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 hinh anh 1At the talk held in Brussels on April 22 (Photo: VNA)

Brussels (VNA) – 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.

At the event, which was jointly held by the Vietnamese Embassy in Belgium and Luxembourg, the Vietnamese delegation to the EU, the Flanders Investment and Trade (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 has clinched.

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’s entry procedures for Belgian experts and businesspeople during COVID-19.

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

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

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

Charles Vanderstraeten from DSV Solutions, which has already set up a branch in Vietnam, told Vietnam News Agency’s correspondent that the trade pact facilitates Belgian firms’ operation in Vietnam, adding his business will have more 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 in Vietnam, and the company has had more chances to develop its business thanks to the EVFTA.

Belgium currently registers 1.1 billion USD in 78 projects in Vietnam, becoming the 23rd largest investor among 131 countries and territories landing investment in the nation. Most of the investments are in sea port, infrastructure, logistics, real estate, sewage treatment, processing and manufacturing, power generation and distribution, among others./.
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