Eurocham Whitebook highlights EVFTA ratification

Economy, Vietnam, Vietnam Finance News
The Fourth Industrial Revolution, through the digitalisation of all sectors and industries, will make Vietnam more competitive, innovative and better prepared to embrace job opportunities of the future. (Photo: vneconomy.vn)

Hanoi (VNS/VNA) – The European
Chamber of Commerce in Vietnam (EuroCham) launched the 11th edition of its
annual Whitebook at a conference in Hanoi on March 14, focusing on the future
of economic development in Vietnam.  

The event, entitled “The EVFTA: Driving Industry Digitalisation and
Transformation for Vietnam’s Socio-Economic Prosperity”, co-organised by the Ministry
of Foreign Affairs and the Vietnam Chamber of Commerce and Industry (VCCI),
brought together more than 200 participants, including high level
representatives from the Government of Vietnam, provincial leaders from across
the country, European ambassadors and the European business community.

The conference highlighted two issues most critical to ensuring the success of
the next phase of Vietnam’s development, the EU-Vietnam Free Trade Agreement
(EVFTA) and the Fourth Industrial Revolution.

According to Eurocham, taken together, these two issues would help VIetnam
further integrate into the global economy and the international community. The
Fourth Industrial Revolution, through the digitalisation of all sectors and
industries, would make the country more competitive, innovative and better
prepared to embrace job opportunities of the future.

The EVFTA, once ratified and implemented, would advance trade and investment
between the EU and Vietnam and give consumers better access to high-quality
European goods and services.

The launch of the Whitebook brought the issues and
recommendations of EuroCham members together under the themes of healthcare,
tax and customs and sustainability. At the event, European business leaders
discussed with the Government issues including logistics and infrastructure,
green growth, tax and transfer pricing, human resources, health and legal
matters.

“Over
the last three decades, the Government has successfully transformed Vietnam from
one of the poorest countries in the world to a fast-growing, modern,
middle-income nation, said Nicolas Audier, co-chairman of EuroCham.

“Today, Vietnam has the opportunity, through new-generation Free Trade
Agreements like the EVFTA, to take the next step up the value chain and become
an even more open and successful leader in the region and on the world stage,”
he said.

“If taken on board, the insights and recommendations of
our members will help the Government to unlock the full benefits of the EVFTA
and go further and faster on its path of growth and development, reforming Vietnam’s
legal framework and business environment and, in the process, improving the
life chances and living standards of millions of Vietnamese citizens.”

“Building
on the phenomenal socio-economic journey experienced by Vietnam in the past 30
years, which has been mainly driven by labour intensive manufacturing, the jobs
and growth of the future will predominantly come from the digital economy and
high-tech jobs related to industry digitalisation of all sectors and
industries,” said Denis Brunetti, co-chairman of EuroCham.

“As European enterprises were a trusted, reliable and secure partner in helping
to develop Vietnam’s earliest telecommunications and ICT networks, driving
significant internet usage across the country, our members remain committed and
dedicated to helping the country take advantage of the new wave of inclusive
and sustainable digital innovation,” Brunetti said.

“As European enterprises were a trusted, reliable and secure partner in helping
to develop Vietnam’s earliest telecommunications and ICT networks, driving
significant internet usage across the country, our members remain committed and
dedicated to helping the country take advantage of the new wave of inclusive
and sustainable digital innovation,” Brunetti said.

“Europe contains some of the world’s most innovative, market-leading, and
sustainable future-focused companies, and EuroCham’s 11th Whitebook contains
the insights and recommendations of business leaders from these enterprises.
Our publication is designed to help Việt Nam adapt to the new opportunities
that the Fourth Industrial Revolution will bring, and in so doing, make the
country increasingly more competitive in the global economy and more attractive
to international trade and investment.”

Hoang Quang Phong, Vice Chairman of the VCCI, hailed the contributions of the
European business community in Vietnam.

He said the EU was one of Vietnam’s largest trade partners and the
recommendations made by the White Book had been submitted to the Government and
would make significant contributions to improving the business environment in
the country.

The Whitebook is EuroCham’s flagship annual publication, bringing together the
insights and recommendations of the chamber’s over one thousand members. The
publication includes 20 chapters, covering sectors and industries from
healthcare to wines & spirits, and ICT to human resources & training.

In the Whitebook, EuroCham members raise the most important issues to their
business operations, and highlight specific actions that the Government could
take to improve Vietnam’s business environment and legal framework, increase
trade and investment from Europe and make the country even more competitive in
the global marketplace.-VNS/VNA

QBCA

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