PM discusses enhancing Vietnam-EU trade, cooperation with EU-ASEAN business delegates
The foreign-invested economic sector is an important component of Vietnam's economy and the Vietnamese Government always protects the legitimate and legitimate rights and interests of investors, Prime Minister Pham Minh Chinh said on February 14.
Hanoi (VNA) – Theforeign-invested economic sector is an important component of Vietnam's economyand the Vietnamese Government alwaysprotects the legitimate and legitimate rights and interests of investors, PrimeMinister Pham Minh Chinh said on February 14.
He made the remarks at a receptionfor a delegation of the EU-ASEAN Business Council and the European Chamber ofCommerce in Vietnam (EuroCham) to discuss measures to promote economic, tradeand investment relations between🔯 Vietnam and the EU.
The PM affirmed Vietnam always advocates further deepening the comprehensive partnership and cooperation with EU and the strategic partnership between ASEAN and the EU.
He suggested that EU investors andbusinesses continue to accompany Vietnam in implementing three strategicbreakthroughs, promoting three main drivers of the country’s economic development, namely investment, export andconsumption; helping Vietnam access green and high-tech financialinvestment sources, serving the needs of sustainable development in areas suchas digital transformation, green transformation, circular economy,infrastructure development, high-quality human resources training and diversification of markets, products and supply chains.
In order to effectively implement the cooperative relations betweenVietnam and the EU as well as between the ASEAN and the EU in the coming time, the PM called on Vietnamese and EU businesses to jointly make efforts to effectively implement the EU-Vietnam Free Trade Agreement (EVFTA) and push the remaining EU memberstates to soon ratify the EU-VietnamInvestment Protection Agreement (EVIPA) and the EU to remove the yellowcard relating to illegal, unreported and unregulated fishing imposed on seafoodproducts from Vietnam. At present, 12 out of 27 EU mem🅷bers have ratified the EVIPA.
The delegates expressed their pleasure that the EU hasbecome the fifth largest trading partner and the third largest export market ofVietnam while the Southeast Asian nation is the EU's largest trading partner inASEAN. In particular, the EVFTA is an important driving force for two-way tradebetween Vietnam and the EU to continuously increase. Trade turnover betweenVietnam and the EU reached 62.4 billion USD in 2022, an increase of 9.8% compared to 2021.
Jens Ruebbert, ViceChairman of the EU - ASEAN Business Council said that the participation of morethan 50 leaders of large enterprises in the delegation reflects the importanceof Vietnam.
EuroCham Chairman Alain Cany expreꦐssed his belief in the outcomeof the implementation of the EVFTA inthe coming time and affirmed that EU businesses will actively promote the ratification of the EVIPA./.
The confidence of European enterprises in Vietnam’s economy declined for a second quarter but the S-shaped country still remains in the top five global investment destinations for their companies, the latest Business Climate Index (BCI) published by the European Chamber of Commerce in Vietnam (EuroCham) showed last week.
Commitments outlined in the EU-Vietnam Free Trade Agreement (EVFTA) on both trade and investment are expected to contribute to attracting European businesses and investors to expand their activities in Vietnam, further promoting trade and investment cooperation.
Vietnam is paying attention to mobilising resources to invest in developing green agriculture with an aim to raising the market share of its agricultural exports to the European Union.
Standing Vice Chairman of the National Assembly Tran Thanh Man on February 13 called for France’s support in order to strengthen cooperation between Vietnam and the European Union (EU).
Finance Minister Ho Duc Phoc had a working session with a delegation of the EU-ASEAN Business Council (EU-ABC) in Hanoi on February 14, during which he expressed a hope that European businesses support and effectively invest in green economic development in Vietnam.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
At the event. (Photo: VNA) 
