platinum Certifications for Operation and Maintenance as first Building in Vietnam and South East Asia

Read more

April 25, 2024

EuroCham delegation holds strategic meetings with national authorities

Read more

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

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

Platinum Partners

Gold Premium Partners

Gold Partners

Silver Partners

Premium Service Partners