Vietnam greatly values cooperation in renewal energy with EU

The Vietnamese Embassy in Belgium held a discussion on July 2 in Brussels with EuroCham Vietnam to discuss co-operation opportunities between the country and the EU, especially in important areas such as green economy, renewable energy, the environment, and the Just Energy Transition Partnership (JETP).

Ambassador  Thao used the event to outline the importance of linkages between both sides for the cause of promoting green and sustainable economic development, especially in the fields of renewable energy and environmental protection.

He also expressed his belief that EuroCham's co-operation and expertise in renewable energy will make an important contribution to Vietnamese efforts to reduce greenhouse gas emissions and respond to climate change.

At the seminar, the two sides discussed a number of important environmental issues that the country is currently facing, including combating illegal, unreported and unregulated (IUU) fishing, protecting biodiversity in agriculture, and responding to environmental pollution.

Regarding the IUU issue, Ambassador Thao called for EuroCham's support in urging the European Commission (EC) to remove the IUU "yellow card" given to the nation. He also underscored the importance of biodiversity in agriculture for food security and sustainable development.

Regarding the JETP, Ambassador Thao hailed EuroCham's role in accelerating this programme. JETP is an EU initiative aimed at helping low- and middle-income countries transition to a clean energy economy. The Ambassador expressed a strong desire to work closely with EuroCham to effectively carry out JETP locally.

For his part, Dominik Meichle, chairman of EuroCham, said this discussion emphasised the ongoing and future collaboration between EuroCham and Vietnamese partners, focusing on sustainable economic development.

At a working session with the EC's functional units, EuroCham touched upon the IUU "yellow card" issue and stated hope the EC side would quickly consider removing it, Meichle said, adding that in late September or October this year, the EC delegation will visit Vietnam to consider dealing with the yellow card-related issue.

At the discussion, EuroCham business representatives all expressed their confidence in the stable development of the Vietnamese economy.

Meichle stated that the business confidence index regularly published by EuroCham shows positive signs and the Vietnamese side is bringing many opportunities to the European business community.

Furthermore, the EuroCham leader also highlighted Vietnamese strengths in attracting foreign investment such as a stable investment environment, a well-trained workforce, and open dialogue between the Government and relevant firms. Through these efforts, Vietnamese prospects now and in the future can be considered very positive, he went on.

Meichle put forth a number of suggestions for the Vietnamese side, such as controlling inflation at a reasonable level to enable consumers to ensure spending power; increasing governmental investment in infrastructure, especially green energy, traffic systems, and seaports; streamlining administrative procedures; and accelerating digitising processes.

According to Jean-Jacques Bouflet, vice president of EuroCham, the Vietnamese economy is increasingly growing, meaning EuroCham is very excited about its future prospects working in the nation.

Bouflet affirmed EuroCham's commitment to maintaining and strengthening the sound relations between Europe and Vietnam. He also noted his appreciation for Vietnam's efforts in responding to the COVID-19 pandemic and economic recovery.  The nation boasts many advantages for future development, including a favourable geographical location, a high-quality workforce, and competitive prices, he continued

Concerning personal data protection, which is becoming increasingly important in the digital age, Bruno Sivanandan, in charge of Eurocham's electronics field, said that both sides need to improve personal data protection.

He underscored the importance of raising awareness from businesses, especially the private sector, about investing in information technology systems in a bid to ensure data security.

Complying with regulations on personal data protection is not only a responsibility, but also a competitive advantage for businesses.

Vietnamese enterprises therefore need to raise greater awareness and invest in information technology systems to ensure data security and compliance with international regulations, he stressed.

The discussion between the Vietnamese Embassy in Belgium and EuroCham is evidence of the increasingly close co-operative ties between the two sides. With support and commitment from European businesses, Vietnam has great potential to achieve the goal of sustainable economic development and greater prosperity in the future.