European business leaders were more positive about Vietnam’s trade and investment environment in the first few months after Covid-19, according to data from the Business Climate Index (BCI) of the European Chamber of Commerce in Vietnam (EuroCham).
Being the very second agreement signed between the European Union and a member of ASEAN, EVFTA is a testament to Vietnam’s growing leadership, not just in the region but also on the global scale.
Nicolas Audier, co-chairman of the European Chamber of Commerce in Vietnam (EuroCham), said that the trade pact will benefit not only companies and consumers, but also the welfare, wages and living standards of millions of people in Vietnam.
Confidence in Vietnam’s trade and investment environment, now at 81 points, is the second-highest result since the end of 2016, according to EuroCham.
Almost 80 per cent of European enterprises surveyed by EuroCham believe that the EVFTA will have either a 'significant' or 'moderate’ impact on their business in the medium term.
European enterprises are showing more confidence in Vietnam's trade and investment envỉonment as well as its macroeconomic outlook, according to EuroCham.
The sentiment of European and Europe-linked companies in Vietnam when it comes to theconditions for business in the Vietnamese market is moderately positive, according to EuroCham.
Over 46 million workers have not undertaken specialised training, hence the focus ought to be on upskilling this workforce in preparation for the jobs of the future, especially under the context of Vietnam's deep integration into the world economy.
There remains a big challenge of intellectual property ahead to be resolved although brilliant sides of to-be-ratified EU Vietnam free trade agreement are miracle growth of mutual ex-import revenue and rising number of foreign companies in due to removal of hurdles.
The EU - Vietnam Free Trade Agreement (EVFTA) endows Vietnam with comparative advantages no other country in the region excepting Singapore has.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
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