Viet Nam and the European Union (EU) have enjoyed a fruitful and efficient cooperative relationship in recent years, according to Minister of Finance Ho Duc Phoc, who met with representatives from the EU-ASEAN Business Council (EU-ABC) on Monday.
Led by Jens Ruebbert, Managing Director & Regional Head of Asia/Pacific at LBBW and Vice Chairman of the EU-ASEAN Business Council, the delegation is currently on a working visit to Viet Nam to enhance connections and promote collaboration between the European and ASEAN business communities.
Minister Phoc noted that EU investors had made significant contributions to Viet Nam's socio-economic development, particularly in green energy projects such as solar and wind power. The country is also committed to pursuing circular economy practices and reducing emissions and greenhouse gas effects.
He noted Viet Nam participated in the 26th UN Climate Change Conference of the Parties (COP26). Recognising the urgency of the tasks assigned as a result of COP26, the Ministry of Finance paid great attention to budget allocation and social resource mobilisation.
Phoc said he hoped that the delegation and EU businesses would continue to support and invest in Viet Nam. The Finance Minister said the ministry would instruct tax and customs agencies to offer favourable conditions for businesses in customs clearance and tax obligation.
Jens Ruebbert, Managing Director & Regional Head Asia/Pacific at LBBW, said his delegation, representing more than 60 representatives from European businesses, were interested in the Vietnamese market and considered it a very important one.
According to Jens Ruebbert, the cooperative economic relationship between Viet Nam and the EU has developed well over the years, marked by EU-Vietnam Free Trade Agreement (EVFTA).
Ruebbert told Phoc that amid the recent geopolitical situation, the EU had redefined ASEAN as an area for increased and redirected investment in which Viet Nam would be considered a top country by the EU.
Ruebbert emphasised that Viet Nam had a great ambition when it committed to net zero emissions by 2050. These were the areas where European businesses could enhance cooperation and support Viet Nam.
Also at the meeting, the two sides discussed promoting further cooperation in areas such as digital transformation and reforms in international tax and strengthening the stable development of the capital market and green economic development. — VNS