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Viet Nam positions itself to be EU's high-tech partner

VGP – Viet Nam positions itself to be the EU's high-tech partner, said Leif Schneider, Vice Chair of the Eurocham Viet Nam's Legal Sector Committee.

January 29, 2024 9:52 PM GMT+7

Prime Minister Pham Minh Chinh joined more than 30 events on artificial intelligence, automobile, semiconductor during his stay in Davos, Switzerland to attend the 54th annual meeting of the World Economic Forum.

Viet Nam has made considerable achievements and reputation in software development, thus the country is likely to provide the EU partners with attractive ecosystem and this kind of partnership can help Viet nam to realize its goal to become a new semiconductor hub in ASEAN.

This partnership is also significant as the EU member countries are reinforcing their competitiveness to compete with top economies in Asia, especially in such fronts like semiconductor and automobile, said Leif Schneider.

In addition, cooperation potential between Viet Nam and the EU remains huge across many other fields. During his EU tour, Prime Minister Pham was successfully in highlighting that Viet Nam is the EU's top economic partner in ASEAN as well as the shared interests of both sides in maintaining and expanding the bilateral ties.

Many European companies expect to double investment in Viet Nam, which is a clear evidence of the cooperation potential between Viet Na and the EU, said Leif Schneider, expressing his belief that the two-way trade will continue rising and the EU's investment in Viet Nam will start to increase in 2024.

Leif Schneider further elaborated that Pham's EU tour helped consolidate Viet Nam's role as one of the EU's most important trade partner and a trusted friend amid the global geo-political tension.

Sharing Leif Schneider's view, Charaf Kadri, managing director of Sandoz Viet Nam said the EU witnessed outstanding and dynamic growth of Viet Nam over the past decade.

Viet Nam is becoming increasingly attractive and a favorite investment destinations for foreign investors, particularly in the era when artificial intelligence has emerged to become a growth driving force, shared Charaf Kadri.

The EU is one of the biggest foreign investors in Viet Nam and the biggest trade partner of ASEAN, said Charaf Kadri, adding that the Viet Nam-EU partnership would help further drive investment from all 27 EU member countries to Viet Nam.

Recently Viet Nam has become an important link in the current process of diversification of global supply chain and the Southeast Asian country has made important contributions to this process.

Foreign investors' increasing interst in Viet Nam's amazing economic potential was one of the highlights of Prime Minister Pham's EU tour, noted Charaf Kadri