Vietnam Remains Important Partner for EU: Eurocham

Vietnam remains an important partner for the EU, especially in trade and investment ties, affirmed EuroCham President Alain Cany at a talk with the Vietnamese Ministry of Trade and Industry in Hanoi on April 27.

 

Vietnam is “a safe place for foreign investors”, he said, hailing the country’s growth rate, its dynamism and untapped potential.

 

At the meeting, Minister of Industry and Trade Vu Huy Hoang said there is a big opportunity for Vietnam and the EU to further develop their cooperation and investment in industries, particularly in mechanical engineering, petro-chemistry, hi-technologies and new forms of energies.

 

Hoang pointed out the effectiveness of European-owned projects in Vietnam in key sectors such as oil and gas exploitation, infrastructure construction, telecommunications, banking, power generation and food processing.

 

The minister also noted that Vietnam will create more favorable conditions for foreign investors, including those from EU.

 

To date, European companies have invested in 796 projects worth some US$12 billion in Vietnam, with US$7 billion already disbursed.

 

Bilateral trade between Vietnam and the EU reached US$76 billion over the past nine years, of which US$50 billion was Vietnamese exports to Europe.

 

In 2008, the Southeast Asian exported US$10 billion goods to the EU, up 17.6 per cent on-year. Vietnam aims to gain US$12 billion worth of products to the EU by 2010. (VNA)