EuroCham launches Whitebook 2018

The tenth edition reflects the aspiration of the European business community in supporting the Vietnamese Government to develop the business environment; bring benefits for businesses and investors in particular and the society in the context that the EU-Viet Nam Free Trade Agreement will be inked this year. 

Addressing the event, EuroCham Chairman Gellert Horvath emphasized that EVFTA would promote trade and investment among the two sides thanks to roadmaps on tariff cuts and strong commitments. 

In addition, the agreement would not only create impetus for Vietnamese professions to flourish but also improve the investment environment and quality of Vietnamese exports. 

“The EU commits to providing strong assistance for Viet Nam in the process of modernization and integration into the world economy,” said Mr. Gellert Horvath.

Deputy PM Vuong Dinh Hue praised the contribution of the European business community in beefing up trade and investment activities in Viet Nam. 

The Vietnamese Government said Mr. Hue always listens to recommendations and stands ready to take action if necessary. Vietnamese ministries and sectors would report the proposals to the Government and PM. 

According to Deputy PM Hue, the two-way trade turnover between Viet Nam and the EU surged ten times from US$ 4 billion in 2000 to US$ 50 billion in 2017. Meanwhile, FDI attraction was also on the rise. Hence, the two sides deserve to have a new, high-quality, and comprehensive agreement to optimize respective potentials and elevate the bilateral ties to a new height. 

Under the Whitebook 2018, Viet Nam is a charming destination for FDI attraction. Besides a series of law amendments including lower port fee levels and less conditions for foreign workers; the Vietnamese Government has continued to offer tax incentives for business registration and removal of ceiling formula price for milk. These amendments generated important driving forces for foreign investors. 

The edition also has an extreme outlook for the EVFTA that would create vigorous momentums for both Viet Nam and the EU.   

Nevertheless, the Whitebook recommends Viet Nam supplement regulations on representation in line with the laws for one-member Limited Liability Companies and sustainable energy roadmaps./. 

By Kim Anh