Binh Phuoc commits to accompany the business community and investors in Europe

The forum was organized by the Voice of Vietnam Radio (VOV) and the Committee on Vietnamese Overseas, the Ministry of Foreign Affairs of the Union of Vietnamese Business Associations in Europe.

At the European bridge point, there were representatives of Vietnamese business associations in Europe and member business associations from 14 European countries.

Joining at the online forum, Binh Phuoc Chairwoman Tran Tue Hien introduced the overview of potential, strengths, opportunities and challenges for Binh Phuoc when EVFTA officially came into effect.

At present, cashew nut export turnover of the province is about 850 million USD / year, wood export is about 200 million USD, biomass pellets 200 million USD, textiles and garments 500 million USD, the contribution of FDI enterprises is expected. by 2025, to reach 5-10 billion USD.

With the advantage of agriculture, Binh Phuoc province has about 200 goods exported to foreign markets. In order to attract and call for investment, the province has organized a planning of 10,000 ha funds to develop industrial parks and clusters, deploy labor training, attach importance to developing hi-tech agriculture.

In the process of integration, Binh Phuoc province needs consensus, cooperation and support from the Vietnamese business community resources in Europe.

Through the forum, the province committed to accompany the business community, investors in Europe. Especially the Vietnamese community in Europe invests in cooperation and joint investment with businesses of the province.

EVFTA officially came into effect on August 1, 2020, after many years of negotiation. This is a great success of Vietnam and also a golden opportunity for businesses when many countries have not yet been granted this mechanism by Europe.

EVFTA will help reduce export taxes, improve goods competitiveness for both Vietnam and Europe. However, under the pressure of EVFTA, Vietnamese enterprises must quickly improve many aspects so that products with certification into the EU or compete with EU products right in Vietnam ...

Currently, Vietnam and EU import-export turnover in 2019 has reached 56.4 billion USD with a high annual growth. However, Vietnamese products exported to Europe are mainly raw or processed products, and a few Vietnamese brand products. The great advantage of EVFTA when it comes into effect is that Vietnam currently has tens of thousands of overseas Vietnamese enterprises, thousands of import-export and wholesale enterprises, who are well-versed in the laws of the host country and are a bridge for foreign businesses. Vietnam - EU businesses.