Business

Belgian enterprises eye business expansion in Vietnam

Belgian enterprises expressed their interest in Vietnam’s economic prospects and business cooperation opportunities in the Southeast Asian country at a talk held in Brussels on April 22.
Belgian enterprises eye business expansion in Vietnam ảnh 1At the talk held in Brussels on April 22 (Photo: VNA)

Brussels (VNA) – Belgian enterprises expressed their interest inVietnam’s economic prospects and business cooperation opportunities in theSoutheast Asian country at a talk held in Brussels on April 22.

At the event, which was jointly held by the Vietnamese Embassy in Belgium andLuxembourg, the Vietnamese delegation to the EU, the Flanders Investment andTrade (FIT), and the Belgian – Vietnamese Alliance (BVA),the firms highlighted advantages and challenges brought about by the EU –Vietnam Free Trade Agreement (EVFTA) and several trade deals that Vietnam hasclinched.

Besides, they talked about Vietnam’s efforts to better its business climate,incentives for Belgian firms who land investment in Vietnam, as well as Vietnam’sentry procedures for Belgian experts and businesspeople during COVID-19.

Vietnamese Ambassador Vu Anh Quang updated the participants on the outcomes ofthe 13th National Party Congress, implementation of the EVFTA, andthe Vietnam – Belgium trade ties.

He called on the Belgian businesses to help push for the ratification of theEU-Vietnam Investment Protection Agreement (EVIPA) in their country, helpingbetter serve benefits of companies of both nations.

According to Duong Minh Tri, a representative from the BVA, there is anincreasing number of Belgian firms wishing to invest in Vietnam, particularlyafter the EVFTA came into force.

Charles Vanderstraeten from DSV Solutions, which has already set up a branch inVietnam, told Vietnam News Agency’s correspondent that the trade pactfacilitates Belgian firms’ operation in Vietnam, adding his business will havemore opportunities to develop in this Southeast Asian nation.

Meanwhile, Eric Franssen, trade and development director at John Cockerill,said that his firm is carrying out several energy and environment projects inVietnam, and the company has had more chances to develop its business thanks tothe EVFTA.

Belgium currently registers 1.1 billion USD in 78 projects in Vietnam, becomingthe 23rd largest investor among 131 countries and territorieslanding investment in the nation. Most of the investments are in sea port,infrastructure, logistics, real estate, sewage treatment, processing andmanufacturing, power generation and distribution, among others./.
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#Belgian enterprises #Vietnam’s economic prospects #business climate #Vietnam – Belgium trade ties #Vietnamese Ambassador Vu Anh Quang #EVFTA #EVIPA #Vietnam News Agency #Vietnamplus Belgium
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