EuroCham in the News: April 24th to April 30th, 2023

[The World and Vietnam Report] EVFTA opening up big opportunities for European businesses to access Vietnamese market.

On April 24th, The subsidiary of The World and VietNam Report, published an article titled “EVFTA opening up big opportunities for European businesses to access Vietnamese market”. In the article, the media discusses the relatively low growth rate of GDP for the first quarter of 2023 in Vietnam. It also describes the business sentiment measurement Index based on the latest Business Climate Index (BCI) published by EuroCham.

In the article, the media also cited the EuroCham Chairman, Gabor Fluit:

“The EVFTA has helped Vietnam diversify its export markets and increase its global competitiveness, attracting a large amount of FDI in the manufacturing and services sectors,” EuroCham Chairman Gabor Fluit shared with The World and Vietnam Report.”

The World and Vietnam Report explains that there is some indications of modest recovery and explains how EuroCham supports Vietnamese markets:

“EuroCham is committed to supporting Vietnamese economic development by advocating for policies that enhance competitiveness, create an environment conducive to innovation and business growth, and facilitate sustainable and inclusive economic growth.”

To read the full article in English, click here. To read it in Vietnamese, click here.

[Vietnam Investment Review] Time is now to clear up property ownership overlap

On April 24th, Vietnam Investment Review (VIR) published an article titled “Time is now to clear up property overlap“. In the article, the media explains that The Ministry of Construction wants “gaps between the housing and land laws closed in order to boost the chances of foreigners purchasing private homes in Vietnam“.

VIR explains that the issue was raised during the regular Vietnam Business Forum (VBF) 2023 in the presence of Prime Minister Pham Minh Chinh in March:

“European Chamber of Commerce in Vietnam chairman Gabor Fluit emphasized that the delay in granting land use right certificates to foreigners has significantly affected various stakeholder

“The holder of such a certificate may have to bear the consequences if a dispute arises with the seller of the land use right certificate,” he said. “Moreover, the delay in granting certificates may also make foreign investors hesitant to invest more in the real estate market.” […]

“If there is no list of projects that prohibit foreign ownership, the competent authorities may be confused in granting or delaying the issuance of land use right certificates to foreigners,” added Fluit”

To read the full article in English, click here.

[VietnamNet] Broad ground covered in aim to reinforce FIE conditions

On the same day, Vietnam Net published an article titled “Broad ground covered in aim to reinforce FIE conditions“. In the article, Vietnam Net explains that foreign investors raised a series of issues at last week’s FDI meeting with Prime Minister Pham Minh.

The media cites different Chamber of Commerce such as the Korean Chamber of Commerce in Vietnam (KorCham) as well as EuroCham:

“To overcome the impact of the upcoming GMT rate, the European Chamber of Commerce in Vietnam (EuroCham) has proposed measures to encourage investment, including the exemption of import tax and extension of the tax exemption period.”

In order to read the full article (In English), click here.

[Dan Viet – Vietnamese language] Tay Ninh organizes the first international forum to attract investment in hi-tech agriculture.

On April 25th, Dan Viet published an article titled “Tay Ninh organizes the first international forum to attract investment in hi-tech agriculture“.

“The People’s Committee of Tay Ninh province has just signed Decision No. 1209/KH-UBND on the plan to organize “Forum connecting businesses to invest in and develop high-tech agricultural ecosystem in Tay Ninh province in 2023 … EuroCham’s Chairman added: ‘With EuroCham’s platform and extensive network, I believe that EuroCham can make landmark changes in Vietnam’s agricultural sector.'”

To read the full article (In Vietnamese), click here.