Forum steps up economic cooperation between Vietnam and Belgium

In his opening speech, Andries Gryffoy, first vice president of the Belgian Senate and president of the Belgian-Vietnamese Alliance (BVA), affirmed that Vietnam is currently emerging as one of the most dynamic and attractive destinations for foreign investors, and will play a crucial role in promoting future economic growth.

The BVA president pointed out that the country has received great attraction from the international community thanks to its economic stability, strategic location, strong integration into global trade, and political stability, along with a young and increasingly educated population.

Furthermore, the unique and attractive Vietnamese cultural identity is also one of the advantages that is luring Belgian investors, he stressed.

This attraction has been demonstrated through extensive cooperation activities between the two countries, with a total of 95 Belgian-invested projects in Vietnam capitalised at roughly US$1.1 billion.

He emphasised that Belgium's strategic position with a large seaport system and developed transport infrastructure has become an important gateway for Vietnamese goods to make further inroads into the European market.

Meanwhile, François Coloval, director of South Export Alliance, highlighted Vietnam’s remarkable progress recorded in the manufacturing sector, especially in terms of professionalism and product quality.

Moreover, the EU-Vietnam Free Trade Agreement (EVFTA) has helped the country to gain greater competitiveness compared to neighbouring countries and to facilitate additional investment into the country, he noted.

However, he also pointed out several challenges faced by Vietnamese firms when exporting goods to the European market, including stringent rules relating to packaging and labeling of each country within the EU bloc.

For his part, Vietnamese Ambassador to Belgium Nguyen Van Thao, head of the Vietnamese delegation to the EU, stated that there remains ample room for further collaboration between the two sides, especially in areas such as logistics, seaports, and renewable energy.

At the event, Dao Hong Hai, CEO of Hanoi Station restaurant chain in Brussels, introduced the establishment of the Vietnam Business Association in Belgium to promote cooperation and boost import and export activities between the two countries.