WEEKLY NEWSLETTER May 15, 2023 |
|
EuroCham holds productive meetings in Hanoi with key Vietnamese officials |
|
Last week, EuroCham concluded a series of highly productive meetings with esteemed government officials in Hanoi. Led by Chairman Gabor Fluit, the EuroCham delegation held significant discussions with some of Vietnam's key decision-makers.
On May 11 and 12, the delegation engaged in constructive dialogues with: - Minister of Planning and Investment (MPI) Nguyễn Chí Dũng and and the MPI's Foreign Investment Agency
- Deputy Minister of Foreign Affairs (MOFA) Nguyễn Minh Vũ and MOFA's Department of General Economic Affairs
- Deputy Minister of Agriculture and Rural Development (MARD) Trần Thanh Nam, plus its International Cooperation Department; Department of Livestock Production; Department of Animal Health; Department of Quality, Processing and Market Development; Department of Plant Protection; and Department of Horticulture
Representatives from EuroCham included: - Chairman Gabor Fluit
- Vice-Chairs Minh Nguyen and Søren Roed Pedersen,
- Advisory Board Member Horst Geicke
- EuroCham Executive Director Delphine Rousselet
- Head of Office Hanoi cum External Relations Manager Van Nguyen
These meetings provided EuroCham with a valuable opportunity to bring forth key advocacy points and effectively raise the voices of our membership across the country.
Chairman Gabor Fluit and representatives from EuroCham's Board expressed their commitment to building upon the solid foundation laid by their predecessors. Mr. Fluit also emphasized that now is the ideal time for European investors to rally behind Vietnam and highlighted the importance of European investors in fostering mutually beneficial growth.
Key points discussed during the meeting with MPI, Minister Dũng and the MPI's Foreign Investment Agency on May 11 were as follows: - EuroCham expressed gratitude to Minister Dũng for the MPI's efforts in the Vietnam Business Forum (VBF) and the recent Prime Minister's Conference on Foreign Direct Investment, as well as for their continuous support to EuroCham throughout the year.
- EuroCham expressed appreciation and support for MPI's handling of the National Green Growth Strategy. We also discussed potential initiatives EuroCham could undertake in this regard.
- The EuroCham Business Climate Index (BCI) was featured, emphasizing Vietnam's position as a top investment destination.
- EU companies' strategies and the evolving context for attracting FDI to Vietnam, including factors such as the global minimum tax, were highlighted.
- EuroCham described the potential and planned investments worth billions of dollars by its members, identified ongoing obstacles, and proposed solutions.
We were, of course, incredibly pleased for our Gold Premium Corporate Partner, DEEP C Industrial Zones, to be part of it! DEEP C Industrial Zones General Sales & Marketing Director and BeluxCham Board Member Koen Soenens attended for the meeting with Minister Dũng.
Following are the key points discussed during the meeting with MOFA, Vice Minister Vũ and MOFA's Department of General Economic Affairs on May 11: - MOFA was thanked for their support and efforts concerning visas.
- EuroCham presented visions and directions aimed at attracting more EU FDI to Vietnam.
- Discussions were held regarding potential and future collaborations between EuroCham and MOFA.
|
|
Pictured above: Meeting with MARD and Deputy Minister Trần Thanh Nam.
During the meeting with MARD, EuroCham, Deputy Minister Trần Thanh Nam and numerous MARD departments on May 12 discussed: - The Tay Ninh Business Connection Forum, scheduled for June 2.
- Future collaborations between EuroCham and MARD to promote agricultural products, exchange expertise, and provide high-tech agriculture education.
In addition, the Food Agri & Aqua Business Sector Committee (FAABS) was there to meet with Deputy Minister Trần Thanh Nam as part of the delegation. FAABS representatives included its Chairman Jesper Clausen and Vice-Chairman Paul-Antoine Croizé.
During the meeting, FAABS detailed some of its key advocacy topics, such as: - Adapting the legal framework to address innovative and new raw materials for feed production in the light of the current market situation and to increase sustainability.
- Implementing a one-health approach and perspective on aquaculture and livestock production in order to ensure prudent usage of antibiotics.
- Continued focus on the implementation of and how to expand benefits from the EU-Vietnam Free Trade Agreement (EVFTA).
FAABS also expressed interest to participate and support the food innovation hub and inquired on the current status of said project so as to provide support to the government.
EuroCham expressed their sincere gratitude to Minister Nguyễn Chí Dũng, Deputy Minister Trần Thanh Nam, and Deputy Minister Nguyễn Minh Vũ for their time and receptiveness to the concerns and aspirations of European investors.
As EuroCham continues to champion the interests of its members, these meetings serve as a testament to our organization's commitment to facilitating dialogue and promoting positive change in Vietnam's business landscape. |
|
| EUROCHAM NEWS AND ADVOCACY |
|
|
|
EuroCham raises concerns on Credit Institutions Law at meeting with Vietnam's National Assembly's Economic Committee |
|
EuroCham, together with three other foreign chambers, namely the Australian Chamber of Commerce in Vietnam (AusCham), the British Chamber of Commerce in Vietnam (BritCham), and the Japanese Chamber of Commerce and Industry in Vietnam (JCCI), held a constructive meeting on May 12 with Vietnam's National Assembly's Economic Committee. The purpose of the meeting was to discuss the concerns of foreign banks regarding the latest draft of the Law on Credit Institutions.
EuroCham's Head of Office Hanoi cum External Relations Manager Van Nguyen participated in the discussion, as well as EuroCham member Mr. Hai Dinh, CEO of BNP Paribas' Hanoi Branch.
A key point raised during the meeting was Article 127 of the draft law, which proposes to cap the credit limit for a single customer, as well as for customers and related parties, at 10% and 15% respectively of the equity capital of commercial banks and foreign bank branches. This reduction in credit limits will have an immediate impact on FDIs.
EuroCham expresses its appreciation to the National Assembly's Economic Committee for their attention to this matter. |
|
EuroCham representatives attend workshop on draft Law on E-Transactions organized by the Science, Technology and Environment Committee of the National Assembly |
|
On May 12, EuroCham Advocacy Manager Vinh Dang and Senior Sector Committee Coordinator Toan Le attended a workshop organized by the Science, Technology and Environment Committee of the National Assembly. The workshop focused on discussing the latest Draft Law on E-Transactions version dated May 9, 2023.
The drafting committee responsible for the law considered and addressed numerous issues raised by EuroCham, which were contributed by the Legal and Digital Sector Committees. Specifically, EuroCham advocated for two key aspects: ensuring the compatibility of the law with international practice and emphasizing its enforceability. These measures aim to promote the growth of Vietnam's digital economy, foster a favorable business environment for European investors and enterprises in Vietnam, and ultimately bring benefits to Vietnamese consumers.
The Draft Law is scheduled for discussion by the National Assembly in late May, with the expectation of being passed by the end of June this year. |
|
Spanish Chamber of Commerce Vietnam holds official launching, paving the way for stronger Spain-Vietnam economic ties |
|
Exciting news! The Spanish Chamber of Commerce in Vietnam (SCCV) was officially launched on May 12 at a ceremony at the residence of the Spanish ambassador to Vietnam, in collaboration with the Spanish Embassy and the Spanish Economic and Commercial Office in HCMC. The event was attended by its members, partners, stakeholders, and authorities from Vietnam, Europe, and Spain.
From EuroCham, Chairman Gabor Fluit, Vice-Chairman Minh Nguyen, Board Members Tri Mai Hoang and Javier Mendez Repiso (who is also the chairman of SCCV), Executive Director Delphine Rousselet, and Head of Office Hanoi cum External Relations Manager Van Nguyen were all there.
The SCCV has been in the works since 2018, aiming to formalize an association of companies, businessmen, and professionals in Vietnam. After obtaining the license to operate as a foreign business association from the Department of Industry and Trade of Ho Chi Minh City in August 2022, SCCV Chairman Javier Mendez Repiso joined the EuroCham Board as the SCCV's representation in March 2023.
Congratulations to the SCCV! At EuroCham Vietnam, we are delighted to witness them become a significant player in the business community in Vietnam, representing Spanish companies, businessmen, and professionals in the country. This new milestone in the bilateral economic-business relationship between Spain and Vietnam is expected to bring many fruitful opportunities for businesses in the two countries.
We look forward to continuing to work closely with SCCV in supporting the business growth and development of both Spanish and European companies in Vietnam! |
|
Successful resumption of Business Thursdays series, hosted by EuroCham for May, attracts over 120 attendees |
|
Last Thursday, the "Business Thursdays" series resumed in Hanoi and it was a smashing success! It was hosted by EuroCham for this May's edition and co-hosted by a retinue of European and non-European business associations. Nearly 120 attendees joined and were treated to an excellent opportunity to connect with the business community while enjoying tasty finger food and drinks at Tach Space.
Not only did participants make new connections and renew old ones, but they also had the chance to win exciting lucky draw prizes. The event was truly a one-of-a-kind opportunity for like-minded professionals to come together and network.
We were absolutely thrilled to have EuroCham Chairman Gabor Fluit, Executive Director Delphine Rousselet, and Head of Marketing & Communication Rebecca Bauden join us all the way from HCMC! They brought an amazing energy, mingling with our members, and toasting to the good times with everyone present. We were also honored by the presence of EuroCham Vice-Chairman Minh Nguyen and Board Member Tri Mai Hoang, plus Advisory Board Members Horst J. Geicke and Preben Hjortlund. |
|
The evening was truly a celebration of connections and shared success. We hope that you found the evening as enjoyable as we did! The feedback we've received from attendees has been overwhelmingly positive, and we're thrilled to hear that so many of you made new connections and had fun networking with others.
Big shoutout to our amazing sponsors who made Business Thursday an unforgettable success! Special thanks to our beer and coffee, hotel & resort, and dining restaurant sponsors: Alma Resort Cam Ranh, Cassia Cottage Phu Quoc, Cubes Asia, Edelweiss, Furama Resort Danang, Movenpick Resort Cam Ranh, Rivea, and Tui Blue Nam Hoi An. And a huge thank you to Tach Space for the stunning venue that set the perfect backdrop for our event. Your support means the world to us!
The turnout was fantastic, and we can't wait for the next "Business Thursdays" event in Hanoi that will be organized by the French Chamber of Commerce and Industry in Vietnam (CCIFV). See you there! |
|
The EuroCham Digital Sector Committee hosts webinar on insights and guidance for ensuring compliance with Vietnam's Personal Data Protection Decree |
|
The Vietnamese government recently issued a groundbreaking legislation on personal data protection known as the Personal Data Protection (PDP) Decree, which sets out the country's first consolidated set of data protection regulations. The much-awaited legislation will come into effect on July 1, and it is critical that businesses and organizations comply with the new regulations. To provide insights and guidance on how to ensure compliance, EuroCham's Digital Sector Committee hosted a webinar, featuring expert panelists who gave a comprehensive overview of the PDP Decree and offered valuable insights on how businesses and organizations can ensure compliance with this crucial piece of legislation. Chairman of the Digital Sector Committee, Bruno Sivanandan, moderated the event.
Eunjung Han, Vice-Chair of the EuroCham Digital SC and Consultant/Registered Foreign Lawyer at Rouse Legal Vietnam: - Set the context for the PDP Decree, and
- Explained its key provisions, including the definition of personal data, the scope of the law, and the rights of data subjects.
Khanh Nguyen, Senior Associate at Rouse Legal Vietnam, discussed: - The potential impacts of the PDP Decree on businesses and organizations,
- The differences between the PDP Decree and the GDPR,
- Insights on how companies can comply with the new regulations, including the importance of appointing a data protection officer and implementing appropriate data protection measures..
Yen Vu, Principal/Vietnam Country Manager of Rouse Legal Vietnam: - Provided recommendations to ensure compliance with the PDP Decree, including the need to conduct a thorough data protection impact assessment, and
- Noted the importance of implementing appropriate technical and organizational measures to protect personal data.
Attendees were also given the opportunity to engage in a lively Q&A session with the panelists. This was a valuable opportunity for businesses and organizations to ask specific questions about their own operations and how the new regulations would apply to them. The panelists addressed a wide range of questions, including issues related to data subject consent, data processing agreements, and cross-border data transfers.
Stay tuned for more updates on this crucial piece of legislation, and be sure to join us for our upcoming events.
Want to be part of the Digital Sector Committee? Drop an email to Toan Le at toan.le@eurochamvn.org and let's get started! |
|
Join EuroCham and KPMG on May 19 at the Sofitel Saigon Plaza for a breakfast briefing on optimizing operating costs and business performance during times of economic turmoil.
During the event, we will delve into: - The conundrum of cost-quality-speed in turbulent times,
- Planning, procuring, making and delivering your products and services at the right cost, quality, and speed,
- Value-driven supply chain planning - "Better planning helps to reduce cost and shorten speed to market,"
- The power of procurement excellence - "When the lowest price can be lower."
Cost (w/ breakfast): members - 700,000 VND, non-members - 900,000 VND |
|
EuroCham and BeluxCham would like to invite you to our upcoming Luncheon Seminar titled “Vietnam Retail Market & Consumer Trends” where we will be discussing the latest trends in the Vietnam Retail Market and Consumer Behavior.
The Vietnam Retail Market has been experiencing steady growth in recent years, driven by a growing middle class and increasing consumer spending. According to a report by the Vietnam Retailers Association, the retail market in Vietnam grew by 10.9% in 2020, despite the challenges posed by the COVID-19 pandemic.
Join us to hear our expert speakers' insights on the current state of the Vietnam Retail Market, including the latest trends and consumer behavior. |
|
Tay Ninh Province, an enticing and rapidly expanding hub for foreign direct investment (FDI) companies, is poised to host a momentous Business Connection Forum in collaboration with EuroCham and esteemed Tay Ninh government officials. Set to take place on June 2, this highly anticipated event aims to cultivate meaningful connections among organizations, investors, and both domestic and international enterprises.
The forum will witness the distinguished presence of key figures, including the honorable Minister of Agriculture and Rural Development (MARD) Le Minh Hoan, along with Tay Ninh's esteemed Party Secretary Nguyen Thanh Tam. Notably, leaders from the Ministry of Planning and Investment (MPI), Ministry of Science and Technology (MOST), and Ministry of Industry and Trade (MOIT) will also grace the occasion, alongside prominent Vietnamese companies present in the region.
Furthermore, a Gala Dinner, hosted by Tay Ninh's leaders, awaits on June 1 at the prestigious Melia Vinpearl Tay Ninh Hotel.
Tay Ninh Province warmly extends an invitation to EuroCham members, offering to cover travel and accommodation expenses. Space is limited! To secure your attendance, we kindly request that you RSVP by emailing Ms. Nhung at nhung@eurochamvn.org. |
|
In this webinar co-organized by EuroCham and Bosch, we will discuss the role the economy and companies havein supporting the climate goals and give you examples on how digitalization can support this development. A particular emphasis is on the situation in Vietnam which represents one of the major economies in the ASEAN countries with huge potential for future growth. |
|
The International Trademark Association (INTA) is hosting its 2023 Annual Meeting Live+, which is the largest gathering of influential brand professionals from various industries worldwide. The event offers two educational tracks: "IP & Innovation" and "The Business of Brands."
EuroCham members, which include corporations and SMEs, are eligible for free passes to the event. The number of tickets is limited, so act now. To receive one, kindly send an email to nora.bihari@eurochamvn.org. Please note that law and IP firms are not eligible for this offer.
The Live+ event allows three participation options: Live+ registration, providing an enhanced in-person experience with virtual capabilities; in-person only registration; and virtual-only registration.
At the event, there will also be a representative from the South-East Asia IP SME Helpdesk, which is currently being implemented by EuroCham Vietnam. |
|
Join us for the Central and Eastern European Chamber of Commerce in Vietnam's (CEEC) Business Seminar on "Performance, Wellbeing, and Hybrid Work in Vietnam."
As the world shifts towards remote and hybrid work arrangements, it's more important than ever to prioritize employee wellbeing and flexibility to boost productivity and job satisfaction. This seminar will equip business leaders and professionals with practical insights on: - Implementing flexible work arrangements,
- Improving productivity and efficiency, and
- Navigating the latest wellbeing and working trends in Vietnam.
Don't miss out on this opportunity to stay ahead of the game! |
|
EuroCham Cambodia's Real Estate & Construction Forum is back on May 23! This flagship event is a one-of-a-kind opportunity for Cambodia's booming construction sector, expected to draw 200+ guests, and huge attention from government and business decision-makers.
This is not only a great opportunity for our members to gather insights and network, but it also provides a chance for members of EuroCham Vietnam's newly-formed Construction Sector Committee to explore opportunities in Vietnam's neighbor to the west.
Don't miss its "European development project - Deutsches Haus in Ho Chi Minh City" workshop featuring our Advisory Board Member Horst Geicke and Gold Premium Corporate Partner Deutsches Haus. Dive deep into this groundbreaking project, which has raised the bar in Vietnam by setting new benchmarks for energy efficiency and environmental sustainability in Vietnam's building industry.
See you in Phnom Penh! |
|
The leading ESG-lens investment conference, with participation from 50+ businesses over two days, will bring together key stakeholders to look at the opportunities in Vietnam for sustainable finance and ESG investing and explore high-yield returns on partnerships aimed to meet the needs and challenges of Vietnam’s dynamic society and environment.
To secure your tickets, kindly click the button provided below and use the code "EUROCHAM15" at checkout to avail an exciting 15% discount! |
|
AstraZeneca announces up to $50 million investment in forests and landscape restoration in Vietnam |
|
AstraZeneca has announced a new investment of up to $50 million (1.2 trillion VND) into Vietnam, as part of the Company’s global AZ Forest program, which by the end of 2022 had planted over 10.5 million trees worldwide.
Over the next five years, 22.5 million trees will be planted across at least 30,500 hectares to restore Vietnam’s forests and landscapes, allowing biodiversity to flourish, and providing sustainable livelihoods for over 17,000 smallholder farmers.
Reforestation will be designed to maximize co-benefits such as: - Broad-scale biodiversity gains
- Improved diets and nutrition for local communities
- Soil and water conservation
- Climate resilience, reducing the risks of natural disasters
- Carbon sequestration
The announcement ceremony in London was attended by Vietnam's Minister of Foreign Affairs Bui ThanhSon, Vietnam's Ambassador to the UK Nguyen Hoang Long, and global and regional AstraZeneca leaders. |
|
Nominations for the HR Asia Awards are now open. This program recognizes and celebrates the outstanding work that promotes diversity, equity, and inclusion in the excellent workplace. Creating a diverse and inclusive workplace is critical for attracting and retaining top talent, fostering innovation, and driving business success. If your organization leads this vital work, we encourage you to nominate for an HR Asia Award. Let's work together to build a more inclusive future for all.
|
|
EuroCham Chairman Gabor Fluit featured twice in the latest edition of the Vietnam Economic Times |
|
Open up the latest edition of the Vietnam Economic Times and dive into the insightful article "Eager to Play a Role" by Gabor Fluit, Chairman of EuroCham, where he shares his thoughts on sustainable and green development of foreign-invested enterprises.
But that's not all! In the same issue, Mr. Fluit is also featured in an article called "Shared Pursuit" discussing FDI sustainable development initiatives.
Don't miss out on these informative reads! |
|
|
|
Vietnamese language media coverage of our activities
May 10 - [VN Economy] Attracting FDI: Vietnam needs to change its mindset in the global "game" - "At the seminar titled 'Investment and International Trade in a Volatile World: What Should Businesses Do?' recently organized by the Vietnam International Arbitration Center (VIAC), Mr. Minh Nguyen Hai, Vice Chairman of EuroCham Vietnam, highlighted the findings of EuroCham's Business Climate Index survey. The survey revealed a significant decline in Vietnam's business environment index, plummeting from 73 points in the first quarter of this year to a mere 48 points by the fourth quarter of 2022."
|
|
Join our dynamic team and unlock your career potential - apply now for our exciting open position:
|
|
Join EuroCham today and be part of our milestone 25th anniversary! Link up with a thriving community of industry leaders, gain access to exclusive benefits, and elevate your brand presence in Vietnam. Our commitment to creating a welcoming and supportive environment ensures that you receive top-notch service every step of the way. Together, we can soar to even greater heights.
Don't miss out - join us today and let's make things happen! Contact our Membership Team if you have any questions: |
|
| FOLLOW US ON OUR CHANNELS |
|
|
|
|
