Eurocham

European businesses still hold high hopes for Vietnam’s prospects. The current Covid-19 outbreak and restriction measures have forced 18% of orders from European firms in Vietnam to move to others countries, 16% are considering doing so, but no one is looking to leave the country. Chairman of the European Chamber of Commerce in Vietnam (EuroCham) Alain Cany gave the remarks at a press conference held today [September 9], shortly after the conclusion of the meeting between the European business community in Vietnam with Prime Minister Pham Minh Chinh. Overview from the press conference. Photo: Nguyen Tung “There is no disguising the fact that this fourth wave outbreak is having a dire impact on business. The EuroCham Business Climate Index is now recording the lowest sentiment in more than a decade. If lockdowns, social distancing, and travel restrictions continue for much longer, new investment projects could be put at risk and companies could consider …

[Read more...] about European businesses have no intention to leave Vietnam: EuroCham

"If these conditions persist for too much longer, new investment projects could be put at risk and companies could consider relocating elsewhere in the region," the business group’s chairman, Alain Cany, told the media Thursday after a meeting he and other European business executives in Vietnam held with Prime Minister Pham Minh Chinh and other top government officials. He was referring to the lockdowns, travel restrictions, and social distancing that Vietnam has imposed in major cities to curb the spread of the Delta variant. "The impact of this fourth wave on our members has been dire." Almost a fifth of European companies in Vietnam have temporarily shifted some production overseas, with another 16 percent considering similar action, he said. The EuroCham Business Climate Index is now at its lowest in more than a decade. It has dropped to 15.2 points out of 100, continuing a declining trend since the second quarter when the fourth Covid wave began. Cany said the …

[Read more...] about Covid restrictions could cause businesses to quit Vietnam: EuroCham

The European Chamber of Commerce in Vietnam (EuroCham) has worked with ambassadors from the European Union on providing additional Covid-19 vaccine supplies for Vietnam. An overview of the press conference. Photo by Hanoitimes The information was shared by EuroCham Chairman Alain Cany at a press conference held on September 9 shortly after the meeting between the European business community in Vietnam with Prime Minister Pham Minh Chinh. "The EU has so far donated 10 million doses of Covid-19 vaccine for Vietnam through the COVAX dose-sharing mechanism," Cany said. "Germany announced it would donate five million doses to Vietnam," he added. "France would donate 700,000 doses and some other countries are going to send some 3-4 million more doses to support Vietnam." At the meeting with EU ambassadors, EuroCham had put Vietnam on the priority list of developing nations to receive vaccine donations. Speaking at the press conference, French Ambassador …

[Read more...] about EuroCham helps bring more Covid-19 vaccines to Vietnam

Prime Minister Pham Minh Chinh speaks to European diplomats and businesses during an online meeting in Ha Noi. — VGP Photo European firms still showed strong confidence in Viet Nam's ability to control the pandemic and for the Southeast Asian economy to pull off a strong recovery in a near future, heard an online conference organised by the European Chamber of Commerce (EuroCham) in Viet Nam yesterday. The firms, however, stressed the importance of mass vaccination drives, uninterrupted flow of goods and services as well as shorter time to process foreign workers' entry to Viet Nam, said Alain Cany, Chairman of EuroCham. “There is no disguising the fact that this fourth wave outbreak is having a dire impact on business. The EuroCham Business Climate Index is now recording the lowest sentiment in more than a decade," he said. Measures must be taken to allow workers to go back to work as soon as possible "If lockdowns, social distancing, and travel restrictions continue for …

[Read more...] about Euro firms confident in country’s pandemic control

Looking ahead in the next quarter, 71 percent of European business leaders anticipate challenges, according to a survey of 193 respondents by the European Chamber of Commerce in Vietnam (EuroCham). The Business Climate Index, which measures business leaders’ sentiment quarterly, fell to the lowest in over a decade of tracking at 15.2 over 100 points. Seventy percent of business leaders cited the main challenge they were facing as transport and logistics difficulties caused by social distancing. Over half, 51 percent, said market conditions in Vietnam was another roadblock. Other reasons included limited mobility of sales forces and inconsistent policies between provinces. Due to extended lockdown restrictions that gravely affect the manufacturing sector, 18 percent have already shifted some production to other countries and 16 percent are considering their options. European businesses also said the stay-at-work model does not prove to be effective long-term as …

[Read more...] about European businesses see negative outlook as restrictions hurt

Prime Minister Pham Minh Chinh at the meeting with EU businesses on September 9 The 4-hour dialogue – held in Hanoi and online – featured contributions from European business leaders, EU ambassadors, and government representatives. Participants discussed the difficulties of the current fourth wave of the outbreak and shared solutions to support both commercial operations and communities to rebound and recover from the pandemic. EuroCham chairman Alain Cany and other European business leaders emphasised the need to accelerate Vietnam’s vaccine roll out; ensure the free-flow of goods; ease the movement of workers; speed up the process for vaccinated business leaders, investors, and experts to return to Vietnam; ensure that factories and companies can resume their operations as soon as possible; and the need to live with the virus in order to maintain economic growth and protect livelihoods. “There is no disguising the fact that this fourth wave is having a dire impact on …

[Read more...] about EU businesses seek to solve COVID-19 challenges

The success of foreign investors is the success of Vietnam, Prime Minister Pham Minh Chinh has said. The Vietnamese Government is committed to listening to recommendations from businesses and addressing their concerns whenever possible. Prime Minister Pham Minh Chinh at the meeting. Photos: Nhat Bac Prime Minister Pham Minh Chinh stressed the view in a meeting with European ambassadors and companies to discuss the current difficult situation due to the pandemic on September 9, which followed a series of meetings between the Government leader and foreign businesses. Prime Minister Chinh highly regarded the substantial contribution of the EU delegation, embassies, and business community in Vietnam, to the Vietnam-EU relations, especially in economy, trade, and investment. Chinh also thanked EU member countries for pledging to donate over 10 million doses of vaccines and medical equipment for Vietnam. “Vietnam is willing to create favorable conditions for …

[Read more...] about Vietnam Gov’t committed to addressing concerns of businesses: PM

EuroCham last week donated to Vietnam to buy medical equipment to fight against the pandemic The European Chamber of Commerce (EuroCham) on September 9 said that some problems are expected to be solved in order to send a positive message for both businesses and investors. The EuroCham briefing was carried out after a high-level meeting was concluded between Prime Minister Pham Minh Chinh, government ministers, the European diplomatic corps, and EU businesses to discuss the ongoing challenges of COVID-19 in Vietnam. The biggest issues during the four-hour agenda included acceleration of Vietnam’s vaccine rollout, the free flow of goods and movement of workers, processes for vaccinated business leaders, investors, and experts to return to Vietnam, resumption of operations for factories and other companies, and the need to live with the coronavirus in order to maintain economic growth and protect livelihoods. Hai Minh Nguyen, vice chairman of EuroCham, said that some of the …

[Read more...] about Leaders committed to solving Euro quandary

Vaccination is key for Vietnam’s safe economic reopening and recovery, according to foreign businesses. Vietnam needs to devise a roadmap for reopening right now to maintain its regional and global competitiveness while not being left behind in the economic recovery, according to the latest petition of foreign-invested businesses to the Vietnamese Prime Minister. KoCham's members are optimistic about the future of Vietnam. Photo: KoCham Foreign business associations in Vietnam proposed a strategy of “pandemic prevention and control by region” to the Prime Minister in order to restore safe production and business activities in the new anti-pandemic situation on September 17. The associations included the American Chamber of Commerce (AmCham Vietnam), the European Chamber of Commerce (EuroCham), the Korea Chamber of Commerce in Vietnam (KoCham) and the US-ASEAN Business Council (US-ABC). These associations affirmed their commitment to support the …

[Read more...] about Foreign enterprises urge Vietnam to reopen

He made the statement during a working session in Hanoi on September 9 with the head of the European Union (E.U.) Delegation to Vietnam, the ambassadors of European nations to Vietnam, and representatives of the European Chamber of Commerce in Vietnam (EuroCham) and firms in the country. The PM appreciated his guests' practical and effective contributions to the Vietnam-E.U. relations development, and thanked the E.U. and its member countries for their commitment to present over 10 million doses of vaccine and medical supplies to Vietnam. He extended his sympathies to firms in Vietnam over the difficulties caused by the complexities of COVID-19, saying that the success and loss of foreign investors are also the success and loss of Vietnam itself. The Vietnamese Government has rolled out various measures to contain the spread of the pandemic and build an economic recovery plan in tandem with safely adapting to the situation in short- and long-terms, he stated. Speaking highly of …

[Read more...] about Success of FDI firms vital for Vietnam: PM