(MPI) - Deputy Minister of Planning and Investment Tran Duy Dong hosted a working session in Hanoi on June 28 with the EU-ASEAN Business Council led by its Executive Director, Chris Humphrey.

Executive Director of the EU-ASEAN Business Council Chris Humphrey. Photo: MPI

Chris commended Vietnam’s impressive economic growth and strong commitments to improving the investment climate and its orientation towards sustainable and green economic development.

Citing the results of the Business Confidence Index (BCI) published by EuroCham earlier this year, Chris emphasised the increasing confidence of EU businesses in Vietnam’s economy and investment environment. He hoped that with Vietnam’s more open and comprehensive policies, the two sides would see further advancements and developments in bilateral commitments.

The EU-ASEAN Business Council and EuroCham stand ready to promote the early ratification of the EU-Vietnam Investment Protection Agreement (EVIPA), and will continue to masimize the opportunities brought by the EU-Vietnam Free Trade Agreement (EVFTA) to enhance trade exchanges between the two sides.

At the working session, representatives of EU businesses and the Ministry of Planning and Investment (MPI) discussed issues related to the roadmap and plans of the Vietnamese government in implementing the global minimum tax; policies to attract investment in artificial intelligence (AI), semiconductors, healthcare, aviation, and other sectors; cooperation opportunities in aviation, semiconductors, offshore wind power; sustainable development plans, energy transition, and achieving net-zero emissions by 2050.

Deputy Minister of Planning and Investment Tran Duy Dong. Photo: MPI

Deputy Minister Dong highly valued activities of EU businesses, the EU-ASEAN Business Council and EuroCham, which have positively contributed to Vietnam’s economic development and the comprehensive cooperation between the two sides.

Regarding cooperation with the EU, the deputy minister stated that the EU is currently an important economic partner of Vietnam; it is the largest provider of non-refundable aid, the third-largest export market, the fifth-largest import market, and the sixth-largest investor in Vietnam.

He urged the EU to expedite the ratification of the EVIPA by its member states to boost bilateral trade and investment robustly, and to protect the rights of businesses towards transparent and effective manner.

The deputy minister suggested that EU firms consider invest in areas that are priorities for Vietnam and strengths of the EU, such as high-tech and environmentally friendly investments, digital economy, green economy, circular economy, knowledge economy, and innovation.

He also called for their assistance in training high-quality human resources, particularly in the semiconductor industry, to help Vietnam achieve its goal of training 50,000 engineers.

Deputy Minister Dong affirmed that the Vietnamese government, and the MPI in particular, always stand by and listen to EU businesses, striving to create a competitive, transparent, and open business environment and to continue perfecting the legal system in line with international standards and practices, thereby providing maximum conditions for businesses to operate with peace of mind. This will, in turn, deepen and substantiate the Vietnam-EU relationship./.

Bao Linh

Ministry of Planning and Investment