EuroCham suggests ways to ameliorate investment climate

VOV.VN - Co-Chairman of the European Chamber of Commerce in Vietnam (EuroCham) Nicolas Audier has suggested removing trade barriers and cutting down tariffs in order to improve investment climate for European businesses keen on increasing foreign direct investments (FDI) in Vietnam.

In his remarks at a ceremony to present the 10th edition of the White Book 2018 in Ho Chi Minh City on March 21, the EuroCham official said that the EuroCham will help Vietnam improve its business environment , thus enabling enterprises of both sides to capitalize on the advantage of the EU-Vietnam Free Trade Agreement (EVFTA), which is set to become effective to the fullest extent this year.

The EU is currently a leading partner of Vietnam across a variety of fields such as investment and trade. Last year, the EU was the second largest importer of the Southeast Asian nation with a total import value of US$38.2 billion. Meanwhile, Vietnam  imported US$12 billion worth of products from the EU countries. 

Dinh Ngoc Thang, Deputy Director of the Ho Chi Minh City Customs Department, said that the White Book will help state management agencies  fully grasp the market trend to revamp regulations on a rational basis to facilitate foreign investors' operations.

According to Guru Mallikarjina, Vice President and Managing Director of Bosch Vietnam, thanks to its efforts to improve business climate, Vietnam has been a magnet for FDI businesses, including those from the EU.

The country has been right on track to draw FDI, and investors can make their stronger presence in other sectors such as human resources training, smart city building, infrastructure development and green growth besides business operations.