The European Union (EU)'s investment in Vietnam now tops 30.4 billion USD, ranking as the sixth largest foreign investor in Vietnam. Two-way trade hit 68.5 billion USD last year.Hanoi - Prime Minister Pham Minh Chinh chaired a dialogue with European enterprises in Hanoi on March 2 to boost cooperation and investment, aiming to achieve a growth rate of at least 8 per cent this year, paving the way for double-digit growth in the years ahead.The event also the attendance of Deputy PMs Ho Duc Phoc and Nguyen Chi Dung, Head of the EU Delegation to Vietnam Ambassador Julien Guerrier, representatives from embassies of EU nations, 15 leading Vietnamese groups and corporations and 16 top European firms.The European Union (EU)'s investment in Vietnam now tops 30.4 billion USD, ranking as the sixth largest foreign investor in Vietnam. Two-way trade hit 68.5 billion USD last year.The EU-Vietnam Free Trade Agreement (EVFTA) has further encouraged European businesses to expand their investments in Vietnam, contributing to the country’s economic growth. Through the Just Energy Transition Partnership (JETP), the EU is supporting Vietnam in achieving net-zero emissions by 2050.A recent survey revealed that 75 per cent of European enterprises recommend Vietnam as a key investment hub, reflecting strong confidence in the country’s economic potential.Reflecting on 35 years of Vietnam-EU diplomatic relations, PM Chinh praised the EU’s support for Vietnam’s development, especially in the fields of economy, investment, and trade. He acknowledged Europe’s shared commitment to the Vietnamese people’s pursuit of freedom and prosperity.PM Chinh stressed Vietnam’s economic growth targets of at least 8 per cent this year and called for Europe’s continued support to help the country reach the goal, thus maintaining momentum for double-digit growth in the coming years.He highlighted Vietnam’s strategic advantages, including a large population, a prime geopolitical position in Asia’s growth region, and a stable, peaceful environment conducive to development. These factors, he said, make Vietnam an ideal hub for production, business, and exports.Mentioning existing challenges, the PM acknowledged procedural bottlenecks, compliance costs, slow decision-making, and issues related to taxation and customs. He assured that the Vietnamese government is committed to resolving these obstacles based on principles that benefit both European businesses and Vietnam’s economic growth.Sharing Vietnam’s socio-economic achievements in 2024, the PM expressed his gratitude for the EU’s contributions and the role of European businesses in the country’s success. Looking ahead, he underscored Vietnam’s determination to achieve even higher growth rates and become a major economic, trade, and investment hub in Asia by 2030.The PM called on EU businesses to expand their operations in Vietnam, positioning the country as a key production and supply chain hub. He reassured European investors of Vietnam’s commitment to providing opportunities, trust, and necessary conditions, making the nation a safe and beneficial investment destination.He said to meet the demands of high-tech industries such as semiconductor manufacturing, artificial intelligence (AI), cloud computing, and quantum technology, Vietnam aims to train 50,000 semiconductor engineers.The PM stated that Vietnam remains steadfast in maintaining independence, sovereignty, territorial integrity, political stability, social order, and legal stability, ensuring a secure and stable business environment for European enterprises.He called on European investors to carry out greater high-quality investments, boost advanced technology transfer, and support skilled workforce development for Vietnam in such areas as green economy, digital economy, circular economy, creative economy, knowledge-based economy, sharing economy, new energy, development of financial centres, green finance, marine economy, biotechnology, and healthcare. (ICE HO CHI MINH CITY)

Fonte notizia: Vietnam Investment Review