A bustling factory floor at an FDI company in Dong Nai, Vietnam. (Photo: Hong Dat/VNA)
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According to our correspondent in Brussels, on the evening of July 2nd, the Embassy of Vietnam in Belgium hosted a discussion with the European Business Association in Vietnam (EuroCham) to explore cooperation opportunities between Vietnam and the European Union (EU), especially in critical areas such as green economy, renewable energy, environment, and the Just Energy Transition Partnership (JETP).
Ambassador of Vietnam to Belgium and Head of the Vietnamese Mission to the EU, Nguyen Van Thao, emphasized the importance of Vietnam-EU collaboration in promoting green and sustainable economic development, particularly in renewable energy and environmental protection.
The ambassador affirmed that Vietnam values its cooperation with the EU and EuroCham in these areas and expressed confidence that EuroCham’s expertise in renewable energy will significantly contribute to Vietnam’s efforts in reducing greenhouse gas emissions and combating climate change.
During the discussion, both sides delved into several critical environmental issues that Vietnam is facing, including the fight against illegal, unreported, and unregulated (IUU) fishing, biodiversity conservation in agriculture, and addressing environmental pollution.
Regarding the IUU issue, Ambassador Nguyen Van Thao called for EuroCham’s support in urging the European Commission (EC) to lift the IUU “yellow card” imposed on Vietnam. He also highlighted the importance of agricultural biodiversity for food security and sustainable development.
In relation to JETP, Ambassador Nguyen Van Thao appreciated EuroCham’s role in promoting this program in Vietnam. JETP is an EU initiative to support low and middle-income countries in transitioning to clean energy economies. The ambassador expressed his desire to work closely with EuroCham for the effective implementation of JETP in Vietnam.
EuroCham President Dominik Meichle, on his part, stated that the discussion underscored the ongoing and future collaboration between EuroCham and its Vietnamese partners, focusing on sustainable economic development.
Mr. Meichle shared that in their engagements with the EC’s relevant units, EuroCham consistently raised the issue of the IUU “yellow card” and urged the EC to consider its removal promptly. He added that an EC delegation is expected to visit Vietnam in late September or October this year, and they hope the “yellow card” issue will be resolved during this visit.
At the discussion, representatives from EuroCham-affiliated businesses expressed their confidence in the stable development of Vietnam’s economy.
Mr. Meichle mentioned that the business confidence index regularly published by EuroCham reflects a positive sentiment. He said, “We find that Vietnam presents many opportunities for our business community.”
Additionally, Mr. Meichle highlighted Vietnam’s strengths in attracting foreign investment, such as a stable investment environment, a well-trained workforce, and a government that engages in open dialogue with businesses. As a result, Vietnam’s prospects are currently and prospectively assessed as very positive.
Mr. Meichle offered several suggestions to Vietnam, including maintaining inflation at a reasonable level to ensure consumers’ spending power, increasing government investment in infrastructure, particularly green energy, transportation, and seaports, and reducing administrative procedures and digitizing processes.
According to Jean-Jacques Bouflet, Vice President of EuroCham in charge of policies, Vietnam’s economy is growing and becoming more stable. “All of us at EuroCham are very excited about the prospects in Vietnam,” he said.
Mr. Bouflet affirmed EuroCham’s commitment to maintaining and strengthening the excellent relationship between Europe and Vietnam. He also commended Vietnam’s efforts in coping with the COVID-19 pandemic and economic recovery.
He believed that Vietnam has many advantages for future development, including its favorable geographical location, high-quality workforce, and competitive pricing.
On the subject of personal data protection, which is increasingly important in the digital age, Bruno Sivanandan, EuroCham’s representative for the electronics sector, opined that both Vietnam and Europe need to improve in this area.
Mr. Sivanandan emphasized the significance of raising awareness among businesses, especially in 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.
The discussion between the Embassy of Vietnam in Belgium and EuroCham reflects the growing closeness of the relationship between the two sides. With the support and commitment of European businesses, Vietnam has the full potential to achieve its goals of sustainable economic development and prosperity in the future.
Huong Giang
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