Minister Nguyen Manh Hung speaks at the reception of the EU-ASEAN Business Council
Speaking at the reception, Minister Nguyen Manh Hung expressed his pleasure to welcome the EU-ABC High-Level Business Delegation and EuroCham. The Minister emphasized that this annual meeting is of great significance. With the participation of more than 100 representatives from nearly 40 European organizations and businesses, it shows the great interest and confidence of the European business community in the investment and business environment in Vietnam.
Minister Nguyen Manh Hung said that EuroCham currently gathers nearly 1,400 businesses, playing an important role in promoting economic , trade and investment relations between Vietnam and the EU, especially within the framework of the Vietnam-EU Free Trade Agreement (EVFTA).
The Minister emphasized that 2025 marks the 35th anniversary of the establishment of Vietnam-EU diplomatic relations, a favorable time for the two sides to open a period of deeper and more substantive cooperation in the fields of science and technology, innovation and digital transformation.
Vietnam has identified these three sectors as the central driving force of growth, aiming to contribute at least 50% of GDP growth in the coming decades. The Vietnamese Government has established a Central Steering Committee headed by General Secretary To Lam to direct and promote breakthroughs in the three sectors.
Regarding resources, the Minister said that the state budget for science and technology, innovation and digital transformation is being increased from about 1% to about 3% and will continue to increase in the coming time.
Vietnam aims to strongly apply the mechanism of co-funding research with enterprises according to the principle of "The State spends 1 dong, enterprises and society spend 3-4 dong", striving to increase the investment rate for research and development (R&D) to about 2% of GDP and in the long term towards 5% of GDP equivalent to advanced countries.
The Ministry of Science and Technology is presiding over the drafting and amendment of many important laws, such as the Law on Digital Transformation, the Law on Technology Transfer (amended), the Law on High Technology (amended), and the Law on Artificial Intelligence to perfect the legal framework, create a favorable environment for technology transfer, develop new technologies, digital economy and knowledge economy.
Along with that, the system of preferential policies for R&D activities and innovation centers, including foreign-invested organizations, has been and is being completed in terms of investment, tax, land, bidding, etc. to encourage businesses to invest in research, technological innovation and improve competitiveness.
Vietnam prioritizes the development of emerging and strategic technologies, such as semiconductors, artificial intelligence, new energy, cyber security, biotechnology, quantum technology, etc. These are all areas where European businesses have strengths, opening up many spaces for cooperation in both investment in production, research, innovation and training of high-quality human resources.
Mr. Chris Humphrey, CEO of EU-ABC
Speaking at the reception, Mr. Chris Humphrey, Executive Director of EU-ABC, sincerely thanked Minister Nguyen Manh Hung for taking the time to receive the delegation. At the same time, he highly appreciated the opportunity for direct dialogue between the EU business community and Vietnamese agencies.
According to Mr. Chris Humphrey , the cooperation between EU-ABC and Vietnam has achieved many positive results in recent times, demonstrated through large working delegations to Vietnam as well as the increasing interest of European businesses in the Vietnamese market.
Mr. Chris Humphrey said that the EU-ASEAN Business Council currently has about 120 representatives from 40 member organizations and businesses. European businesses continue to consider Vietnam an important partner in ASEAN.
The EU and Vietnam are currently the largest trading partners in the region, with the EVFTA having been in effect for more than 5 years, contributing to strongly promoting bilateral trade and investment. Through the EVFTA, Vietnam has mobilized about 300 million USD and export turnover to the EU has increased by an average of about 15%/year, reflecting the increasingly close connection between the two economies.
Ms. Hoang Tri Mai, Member of the Board of Directors of EuroCham Vietnam, Managing Director, Airbus Vietnam, Laos and Cambodia
The EU business community highly values Vietnam’s open trade environment, economic reforms, macroeconomic stability and export competitiveness. The rapid digital transformation process also contributes to strengthening Vietnam’s position as one of the leading destinations in ASEAN for foreign investors, especially in the fields of production, manufacturing and renewable energy.
EU-ABC acknowledged the efforts of the Vietnamese Government and highly appreciated the proactive role of the Ministry of Science and Technology in implementing Resolution 57 of the Politburo on science, technology development, innovation and national digital transformation.
In 2025, the Ministry of Science and Technology will continue to play a core role in the process of building and amending strategic laws such as the Law on Digital Transformation, the Law on Technology Transfer (amended), the Law on High Technology (amended) and the Law on Artificial Intelligence, thereby forming a strong legal framework to promote science, technology, innovation and digital transformation.
At the meeting, representatives of European enterprises and leaders of units under the Ministry of Science and Technology had a lively and frank discussion about cooperation opportunities in the coming time. The discussion focused on the fields of science, technology and innovation; standards, measurement, quality; intellectual property; and postal services.
Reception scene
Minister Nguyen Manh Hung highly appreciated the contributions of European enterprises, which showed great interest and desire to increase long-term presence in Vietnam, accompanying Vietnam on the path of developing science, technology, innovation and digital transformation.
Minister Nguyen Manh Hung affirmed that the Ministry of Science and Technology always considers enterprises as the central subject of the innovation ecosystem and hopes that European enterprises will continue to be pioneers and active agents in this process.
The Minister emphasized that the Ministry of Science and Technology will always accompany, listen and act together with businesses. “Please consider Vietnam as your home, consider the Ministry of Science and Technology as a common home. When you encounter difficulties or problems while operating in Vietnam, please do not hesitate to contact us,” said the Minister.
The Minister also expressed his hope that European enterprises would link their investment and business strategies with the goal of building a prosperous Vietnam, thereby creating a foundation for their own stable and sustainable development.
The Minister hopes that after this working session, many specific cooperation opportunities will be established, towards a period of deeper, more substantial and effective cooperation between the European business community and Vietnam…/.
Source: https://mst.gov.vn/bo-truong-nguyen-manh-hung-tiep-hoi-dong-kinh-doanh-chau-au-asean-19725112517314224.htm
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