EVFTA promotes FDI flow from Europe to Vietnam

QNN |

(QNO) - Foreign direct investment (FDI) from the European Union (EU) to Vietnam in the medium and long term is forecast to increase significantly with high-quality projects.

A manufacturing factory in Quang Nam province, Vietnam
A manufacturing factory in Quang Nam province, Vietnam
 

Accordingly, after one year of implemeting the EU-Vietnam Free Trade Agreement (EVFTA),  the trade and investment exchanges between Vietnam and the EU have achieved positive results despite of the complicated Covid-19 epidemic.

The total import and export turnover between Vietnam and the EU reached 54.6 billion USD, up 11.9% over the same period. The export turnover from Vietnam to the EU reached 38.5 billion USD, up 11.3 %. The Vietnam’s import turnover from the EU reached 16.2 billion USD, up 12.4%.

Until September 2021, Vietnam attracted 2,242 projects from 26/27 EU countries with a registered investment capital of 22.24 billion USD (an increase of 164 projects and 483 million USD over the same period last year), accounting for 6.57% of the projects and 5,58% of the total registered investment capital from countries and territories in Vietnam.

Shell Group (Netherlands), Total Elf Fina (France - Belgium), Daimler Chrysler (Germany), Siemens, Alcatel Comvik (Sweden)....are among EU’s large corporations operating effectively in Vietnam.

The EU’s investment in Vietnam mainly focused on hi-tech industries.

Recently, EU’s businesses have tended to invest in service industries (posts and telecommunications, finance, offices for rent, retailing), clean energy, auxiliary industries, food processing, high-tech agriculture, medicine.  

At the same time, several Vietnam’s businesses have taken advantage of the EVFTA to export their products to the EU.

TAGS

EVFTA: Opportunities and challenges

QNN |

(QNO) - The European Union (EU) - Vietnam Free Trade Agreement (EVFTA) officially coming into effect on August 1st, 2020 has promoted the EU-Vietnam trade cooperation.

Fruitful result after one year of EVFTA

QNN |

(QNO) - The EU-Vietnam Free Trade Agreement (EVFTA), coming into effect on August 1, 2020, has produced initial positive results, which become a strong motivation to promote the Vietnam - EU cooperation relationship in the coming time.

EVFTA: stepping up Vietnam-EU trade and investment

QNN |

(QNO) - EVFTA (The EU-Vietnam Free Trade Agreement) is the first FTA that has been signed by EU and a developing country in the Asia-Pacific region. It is a comprehensive, hi-quality agreement with a deep and broad commitment.