March 22, 2024

EuroCham keeps up the momentum at the 2024 Vietnam Business Forum

On 19 March, the annual Vietnam Business Forum (VBF), themed “Pioneer FDI enterprises implementing the Green Growth Strategy” took place in Hanoi. The event saw attendance from Prime Minister Pham Minh Chinh, Minister of Planning and Investment Nguyen Chi Dung, ministerial representatives, diplomatic missions, international organizations, business associations, FDI enterprises, and economic experts.

 

 

 

Pictured above: Prime Minister Chinh, Minister of Planning & Investment Dung, and representatives of the business community, including EuroCham Chairman Gabor Fluit, Vice-Chairman Minh Nguyen and Board Member Søren Pedersen.

 

The VBF fosters ongoing dialogue between the Vietnamese government and the business sector to improve the business environment, stimulate private sector growth, and support sustainable development.

 

At the forum, EuroCham Vietnam Chairman Gabor Fluit articulated the European business community’s ongoing challenges when operating in Vietnam and recommendations for resolving them. 

 

 

Pictured above: EuroCham Chairman Gabor Fluit speaking at the VBF, with Board Member Søren Pedersen sitting to the right. Photo credit to Mekong ASEAN.

 

Key recommendations from EuroCham included:

  • Green Growth Strategies: Emphasis on waste management, public awareness, and innovations against plastic pollution. Initiatives proposed include targeted tax incentives for green practices and recycling plastic in road construction to foster a circular economy.
  • Green Energy Transition: Addressing the slowdown due to procedural ambiguities, infrastructure challenges, and financing shortages. 
  • Extended Producer Responsibility (EPR): Advocating for a two-year, penalty-free phase-in period from 2024 to ensure a balance between economic growth and environmental sustainability without overwhelming businesses.
  • Vietnam Environment Protection Fund Transparency: Calling for open disclosure of fund allocations to ensure accountability and environmental protection.
  • Pharma Law Revision for 2024: Highlighting the challenges faced by pharmaceutical sector members under the foreign-invested enterprise (FIE) model.
  • Tender Law Guidance: The urgent need for guidance on implementing the “self-pay channel” in public hospitals for better healthcare outcomes.
  • Medical Device Import Licenses: Addressing the backlog and upcoming expirations to avoid healthcare delivery disruptions.
  • Tax Policy Consistency: Adherence to the EU-Vietnam Free Trade Agreement principles with suggestions for a hybrid Special Consumption Tax system for wine and spirits, and a freeze on SCT hikes until 2027.
  • Visa Policy Enhancements: Proposals to extend visa exemptions and introduce special visas for broader international engagement.

 

Click here to read Mr. Fluit’s full speech. 

 

Our Board Member and Vice-Chair of the Green Growth Sector Committee, Stuart Livesey, also made an insightful speech at the event. 

 

 

In his address, Mr. Livesey focused on:

  • The findings of an impactful Vietnam Business Forum ESG survey, co-organized with EuroCham’s Green Growth Sector Committee and other allied chambers.
  • The necessity of embedding ESG principles into business strategies, reflecting the global shift towards sustainable and responsible governance

 

Key survey insights highlighted:

  • Financial Commitment to ESG: Over 50% of companies have earmarked budgets for ESG initiatives, underscoring a serious commitment to sustainable growth.
  • Confidence in Vietnam’s Green Future: Just 1/4 of businesses are confident in Vietnam’s dedication to sustainable and green development. Half believe government strategies offer limited to moderate support for meeting their sustainability objectives.

 

We encourage you to read the full report!  Click here to read it in English, or here to read it in Vietnamese.

 

Vice-Chairman Dominik Meichle, speaking on behalf of Bosch Vietnam, EuroCham’s Gold-level Corporate Partner, underscored Bosch’s role as a leading investor in Vietnam, committed to working with the government on human capital development, combating counterfeit products, streamlining permissions and licenses, and improving regulatory frameworks.

 

 

A speech delivered by Dutch Business Association Vietnam Chairman Alexander Koch on behalf of Heineken Vietnam, a Gold-level Corporate Partner of EuroCham. He shared insights on adopting green growth practices, demonstrating how sustainable strategies can be woven into business operations to support Vietnam’s green growth goals.

 

During his comments, Prime Minister Pham Minh Chinh commended the FDI community for its role in overcoming challenges and committed to supporting economic and green growth. He emphasized a collaborative spirit, promising a conducive business environment, development breakthroughs, and enhanced cooperation with investors. 

 

Minister of Planning and Investment Nguyen Chi Dung spoke about the VBF’s significance against the backdrop of the foreign-invested sector’s growing influence on the national economy. Acknowledging green growth as vital for Vietnam’s future, the minister reiterated the government’s commitment to economic restructuring and innovation, aiming for a carbon-neutral economy.

 

On top of that, our organization received an award from Minister Nguyen Chi Dung for our exceptional contributions to facilitating FDI in Vietnam.

 

Vice-Chairs Jean-Jacques Bouflet and Torben Minko, along with Board Members Søren Pedersen and Tri Mai Hoang, were also on hand to represent EuroCham.

 

Click here to access more info and documents from the VBF, including the event’s report, which contains our EuroCham position paper.

 

Our sincere thanks to the Vietnam Business Forum, the Prime Minister and the Ministry of Planning and Investment for another highly productive VBF. We are already anticipating the 2025 VBF and cannot wait to see what progress is made toward improving Vietnam’s business environment between now and then.

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 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

March 15, 2024

EuroCham backs stronger EU-Vietnam logistics ties at Saigon New Port’s 35th Anniversary Celebration

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