A 4-million-EUR project was signed in Ho Chi Minh City on October 21 to help business players from the European Union (EU) to seek investment opportunities in Vietnam.

The project is seen as a joint effort by the EU Delegation to Vietnam and the French Chamber of Commerce and Industry in Vietnam to lure more investment from European businesses, especially small-and-medium-sized (SMEs), in the Southeast Asian country.

It is expected to benefit both European and Vietnamese businesses as well as boost their economic-trade relations in the time to come, said Ambassador Franz Jessen, head of the EU Delegation to Vietnam .

Under the project, a SME supporting centre is scheduled to be set up in HCM City in November this year, which will help promote bilateral trade and investment, he added.

According to Chairman of the chamber Pierre-Jean Malgouyres, one of the priorities of the project is to create all favourable conditions for both sides’ businesses to promote their cooperation with specific support programmes and practical services.

As Vietnam and Europe have enjoyed an increasingly sustainable growth in their bilateral cooperation through a number of trade agreements, the two sides need to diversify their activities to cement their trade links, experts said.

European businesses hope to study the investment climate in such potential market as Vietnam, they noted.-VNA