Fostering cooperation between Vietnam and Europe business communities

During the meeting, it was highlighted that tight cooperation between the two sides helps not only enterprises but also the country's general interests. They indicated a wish to create a long-term partnership between EuroCham and VCCI.

Mr. Dominik believes that one of the major tasks for both parties in 2024 will be to promote the growth  of a green economy. EuroCham began introducing premier European technology to partner with Vietnamese enterprises in 2020. He expects that fostering Vietnam's transformation to a green economy would attract more investment from European corporations, as well as active participation from Vietnamese enterprises.

In addition to economic transformation Mr. Dominik was particularly interested in the European Green Deal-EGD, which is planned to be released with multiple initiatives for forest conservation, supply chain management, and evaluation. EuroCham believes that in the future, both parties will work together to conduct training programs for European and Vietnamese firms, guaranteeing effective enforcement of measures in this regard.

Recently, VCCI has offered several training programs for domestic enterprises. As a result, EuroCham Chairman believes that collaborating to invite experts from European Union member states or the European Commission to help and exchange information for these training programs would be extremely beneficial.

With the goal of improving cooperation between the two regions, EuroCham highlights that in order to diversify the supply chain from Vietnam to the European Union, Vietnamese firms must comply to the previously established norms.

Compliance with these standards will be critical in achieving considerable progress in collaboration between Vietnamese and European enterprises, both now and in the future.

Listening to EuroCham Chairman's remarks, VCCI President Pham Tan Cong said that now is an excellent opportunity to strengthen collaboration between the Vietnamese and European business communities.

The VCCI President also acknowledges EuroCham members' efforts to promote the growth of a green economy in Vietnam. According to the VCCI's head, both sides have significant potential for collaboration in fostering green growth, energy transition, and other initiatives. With their knowledge and technology, European enterprises can fully capitalize on potential investment and commercial partnerships in Vietnam.

Vietnamese firms may get deeper access to the EU market through collaboration between their respective business communities, while European businesses can increase their product penetration into the ASEAN market.

To further future cooperation, the VCCI President suggests that VCCI and EuroCham continue to work closely together to exchange information on policy proposals for enhancing Vietnam's investment business climate. This will allow European enterprises to operate successfully in Vietnam.

The President of VCCI reiterated that VCCI would constantly accompany and closely collaborate with EuroCham to assist EU firms coming to Vietnam in seeking and increasing investment and commercial opportunities. Given the capabilities and vitality of both economies, economic cooperation between Vietnam and Europe has a lot of room for additional vigorous development in the future.