Effective anti-Covid-19 measures build up foreign business confidence in Vietnam

Representatives of foreign businesses in Vietnam shared the same sentiment that Vietnam’s effective measures against the Covid-19 pandemic have enhanced the country’s status as a competitive, safe and attractive investment destination.

Nicolas Audier, chairman of EuroCham in Vietnam. Source: VGP.

Vietnam is currently a front-runner in the Covid-19 fight, said Nicolas Audier, chairman of the European Chamber of Commerce in Vietnam (EuroCham) at a national online dialogue between Prime Minister Nguyen Xuan Phuc and the business community on May 9.

According to Audier, drastic public health measures and effective relief packages for the economy have turned Vietnam into an example for other countries to follow in combating the pandemic.

EuroCham lauded Vietnam’s efforts to protect the business community, including European firms, stressed Audier.

Such measures have helped Vietnam maintain a fast economic growth pace compared to regional peers in the first quarter of 2020 while building up European enterprises' confidence in Vietnam’s business environment, he added.

Audier noted Vietnam is well-positioned to grasp new business opportunities and boost economic growth, thanks to the approach of simultaneously stimulating economic growth and containing the pandemic.

Audier expected the upcoming EU – Vietnam Free Trade Agreement (EVFTA) to open up new opportunities for Vietnam to deepen engagement with the European market. More importantly, the deal would move the country up the ladder in global value chain and attract new investment capital, he said.

Vice President of the Korean Chamber of Commerce and Industry (Kocham) Hong Sun. Source: VGP.

For his part, Vice President of the Korean Chamber of Commerce and Industry (Kocham) in Vietnam Hong Sun said that South Korean enterprises held high regards for Vietnam’s efforts in improving the business environment.

Hong Sun said the Kocham is committed to encouraging high quality FDI inflows from South Korea to Vietnam.

“South Korean and Vietnamese firms would foster a stronger bond in establishing new supply chains amid the Covid-19 pandemic,” stated Hong Sun, adding South Korean firms would accompany Vietnam during its economic recovery process.

Resuming normal economic activities with low-risk countries

Kocham’s Hong Sun suggested Vietnam resume flights with countries having contained the pandemic, including South Korea, so that foreign investors, experts and workers could soon return to Vietnam.

South Korea is willing to cooperate with Vietnamese counterparts with regard to safety measures, stressed Hong Sun.

Sharing the same view, Funayama Tetsu, representative of the Japanese Business Association in Vietnam, suggested Vietnam to simplify the immigration process and issue working permits for special cases.

“High quality foreign experts could speed up the recovery process of enterprises,” Tetsu added.

Deputy Regional Managing Director and Representative of the US – ASEAN Business Council in Vietnam Vu Tu Thanh said Vietnam’s achievements in the fight against the pandemic drew an important lesson of transparency and publicity.

With transparent information and clear instructions, the public is willing to comply with the government’s anti-Covid-19 measures despite huge costs. They are aware of a common goal that would ultimately benefit everyone, Thanh stated.

Thanh said US firms are impressed with the determination and visions of the Vietnamese government. Compared to other countries in the Southeast Asian region, Vietnam is at the top from the perspective of commitments of leaders at the highest level.