GEFE 2024 opens with a focus on Vietnam - EU sustainability efforts. Photo: EuroCham Vietnam

The landmark event, hosted by EuroCham Vietnam, takes place amid growing economic ties between Vietnam and the EU, bolstered by the EU-Vietnam Free Trade Agreement (EVFTA). This agreement has already made the EU one of Vietnam's top trade partners, fostering increased bilateral trade and green investment. With the EU-Vietnam Investment Protection Agreement (EVIPA) still under negotiation, there is tremendous potential to engage more European investment with a focus on sustainable development.

EU Commission vice president Margaritis Schinas said, "The EU sees Vietnam as a key trade partner and a vital player in the EU-ASEAN partnership, with green growth at the heart of our collaboration, and events like GEFE 2024 are crucial in transforming our shared goals into reality."

"This period of transition to a greener future is full of challenges, but now is the time to make the significant changes for future generations," Schinas added, before concluding with a Vietnamese proverb, 'cai kho lo cai khon', which roughly translates to 'adversity births creativity'.

Deputy Minister of Industry and Trade Phan Thi Thang spoke about how Vietnam’s total import-export turnover from the beginning of the year to September was almost $580 billion, an on-year increase of more than 16 per cent. The trade balance achieved a surplus of close $21 billion, with exports to the EU alone valued at over $38 billion, up 17 per cent.

"This reflects the increasing potential for effective and high-quality growth between Vietnam and the EU," she said.

The Deputy Minister also encouraged Vietnamese and EU businesses to continue cooperating in investment, trade, and technology transfer, with a focus on green growth and alignment with new global standards.

Bruno Jaspaert, chairman of EuroCham Vietnam, said, "This event reflects the joint ambition of Vietnam and the EU to advance sustainable development. The participation of high-level officials, industry experts, and business leaders demonstrates that we are all committed to turning words into action, ensuring that together we build greener futures."

The event will see more than 200 exhibitors, including 13 country pavilions, and offers attendees free access to explore cutting-edge green technologies, and discover innovative solutions in renewable energy, sustainable construction, green finance, and carbon trading.

GEFE 2024 is at Thiskyhall Sala Convention Centre, 10 Mai Chi Tho street, Thu Duc, Ho Chi Minh City until October 23.