European businesses called to invest in Khanh Hoa province

Monday, 2016-03-14 15:09:34
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European countries are running 19 projects worth nearly US$24 million in Khanh Hoa province.
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NDO/VNA – Nearly 40 businesses from the central coastal province of Khanh Hoa and Europe gathered at a workshop in Nha Trang on March 14 to seek bilateral economic co-operation opportunities.

Acting Director of the provincial Department of External Relations Nguyen Hoang Long said the event enables local businesses to welcome a wave of investment from European partners since the EU-Vietnam Free Trade Agreement (EVFTA) was signed in 2015.

He said the Ministry of Foreign Affairs is willing to act as a bridge between the two business communities.

According to the provincial Department of Planning and Investment, local businesses exported over US$370 million worth of goods to the European market in 2015.

European countries are running 19 projects worth nearly US$24 million in the province, making up around 2.4% of the total foreign direct investment (FDI).

Lying at the heart of the south-central coastal region, Khanh Hoa boasts great potential in the marine economy, especially sea and island tourism and transport services.

Nha Trang, Van Phong and Cam Ranh Bays are regarded as three key economic regions in the province, which are appealing for foreign investment in various fields such as tourism, services, and industry.

Authorities have been applying preferential policies for overseas investors.

Representatives from the European Chamber of Commerce (EuroCham) in Vietnam spoke at length about the EVFTA, as well as a project to support European small and medium-sized enterprises (SMEs) in intellectual property in Southeast Asia.