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Vietnam Today

EU enterprises positive about Vietnam

Released at: 17:39, 15/03/2018

EU enterprises positive about Vietnam

Photo: Hai Van

Eurocham releases 2018 White Book on March 15.

by My Van

Enterprises from the EU see potential in Vietnam and are increasing their investment, according to Eurocham’s 2018 White Book, released on March 15.

European investors have invested a total of $915.5 million in 151 projects around the country.

Vietnam possesses many competitive advantages and has become an attractive destination for foreign direct investment (FDI), the White Book noted. The EU, meanwhile, is its second-largest foreign market and the destination of 18 per cent of its exports.

With bilateral trade reaching $50.3 billion last year, the EU is Vietnam’s third-largest trading partner and the latter currently records a trade surplus of about $31.8 billion.

Speaking at the launch of the 10th edition of the White Book, Head of the EU Delegation in Vietnam, H.E. Bruno Angelet, emphasized that in terms of macroeconomic indicators, Vietnam has experienced a positive year. “With a GDP growth rate of 6.8 per cent, Vietnam is among the most active economies in the region,” he said.

It attracted nearly $30 billion in foreign direct investment (FDI) last year, up 44.2 per cent from 2016. These conditions will help it continue to be an attractive destination for foreign investors, he added.

As an open economy, its economic growth depends on the economic situation of its partner countries, including the EU, Ambassador Angelet went on, and the EU can help it achieve its sustainable development goals.

Vietnam’s business environment has improved significantly in the eyes of EU investors, with 62.3 per cent of respondents rating their existing business situation as “excellent” or “good”. About 70 per cent are optimistic about the business environment in the time to come, of which 11.6 per cent believe it will be “excellent” and 58 per cent “good”.

The 2018 White Book also includes reviews of and suggestions for different sectors in Vietnam, to support the country’s development and bolster cooperation between the enterprises of both.

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