Vietnam and Netherlands Strengthen Sustainable Trade and Investment

In Hanoi, Deputy Minister of Industry and Trade Dang Hoang An on April 25 had a meeting with Netherlands Vice Minister for Foreign Economic Relations Hanneke Schuiling. They discussed cooperation in trade, logistics, sustainable energy and circular economy between the two countries.
April 27, 2022 | 07:43
Vietnam and Netherlands Strengthen Sustainable Trade and Investment
Deputy Minister of Industry and Trade Dang Hoang An emphasized the close cooperation between Vietnam and the Netherlands in many fields. Photo: congthuong.vn

At the meeting, Deputy Minister Dang Hoang An positively assessed the relationship between Vietnam and the Netherlands, particularly in trade and investment.

The Netherlands is in the top 2 export markets of Vietnam in Europe. The Dutch market is always considered as the gateway and one of the hubs for the transshipment of goods into the European market. It helps connect ports and industrial zones with Europe, helping Vietnam's exports to the Netherlands, and to other European countries.

According to statistics of the General Department of Customs, in the first three months of 2022, Vietnam exported more than US$2.25 billion to the Netherlands, an increase of 18%.

Vietnam imported more than US$139.9 million, down 9.8% over the same period in 2021, up 15.9%. Total two-way trade turnover reached US$2.39 billion, up 15.9% over the same period.

In terms of investment, the Netherlands ranks 8th out of 140 countries and territories with direct investment capital in Vietnam. Currently, Dutch enterprises are investing in 380 projects, with a total direct investment capital of US$13.55 billion.

Investment projects are mainly in southern provinces such as Ho Chi Minh City, Ba Ria - Vung Tau, Dong Nai, Binh Duong. Except for some oil, beer and food projects, Dutch investment projects are generally of small and medium scale.

Many Dutch investment projects in Vietnam operate effectively, with large companies such as Heineken, Unilever, Roroyal Dutch Shell, Philips, Akzo Nobel Coating.

Despite positive results, according to Deputy Minister Dang Hoang An, the bilateral trade between Vietnam and the Netherlands still has a lot of room for development, especially when the Vietnam-EU Free Trade Agreement (EVFTA) has taken effect.

Vietnam and Netherlands Strengthen Sustainable Trade and Investment
Haneke Schuiling appreciated the economic, trade and investment cooperation between the two sides. Photo: congthuong.vn

Vice Minister Schuiling said that the relationship between the two countries Vietnam-the Netherlands in recent years has developed continuously. She also hopes that her visit this time will contribute to the relations between the two countries.

Regarding the EVFTA, Deputy Minister Schuiling emphasized the importance of the agreement, and room for businesses of the two countries to strengthen cooperation.

At the meeting, she also expressed her support for Vietnam's green energy transformation program. The Netherlands is ready to support and cooperate with Vietnam in the fields in which the Netherlands has experience.

Vietnam and Netherlands Strengthen Sustainable Trade and Investment
Deputy Minister Dang Hoang An said the Netherlands is an important trade partner of Vietnam. Photo: congthuong.vn

Deputy Minister Dang Hoang An welcomed the close cooperation between Vietnam and the Netherlands in many fields, including those in charge of the Ministry of Industry and Trade such as trade, green energy transition, circular economy, logistics.

Dang Hoang An said the Netherlands is an important trade partner of Vietnam. He suggested that the two sides would take concrete and effective steps in areas that already have a good foundation of cooperation.

He also hoped that the Netherlands Vice Minister for Foreign Economic Relations would pay attention so that the Dutch Parliament would soon put the ratification of the EU-Vietnam Investment Protection Agreement (EVIPA) on the agenda.

He also asked the Netherlands to consider asking the EU to soon remove the "IUU yellow card" for Vietnamese seafood.

Vietnam and Netherlands Strengthen Sustainable Trade and Investment
At the end of the meeting, the two sides agreed to strengthen cooperation in trade, logistics, sustainable energy and circular economy. Photo: congthuong.vn

On the same day, Vice Minister Schuiling had a meeting with Deputy Minister of Planning and Investment Tran Quoc Phuong.

Schuiling congratulated the Ministry of Planning and Investment on the planning of the Mekong Delta region, the first integrated regional plan in Vietnam. In the Mekong Delta, the Netherlands has invested 50 million euros (US$53,6 million) in public and private projects, and will continue to strengthen climate change response funds for Vietnam.

The success of the Mekong Delta Business Forum in Can Tho at the beginning of April proved the strong presence of the Netherlands in the Mekong Delta, and the important role of the private sector in the green transition.

Therefore, the two governments need to support the establishment and maintenance of a good business environment, creating favorable conditions for businesses.

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