Many European businesses said Vietnam would be a feasible investment destination after the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Promotion Agreement (EVIPA) come into force, Helena Konig, EU chief negotiator and Deputy Director General for European Trade, said on June 28.

Illustrative image (Photo: VNA)

Konig told Vietnam News Agency (VNA) correspondents in Brussels ahead of her trip to Vietnam for the signing of the deals, slated for June 30, that the agreements will build Vietnam into a connectivity centre of the Association of Southeast Asian Nations (ASEAN). 

European firms have also seen the country as an important berth in the region with opportunities for pouring more investments into Vietnam and accessing the ASEAN market via the country, she added. 

They showed their support for negotiations of the EVFTA and the EVIPA as they recognise various opportunities generated by the agreements, which include many articles that help to simplify procedures for businesses in Vietnam and the EU, according Konig. 

She said after the signing, the deals will be submitted to the European Parliament (EP) for approval, and the EVFTA will be the first big FTA that needs the consent of the parliament. 

Konig suggested Vietnam and the EU work together to interpret social and economic benefits brought about by the agreements to both sides, while popularsing them among the public. 

Reviewing the negotiation process, the EU official said she was impressed by the Vietnamese negotiating delegation’s capacity. 

Vietnam is well aware that the agreements will support its development in the future, she said, adding that apart from tax issues, the two sides spent time talking about Government procurement and services. 

Despite differences, the two sides still reached consensus on the path ahead, she noted.