EVFTA promotes FDI flow from Europe to Vietnam
(QNO) - Foreign direct investment (FDI) from the European Union (EU) to Vietnam in the medium and long term is forecast to increase significantly with high-quality projects.
Accordingly, after one year of implemeting the EU-Vietnam Free Trade Agreement (EVFTA), the trade and investment exchanges between Vietnam and the EU have achieved positive results despite of the complicated Covid-19 epidemic.
The total import and export turnover between Vietnam and the EU reached 54.6 billion USD, up 11.9% over the same period. The export turnover from Vietnam to the EU reached 38.5 billion USD, up 11.3 %. The Vietnam’s import turnover from the EU reached 16.2 billion USD, up 12.4%.
Until September 2021, Vietnam attracted 2,242 projects from 26/27 EU countries with a registered investment capital of 22.24 billion USD (an increase of 164 projects and 483 million USD over the same period last year), accounting for 6.57% of the projects and 5,58% of the total registered investment capital from countries and territories in Vietnam.
Shell Group (Netherlands), Total Elf Fina (France - Belgium), Daimler Chrysler (Germany), Siemens, Alcatel Comvik (Sweden)....are among EU’s large corporations operating effectively in Vietnam.
The EU’s investment in Vietnam mainly focused on hi-tech industries.
Recently, EU’s businesses have tended to invest in service industries (posts and telecommunications, finance, offices for rent, retailing), clean energy, auxiliary industries, food processing, high-tech agriculture, medicine.
At the same time, several Vietnam’s businesses have taken advantage of the EVFTA to export their products to the EU.