EuroCham representatives express concerns and recommendations for Vietnam’s economic growth on VTV4

Two recent programs on VTV4, aired on June 12, featured the perspectives of leaders of EuroCham and our Sector Committees. They addressed various pressing issues, including power shortages, work permit difficulties, tourist visa regulations, and economic challenges. They also shared their insights and recommendations, emphasizing the need for a favorable business environment to attract foreign investment and ensure sustainable economic growth in Vietnam.

VTV4’s “Báo chí quốc tế nói gì về Việt Nam trong tuần qua?” program:

During VTV4’s Vietnamese-language program, “Báo chí quốc tế nói gì về Việt Nam trong tuần qua?” (or “What did the international press say about Vietnam last week?”), EuroCham leaders expressed their concerns and provided recommendations regarding several critical areas affecting the business community in Vietnam.

Access the first YouTube video by clicking here.

Power shortages and investment impact:

Chairman of the EuroCham Green Growth Sector Committee Tomaso Andreatta discussed the recent power shortages and their potential implications on foreign investment. Mr. Andreatta highlighted the adverse effects on investment decisions and routine business operations, stressing that losing production orders could be challenging to regain (02:17 – 02:30).

Work permit difficulties:

EuroCham Board Member Tri Mai Hoang addressed the current challenges faced by EuroCham members related to work permit renewals. Ms. Hoang explained that currently, only one renewal is allowed, leading to time-consuming processes, high costs, and uncertainties. EuroCham is eagerly awaiting the draft amendment to Decree 152 to remove burdensome restrictions (02:30 – 03:11).

Revisions to tourist visa regulations:

Ms. Hoang also discussed the proposed revisions to regulations governing tourist visas. She emphasized that visa exemptions and extensions will help attract international tourists and business travelers, ultimately benefiting airlines and the entire tourism ecosystem. The post-pandemic expansion of Vietnamese airline activities and fleets, including of Vietnam Airlines, Vietjet Air, Bamboo Airlines, and VietTravel, was also covered (03:11 – 04:07).

Making Vietnam an appealing tourist destination:

Chairman of the EuroCham Tourism and Hospitality Sector Committee Mario Mendis discussed strategies to enhance Vietnam’s appeal as a tourist destination. He mentioned the importance of improving the online portal system for visa processing, ensuring a smoother user experience. Learning from successful destination marketing efforts by countries like Australia and the UK, he emphasized the need for effective marketing campaigns and collaborations with international celebrities. The recent example of Netflix’s movie, “The Traveler’s Guide to Vietnam with Love,” was cited as a positive way to showcase Vietnam’s attractions (04:07 – 05:02).

VTV4’s 3 p.m. News:

VTV4’s English-language news program covered the fifth session of the 15th National Assembly, where its Economic Committee discussed the challenges faced by Vietnam’s socio-economic situation and acknowledged the pressure on the country’s 2023 growth target. It also discussed the Prime Minister’s signing of Directive 14 on streamlining foreign investment, where ministries, sectors, and localities were assigned to improve labor quality, tax policies, administrative procedure simplification, and science and technology, among others.

Access the second YouTube video here.

Improving the business environment:

In this program, EuroCham Vice-Chairman Dominik Meichle highlighted the concerns of investors, emphasizing the importance of consistent and effective implementation of laws and regulations. Mr. Meichle stressed the need to avoid contradictions between tax laws and investment laws, as well as the necessity of nurturing both blue-collar and high-tech talents to drive digital innovations in Vietnam (06:03 – 06:30).

This program also included the aforementioned clip of EuroCham Board Member Tri Mai Hoang discussing work difficulties (07:25 – 07:53).