EuroCham Vietnam: Foreign Businesses' Confidence in Vietnam Increases
	EuroCham: Productive Dialogue is Key for Vietnamese, European Businesses

On July 2, the Vietnamese Embassy in Belgium had a meeting with the European Chamber of Commerce in Vietnam (EuroCham) to discuss cooperation opportunities between Vietnam and the European Union (EU), especially in important areas such as green economy, renewable energy, environment and the Just Energy Transition Partnership (JETP).

Photo: VNA

Vietnamese Ambassador to Belgium and Head of the Vietnamese Mission to the European Union (EU), Nguyen Van Thao, emphasized the importance of cooperation between Vietnam and the EU in promoting green and sustainable economic development, especially in the fields of renewable energy, and environmental protection.

The Ambassador affirmed that Vietnam attaches importance to cooperation with the EU and EuroCham in these fields and expressed confidence that EuroCham's cooperation and expertise in renewable energy will make an important contribution to Vietnam's efforts to reduce greenhouse gas emissions and combat climate change.

At the meeting, the two sides discussed a number of important environmental issues that Vietnam is facing, including combating illegal, unreported and unregulated (IUU) fishing, protecting agricultural biodiversity, and responding to environmental pollution.

Regarding the IUU issue, Ambassador Nguyen Van Thao called for EuroCham's support in urging the European Commission (EC) to remove the IUU "yellow card" for Vietnam. The Ambassador also stressed the importance of agricultural biodiversity for food security, and sustainable development.

Regarding JETP, Ambassador Nguyen Van Thao appreciated EuroCham's role in promoting this program in Vietnam. JETP is an EU initiative aimed at helping low and middle-income countries transition to a clean energy economy. The Ambassador expressed his desire to work with EuroCham to effectively implement JETP in Vietnam.

For his part, Eurocham Chairman Dominik Meichle said the meeting highlights the ongoing and future cooperation between EuroCham and Vietnamese partners, focusing on sustainable economic development.

He said that during meetings with the EC's bodies, Eurocham touched upon the "yellow card" warning against Vietnamese seafood and called on the EC to consider lifting it soon.

Meichle said the business confidence index released by EuroCham shows its members are positive about Vietnam’s economy, and acknowledge substantial opportunities brought about by the Southeast Asian nation.

Photo: NDO

Meichle also highlighted Vietnam's strengths in attracting foreign investment, such as a stable investment environment, a well-trained workforce, and an open dialogue between the government and businesses. As a result, Vietnam's prospects for the present and the future are assessed to be positive.

Meichle made a number of recommendations for Vietnam, such as controlling inflation at a reasonable level to allow consumers to spend, increasing government investment in infrastructure, especially green energy, transportation and ports, and reducing administrative procedures, and digitizing processes.

According to Jean-Jacques Bouflet, vice chairman of EuroCham in charge of policy, Vietnam's economy is growing and stabilizing. "All of us at EuroCham are excited about the prospects in Vietnam," Bouflet said.

He reaffirmed EuroCham's commitment to maintaining and strengthening the good relationship between Europe and Vietnam. He also appreciated Vietnam's efforts in responding to the Covid-19 pandemic.

He believes that Vietnam has many advantages for future development, including a favorable geographical location, a high-quality workforce, and competitive prices.

Regarding the issue of personal data protection becoming increasingly important in the digital age, Bruno Sivanandan, head of EuroCham's electronics sector, believes that Vietnam and Europe both need to improve personal data protection.

Sivanandan emphasized the importance of raising awareness among businesses, especially the private sector, about investing in information technology systems to ensure data security.

Compliance with personal data protection regulations is not only a responsibility but also a competitive advantage for businesses. Vietnamese businesses need to raise awareness and invest in information technology systems to ensure data security, and comply with international regulations.

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