Illustrative image. (Photo: tapchitaichinh.vn)Up to 35percent of European business leaders see administrative procedures as a barrierin the implementation of the European Union - Vietnam Free Trade Agreement (EVFTA), according to the 2021 White Book released recently by the European Chamber of Commerce (EuroCham) in Vietnam.
Aliberti said that there is great investment potential from theEuropean Union, especially in high-value sectors.
EuroCham is committed to supporting the Vietnamese Government in setting up asustainable development roadmap to bring better investment opportunities in thefuture for the business communities of the two sides, he added.
In early 2021, European business leaders made a positive and optimisticassessment about Vietnam’s trade and investment environment. The BusinessClimate Index (BCI) of Vietnam reached 73.9 points in the first quarter of thisyear, the highest score recorded since the third quarter of 2019, before theCOVID-19 pandemic hit global trade and investment.
However, the fourth wave of COVID-19 infections in manyprovinces and cities across the country caused the BCI to drop by nearly30 points in the second quarter of this year to only 45.8 points.
According to Aliberti, the outbreak of the pandemic led to certain disruptionsduring the social distancing period in Vietnam and other countries in theregion. However, Vietnam has made remarkable reforms to implement the EVFTA such as its efforts related to certification of origin andgeographical indications with very specific improvements, he said, adding thatthis is a very important starting point.
The official said the EU and Vietnamwill witness the opening of their markets along with tariff reductions,opening a new wave of trade for the business communities of the two sides inthe future. If the two sides cooperate to solve difficulties, the post-pandemicrecovery will quickly achieve desirable results, towards a brighter and moreprosperous future in the relationship between Vietnam and the EU, he said./.
VNA
