EuroCham in the News

EuroCham in the News: April 10th to 16th 2023

[Vietnam Plus] PPP Cooperation helps speed up digital tansformation

On April 14th, Vietnam Plus published an article titled ” PPP cooperation helps speed up digital transformation”. In the article, the media explains how Public-Private Partnership (PPP) cooperation helps speed up green and digital growth.

In the article, Vietnam plus Cited the President of the Digital Sector Committee of EuroCham:

“Pavel Poskakukhin, President of the Digital Sector Committee under the European Chamber of Commerce in Vietnam (Eurocham), emphasized the importance of PPP in supporting digital transformation, saying that for projects at national and local levels, no single business or administration can invest in technology solutions that bring benefits to the economy by themselves.”

To read the entire article on Vietnam Plus, click here.

[VTV1] Chairman Gabor Fluit Detailed the BCI and EuroCham’s Advocacy Orientation

On Thursday April 13th afternoon, EuroCham Chairman Gabor Fluit made an appearance on VTV1 to discuss the Q1 2023 BCI results. During the segment, he expressed that Vietnam remains a highly sought-after destination for FDI among European companies.

To view the entire segment with Mr. Fluit, please click here and skip ahead to the 4-minute and 10-second mark.

[Tuoi Tre] European firms in Vietnam expect legal framework, tax policies to improve.

On April 13th, Tuoi Tre News released an article titled “European firms in Vietnam expect legal framework, tax policies to improve.”

In the article, the media explains the need for an increase in “political stablility, regulatory environment, and lower taxes and tariffs in Vietnam”.

The Business Climate Index (BCI) report published recently by EuroCham has helped measure the attractivity of Vietnam for European business

leaders.

“Vietnam remains an attractive destination for FDI with over three percent more European business leaders choosing the country as one of its top three investment destinations, according to the latest Business Climate Index (BCI) report released by the European Chamber of Commerce in Vietnam (EuroCham) on Tuesday.”

The article also quotes EuroCham Chairman Gabor Fluit to apprehend the end of the year: ““The Vietnamese government takes swift and decisive actions during times of crisis. Therefore, the EuroCham expects more productive measures in the second half of the year,” said EuroCham Vietnam chairman Gabor Fluit”

Click here to read the full article.

[Reuters] Foreign executives cautious over Vietnam investment – EU business body

On April 11th, Reuters, an online worldwide media, has published an article titled “Foreign executives cautious over Vietnam investment – EU business body“. In the article the media explains the main movements in the Vietnamese investment market.

The article is based on a survey published by EuroCham that focuses on European companies operating in Vietnam: “Foreign managers expect no major changes in investment in Vietnam this quarter, after inflows fell in the first three months of the year, according to a survey published on Tuesday by the European Chamber of Commerce in Vietnam.“

Don’t hesitate to click here to read the full article.

April 11 – [VietnamNet] Finance Ministry proposes VAT reduction to 8% to boost economy –

On April 11th, Vietnam Net published an article titled “Finance Ministry proposes VAT reduction to 8% to boost economy“. In it, the media describes the two options the Ministry of Finance’s tax department is considering to be able to bring down value-added tax (VAT) to boost the economy.

They also cite EuroCham to explain how a VAT reduction speeds up economic recovery:

“The European Chamber of Commerce (EuroCham) said VAT reduction has played a key part in speeding up economic recovery, and has been a boon to businesses and consumers alike.

The chamber said it has helped with the government’s efforts in keeping inflation in check, boosting consumption and encouraging businesses to invest in expanding their operations. Consumers have also benefited from the lower VAT, which is in line with the government’s policy to aid the population post-pandemic.”

To read the entire article on Vietnam Plus, click here.

[Vietnam Plus] ESG game changer for firms seeking customers and funds.

On April 10th, Vietnam Plus released an article called “ESG game changer for firms seeking customers and funds.” 

In this article, the media explains that Envirnment Social and Governance (ESG) standards have become a “game changer” to increase customer engagement through their “growing environment and social concerns“. They review the datas of The Vietnam Textile and Apparel Association, Vinamilk as well as The Siam Cement Group to finish with the general point of view of the Chairman of EuroCham, Gabor Fluit.

“Chairman of the European Chamber of Commerce in Vietnam Gabor Fluit remarked that ESG rules in Vietnam lack coherence, and the allocation of responsibilities among stakeholders is poorly regulated. […] He called for more legal documents to legislate for the country’s carbon-neutral commitments in COP26 and more measures to raise the awareness of ESG among firms.”

Click here to read the full article.