Hanoi (VNA) – Removing trade barriers and cutting down tariffs are themost critical measures to improve investment climate for European enterpriseswho want to land foreign direct investments (FDI) in Vietnam.

Co-Chairman of the European Chamber of Commerce in Vietnam (EuroCham) NicolasAudier made the suggestion at a ceremony to present the 10th edition of the WhiteBook 2018 in Ho Chi Minh City on March 21.

He noted that the EuroCham will work to support Vietnam to better off itsbusiness environment so that enterprises of both sides can tape the advantageof the EU-Vietnam Free Trade Agreement (EVFTA), which is expected to takeeffect in 2018, to the fullest extent.

Currently, the EU is a leading partner of Vietnam in various fields such as investmentand trade. Last year, the union was the second largest importer of theSoutheast Asian nation with total import revenue of 38.2 billion USD.Meanwhile, Vietnam purchased 12 billion USD worth of products from the EUcountries.

Thanks to its efforts to ameliorate business climate, Vietnam has been a magnetfor FDI enterprises, including those from the EU, said Guru Mallikarjina, VicePresident and Managing Director of Bosch Vietnam.

He underlined that Vietnam has been on the right track to draw FDI, andinvestors can increase their presence in other sectors like human resourcestraining, smart city building, infrastructure development and green growthbesides business operation.

Dinh Ngoc Thang, Deputy Director of the Ho Chi Minh City Customs Department,said that the White Book will help state management agencies to thoroughlygrasp the market trend to make rational changes in regulations to createfavourable conditions for foreign investors. - VNA