An executive from a European firm introduces its wastewater treatment technologies at a meeting held in HCM City on Thursday between a visiting EU business delegation and local entrepreneurs. — VNS Photo Xuan Huong

HCM

Speaking at the event, Vo Tan Thanh, director general of the Viet Nam Chamber of Commerce and Industry in HCM City, said the EU has been one of Viet Nam's most important trade partners for the past two decades.

Bilateral trade last year was worth US$41.4 billion, a year-on-year increase of 18 per cent.

Since European and Vietnamese products and services are more complementary than competitive, the two sides can continue to increase trade, Thanh said.

Talking about water and the environment, he said in recent years combating global warming and protecting the environment have been among the most significant concerns the world over, including Viet Nam, he said.

Viet Nam has had to deal with many disasters caused by El Nino and climate change, he said.

"Therefore, both our Government and people are trying their best to build a green economy and ensure sustainable development."

With its strengths in technology, "The EU is a significant partner for us in this."

Tom Corrie, deputy head of the co-operation and development section at the EU Delegation to Viet Nam, said it is now an interesting time to do business in Viet Nam.

Its economy is very dynamic, growing at 6-7 per cent a year, he said, adding that free trade agreements, in particular the European-Viet Nam FTA, which takes effect in 2018, would create opportunities for businesses in the two countries to work together.

The business mission came to HCM City as part of the EU Business Avenues in South East Asia programme (EUBA) to help SMEs tap business opportunities in the fast-growing region.

The programme will see 20 targeted week-long business missions to Southeast Asia for up to 1,000 European SMEs in a range of sectors over the next five years, with the inaugural mission focusing on environmental and water technologies visiting Singapore and HCM City.

In HCM City, the visitors introduced a broad range of solutions to address the acute problems faced in Asia – the lack of clean water and environmental degradation.

Tran Thi Hieu Hanh, deputy director general of the city's Department of External Relations, said HCM City always welcomes and creates favourable conditions for foreign investors to invest and do business in the city.

The event was organised by the VCCI's HCM City branch, EUBA and others. — VNS