Belgian businesses keen on investing in Vietnam
VOV.VN - Representatives of numerous Belgian businesses attending a workshop in Brussels on April 22 expressed their belief in the prospects ahead for the growing Vietnamese economy, as well as co-operation opportunities following the enforcement of a free trade agreement between the EU and Vietnam.
Belgian businesses touched upon various opportunities and challenges that come following the implementation of the Vietnam-European Union Free Trade Agreement (EVFTA), along with some other FTAs which Vietnam has signed with its partners. They also examined the Southeast Asian nation’s efforts aimed at improving the local business and investment environment, as well as preferences for those doing business domestically.
Charles Vanderstraeten, sales manager of DSV Solutions, a firm that specialises in international transport and logistics and has a branch in Vietnam, said the enforcement of the EVFTA has facilitated the Belgian firm’s operations within the country.
He outlined that his firm has since expanded its workshops across several major Vietnamese cities, including Hanoi, Da Nang, and Ho Chi Minh City, and is anticipated to record a significant profit in the near future due to the sustainable and rapid economic growth occurring in the country.
Meanwhile, Eric Franssen, sales and marketing director of John Cockerill Group, that is implementing energy and environmental projects in Vietnam, highly appreciated the country’s fast growing economy, adding that his firm has enjoyed plenty of opportunities to develop operations locally since the EVFTA came into force.
As part of efforts in seeking to penetrate deeper into the Vietnamese market, beer brewer Brouwerij Huyghe has introduced products for several years in the hope that they can directly export their products to the country, as opposed to going through intermediaries.
Vietnamese Ambassador to Belgium and Luxembourg Vu Anh Quang briefed delegates on the implementation of the EVFTA and the prospects ahead for greater bilateral trade ties over the coming years. He therefore called on Belgian businesses to play an active role in promoting the ratification of a EU-Vietnam investment promotion agreement (EVIPA) in Belgium, a piece of legislation that can serve the interests of businesses from both countries.
According to Duong Minh Tri, who represents the Belgian-Vietnamese Alliance (BVA), an increasing number of Belgian enterprises are looking at investing in Vietnam, especially following the EVFTA coming into force last August. Similar to other foreign investors, firms from Belgium can enjoy tax cuts when they wish to expand their market in Southeast Asia.
At present, Belgium has development 78 investment projects throughout Vietnam, with a total registered capital of US$1.1 billion, ranking 23rd among 131 countries and territories investing in the country. The majority of investment projects are focused on ports, infrastructure, logistics, real estate, water supply and drainage, waste treatment, processing and manufacturing industries, power generation and distribution, along with agro-forestry-fisheries.
