Vietnam's economic opportunities continue to exceed those of its regional and international peers. This is evident from the fact that so many of EuroCham's members consider Vietnam central to their global investment strategies.
EuroCham Chairman Alain Cany said that in the launching ceremony of 2022-2023 Whitebook, with the theme “Working Toward a Green Economy and Sustainable Development/ Full implementation of EVFTA and completing ratification of EVIPA”.
The chairman also said with this FDI, Vietnam's strong macroeconomic fundamentals, and its commitment to sustainability, the country is still among the top investment destinations in the world.
EuroCham invites its 1,300 members to provide quarterly feedback on Vietnam's business environment and forecasts for their own businesses in Vietnam.
The latest report said the BCI dropped 14.2 points compared to three months ago and 25 points from the first quarter of the year.
However, by 2023, 27% of respondents anticipated economic stabilisation or improvement in the first quarter of 2023
The report said 41% of respondents stated their company is shifting operations from China to Vietnam, up from 13% in the third quarter
While nearly 35% of firms ranked Vietnam among the top five global investment destinations for their company, with 12% stating that Vietnam was their firm’s top investment site globally.
The three most significant regulatory barriers to foreign companies operating in Vietnam were identified as a lack of clarity regarding rules and regulations (51 percent), administrative issues (41 percent), as well as visa and work permit difficulties (30 percent).
In terms of what Vietnam should do to improve its FDI attraction prowess, reducing administrative difficulties (70 percent) retained the top spot.
As of December 2022, marking more than two years of EVFTA implementation, 63%of respondents believe they are sufficiently knowledgeable about the EVFTA.
According to Thibaut Giroux, President of the French Chamber of Commerce and Industry (CCIFV), with the benefits of the EVFTA and EVIPA (under the process of ratification), many European investors choose Vietnam.
Because Vietnam has a Green Growth National Strategy, which is ready to take the necessary changes for a sustainable transition./.
