European firms considers Vietnam feasible investment destination
Many European businesses said Vietnam would be a feasible investment destination after the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Promotion Agreement (EVIPA) come into force, Helena Konig, EU chief negotiator and Deputy Director General for European Trade, said on June 28.
Brussels (VNA) – Many European businesses said Vietnam would be a feasibleinvestment destination after the EU-Vietnam Free Trade Agreement (EVFTA) andthe EU-Vietnam Investment Promotion Agreement (EVIPA) come into force, HelenaKonig, EU chief negotiator and Deputy Director General for European Trade, saidon June 28.
Konigtold Vietnam News Agency (VNA) correspondents in Brussels ahead of her trip toVietnam for the signing of the deals, slated for June 30, that the agreementswill build Vietnam into a connectivity centre of the Association of SoutheastAsian Nations (ASEAN).
Europeanfirms have also seen the country as an important berth in the region with opportunitiesfor pouring more investments into Vietnam and accessing the ASEAN market viathe country, she added.
Theyshowed their support for negotiations of the EVFTA and the EVIPA as they recognisevarious opportunities generated by the agreements, which include many articlesthat help to simplify procedures for businesses in Vietnam and the EU,according Konig.
Shesaid after the signing, the deals will be submitted to the European Parliament (EP)for approval, and the EVFTA will be the first big FTA that needs the consent ofthe parliament.
Konigsuggested Vietnam and the EU work together to interpret social and economicbenefits brought about by the agreements to both sides, while popularsing themamong the public.
Reviewingthe negotiation process, the EU official said she was impressed by theVietnamese negotiating delegation’s capacity.
Vietnamis well aware that the agreements will support its development in the future,she said, adding that apart from tax issues, the two sides spent time talkingabout Government procurement and services.
Despitedifferences, the two sides still reached consensus on the path ahead, shenoted.-VNA
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) will create opportunities for Vietnam to boost agricultural exports and improve the capacity of the domestic farming sector, heard a conference in Hanoi on June 26.
The European Union – Vietnam Free Trade Agreement (EVFTA) and the EU – Vietnam Investment Protection Agreement (EVIPA) are of significance to both Vietnam and the EU.
The EU – Vietnam Free Trade Agreement (EVTA) to be signed on June 30 will bring both opportunities and challenges to Vietnam, so domestic enterprises should be really prepared to take full advantages of benefits from the deal, said Sebastian Eckardt, lead economist of the World Bank (WB) in Vietnam.
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Illustrative image (Photo: VNA) 
