EuroCham launches Whitebook 2022

On February 16, in Hanoi, the European Chamber of Commerce in Vietnam (EuroCham) launched the White Book 2022-2023 with the content: "Efforts towards green economy and sustainable development, comprehensive implementation of EVFTA and completion of ratification of EVIPA".

Speaking at the launch, Mr. Alain Cany, Chairman of EuroCham, said that the launch of the white book and the accompanying dialogues provide opportunities for mutual understanding as well as solutions for the development of various sectors. Based on the main points in the white book, agencies and businesses can set sustainable development ambitions in Vietnam. The program focuses on many key issues of Vietnam such as healthcare, green economy and sustainable development, promoting innovation and investment.

Mr. Alain Cany emphasized: “We will make recommendations on water and waste management, prioritizing offshore wind power development, green buildings... In addition, there are new regulations on visas and work permits to attract foreign human resources, because with the Vietnam - EU Free Trade Agreement (EVFTA), attracting foreign investment includes not only capital flows but also the best human resources”.

According to Mr. Thomas Wiersing, interim representative of the European Union (EU) Delegation to Vietnam, the EVFTA has brought success in import-export and investment between both Europe and Vietnam. The publication of the White Book will help strengthen investment cooperation and attract capital to Vietnam.

"To more effectively implement EVFTA and this cooperation, we hope to receive more support from businesses and the Vietnamese Government to make the most of the existing advantages," said Mr. Thomas Wiersing.

Green and efficient energy was also one of the many topics discussed at the event. According to the White Book, Vietnam has many opportunities for growth in investment and development of renewable energy, wind power as an alternative solution, supporting the country's transition process.

According to Stuart Livesey, representative of CIP Group, new energy sources such as offshore wind power require operating systems that are adapted to specific characteristics. To meet this requirement, the average annual investment in this field will need tens of billions of USD. However, the complexity of implementing these projects, mainly due to the lack of a legal framework, slows down the investment capital needed to achieve net zero emissions.

Some opinions at the launch expressed their expectation for clearer information on Vietnam's Power Development Plan and related policies; quickly building a legal and policy framework to allow private investment in national energy.

Mr. Nguyen Quang Vinh, Vice President of the Vietnam Federation of Commerce and Industry (VCCI), said that many aspects such as energy conversion, renewable energy development, low-carbon hydrogen, waste-to-energy conversion or green tourism ... are still new issues. To attract investment in these areas, it is necessary to soon introduce necessary measures and policies to provide a clear context for foreign investors. Otherwise, it will be difficult to achieve sustainable growth in the coming years.../.

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