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Vietnam, European Firms Seek to Boost Investment, Business Links

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The delegation consisted of heads of the European Chamber of Commerce in Vietnam (EuroCham) and representatives from European firms engaged in or pursuing trade and investment prospects in Vietnam.

In greeting the delegation, Dien stated that Vietnam consistently considers the European Union (EU) as a primary partner in its foreign policy. He valued the European business community's role in Vietnam's socio-economic growth, especially in areas like investment, technology transfer, enhancing production capabilities, and training high-quality human resources.

He emphasized that the NA consistently appreciates business input and suggestions while developing, enhancing, and supervising law enforcement, aiming to establish a transparent, stable, and favorable investment and business climate that protects investors' legitimate rights and interests.

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European business officials lauded Vietnam's socio-economic progress, portraying the nation as a vibrant economy and an appealing, trustworthy investment hub. They regarded the advancement of Vietnam–EU relations to a Comprehensive Strategic Partnership as a significant landmark that creates new avenues for collaboration, and emphasized their enduring dedication to investing and conducting business in Vietnam, especially in innovation, technology transfer, and sustainable development.

Both parties addressed four main topics: enhancements in institutions and laws; economic growth and the climate for investment and business; healthcare and social support; as well as science, technology, and sustainable advancement. European firms highlighted concerns related to business consultation in areas such as policymaking, healthcare, pharmaceuticals, insurance, public procurement, intellectual property, technology transfer, food safety, aviation and aerospace, the circular economy, and the development of high-quality human resources.

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Members of NA committees, ministries, and agencies responded to the concerns raised, reiterating their dedication to transforming legislative thought and advancing the legal framework to promote development and boost investment effectiveness. Vietnamese agencies urged European companies to enhance collaboration in key sectors, leverage EU initiatives, especially the Global Gateway and Just Energy Transition Partnership (JETP), and encourage technology transfer, renewable energy growth, and the integration of Vietnamese firms into global supply chains.

In his final comments, Dien emphasized the significant progress in Vietnam–EU relations, especially the creation of the Comprehensive Strategic Partnership and the official visit to the EU by General Secretary of the Communist Party of Vietnam Central Committee and President To Lam in October. He urged the EU–ABC, EuroCham, and their member firms to maintain their roles as facilitators for collaboration, encourage delegation exchanges, and seek investment and business prospects, focusing on sectors where the EU excels and Vietnam has needs, such as science, technology, innovation, digital transformation, green transition, clean energy, seaport infrastructure, and smart cities.

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He additionally urged European companies to speak out to motivate the remaining EU member states to ratify the EU–Vietnam Investment Protection Agreement (EVIPA) and back the European Commission's removal of its "yellow card" warning regarding Vietnamese seafood due to illegal, unreported, and unregulated (IUU) fishing.

 

He mentioned that these initiatives will enhance the Vietnam–EU Comprehensive Strategic Partnership and provide concrete advantages for both parties.

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