EVFTA boosts European investment and trade with Vietnam (Photo: vneconomy) Besides Vietnam, the EU has signed FTAs with three other Asian countries: the Republic of Korea, Singapore, and Japan. Changing EU’s investment picture in Vietnam Vietnam has emerged more attractive to European businesses as a result of the nation’s stronger growth, reform, and international integration. The number of members of the European Chamber of Commerce (EuroCham) in Vietnam has topped 1,000. Before the EVFTA was signed, European businesses had opened branches or sought partners in Vietnam to capitalize on the deal. A recent EuroCham survey showed that 80% of member businesses think the EVFTA will have either a big or moderate impact on their mid-term or long-term plans. Minister of Industry and Trade Tran Tuan Anh said, “If the EVFTA is ratified, the investment and business environment in Vietnam will become more favorable for European companies. Investment dispute settlement mechanisms will be built and investment protection enforced on the basis of international law in line with Vietnamese and European laws. European investors will enjoy favorable conditions for continuing their investment in developing industries, which will tap Vietnam’s relative advantages and future potential.” The EVFTA will open the rapidly developing Vietnamese… Read full this story
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