EVFTA boosts trade activities between European and Da Nang partners

The EU-Vietnam Free Trade Agreement (EVFTA) has added fresh impetus to the acceleration of trade and export activities between partners based in Europe and the central city of Danang, according to insiders.

Overview of the meeting (Photo: congthuong.vn)

This information was released during a meeting held on June 3 between the European Chamber of Commerce in Vietnam (EuroCham) and Vietnamese central provinces.

Upon addressing the seminar, Ho Ky Minh, vice chairman of the Da Nang People's Committee, emphasized that Europe has been one of the city’s important trading partner and third largest export market, duly accounting for nearly 90% of the central city’s total import and export turnover.

By the end of the second quarter of the year, European investors have injected roughly US$480 million in 140  projects in Da Nang.

Minh expressed his desire to further ramp up investment and trade co-operation with European countries and called for greater investment to be made by European enterprises in major fields moving into the post-COVID-19 pandemic period.

Phan Quy Phuong, vice chairman of Thua Thien Hue province’s People's Committee, expressed his hope that European firms will pay greater attention to green projects towards sustainable development in the locality.

For his part, Ho Quang Buu, vice chairman of the Quang Nam provincial People's Committee, revealed that European businesses have invested in 38 projects with a total investment capital of US$395 million in Quang Nam province, adding that the majority of European investors have carried out green projects with a particular focus on environmental protection within the locality.

Furthermore, Quang Nam has also called on European enterprises to invest in industrial parks, especially eco-industrial parks, Buu said, adding that the province is forming a number of criteria for an eco-industrial park.

At present, the locality has paid close attention to developing pharmaceutical industry as a means of fully tapping into the numerous advantages of the Ngoc Linh ginseng growing area, as well as developing mechanical and logistics sectors, Buu noted.

Boasting several advantages in terms of land fund, a good land price policy, and young workforce, he expressed his wish that EU investors will inject additional capital into the logistics and transportation sectors in the future.

Delphine Rousselet, director of EuroCham in Vietnam, stressed that EuroCham will accompany the goals set by Da Nang, Quang Nam, and Thua Thien Hue, all of which are considered key localities in the East-West economic corridor.

According to details given by the EuroCham representative, many European businesses remain keen on the policy of developing green economy and circular economy.

She also underscored the importance of the harmonious development of economics, culture, and society to achieve green development and environmental protection in these central localities.

VOV