Strong demand sends market up
By Le Hoang
HCMC – HCMC has ample opportunities to attract investments from members of the European Union (EU) as the European Union-Vietnam Free Trade Agreement (EVFTA) has taken effect, said ambassador of the European Union to Vietnam Giorgio Aliberti at a meeting with HCMC Chairman Nguyen Thanh Phong and ambassadors from EU countries on October 29.
At the meeting, Giorgio said the EVFTA would boost bilateral trade between the EU and Vietnam and help Vietnam attract more foreign investment and participate in more global value chains.
The Vietnamese Government and the HCMC authorities should improve the local investment environment to attract investments more effectively, he added, stressing that EU investors expected a stable investment environment with predictable policies.
HCMC Chairman Nguyen Thanh Phong said the presence of ambassadors and general consuls of EU countries in HCMC proved the interest of these countries in the local market and their confidence in the city’s development potential, especially after the EVFTA came into effect.
HCMC is calling on EU investors to invest in the hi-tech processing and manufacturing, renewable energy, transport and logistics, banking and finance sectors and high-quality services.
The city would improve its infrastructure, prepare clear land and high-skilled laborers and simplify administrative procedures to welcome investors, Phong said.
The city has many key products that offer a competitive edge in both quality and prices, such as farm produce, textiles and garments and leather shoes, Phong noted, adding that ambassadors are an important bridge for HCMC enterprises to approach the EU market.
At the meeting, the ambassadors of the EU countries in Vietnam expressed their interest in the local market and proposed the HCMC authorities set up favorable conditions so firms from their countries can seek investment opportunities in education, logistics infrastructure, waste-to-energy, agriculture, the circular economy and urban traffic sectors.
This year marks the 30th anniversary of the EU-Vietnam relations.
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