Belgian enterprises look to boost investment in Vietnam

Belgian enterprises have expressed their interest in Vietnam’s economic prospects and business cooperation opportunities at a business seminar held in Brussels on April 22.

At the event (Photo: VNA)
At the event (Photo: VNA)

The event was jointly held by the Embassy of Vietnam in Belgium and Luxemburg, the Vietnamese Delegation to the European Union (EU), Flanders Investment and Trade (FIT), and the Belgian Vietnamese Alliance.

At the seminar, entitled “EVFTA-EVIPA: Promoting supply chain diversification in the COVID-19 context”,Belgian enterprises raised a number of issues as well as opportunities and challenges since the EU-Vietnam Free Trade Agreement (EVFTA) and other FTAs that Vietnam has participated in took effect.

They also discussed Vietnam’s efforts in improving business and investment environment, administrative reforms, incentives for Belgian businesses in Vietnam, the simplification of entry procedures for Belgian experts and enterprises in the context of the COVID-19 pandemic, and others.

Vietnamese Ambassador to Belgium and Luxemburg Vu Anh Quang called on Belgian enterprises to contribute to promoting the approval of the EU-Vietnam Investment Protection Agreement (EVIPA) in Belgium for the sake of enterprise in both Vietnam and Belgium.

Duong Minh Tri, a representative from the Belgian Vietnamese Alliance said that more Belgian enterprises wish to invest in Vietnam, particularly since the implementation of the EVFTA, adding that tax reduction is one of the incentives for Belgian investors to expand their market in Southeast Asia.

Belgium currently has 78 projects in Vietnam with total registered capital of US$1.1 billion, ranking 23rd among the 131 countries and territories investing in Vietnam.

Belgium’s investment focuses on the fields of seaport, infrastructure, logistics, real estate, water supply and drainage, waste treatment, manufacturing, electricity production and distribution, and others.