How can Hanoi improve its business environment?
EuroCham recently worked closely with the Hanoi People’s Committee and had the opportunity to discuss how Hanoi is seeing its future and what European business can offer in the future of the city moving forward.
On 25 May 2018, we met with Mr. Nguyen Duc Chung, Chairman of the Hanoi People’s Committee and discussed how Industry 4.0, Smart Cities and High-Technology Agriculture could be areas that Hanoi could develop further and therefore attract more added-value investment to the city. We are happy that the highest importance is given to European businesses in the future of Hanoi and our members continue to count on Vietnam’s authorities to make the necessary regulatory changes that can facilitate investment in key areas to develop Hanoi moving forward.
Speeding up development and improving the city’s livability is key and European business stands by to partner with local businesses and the Government in many areas for which investment is being called for, including industrial projects, real estate, services and infrastructure.
How can Hanoi attract more investment to the city?
The challenges to investment attraction are of a national scale, not only Hanoi’s. As a dialogue partner to the Government, EuroCham is in regular contact and frequently expresses what - in the view of our members - Vietnam could do to enhance investment promotion and attraction.
While in general it has mostly to do with creating confidence in prospective investors, we recommend a reading of our Whitebook 2018 for a closer look at issues which might behind overall challenges to investment attraction.
We believe, however, that Hanoi has much potential and many comparative advantages. The message we give to provinces is similar: Hanoi should focus on what its advantages are and specialize in the kind of investment it wants to attract without unnecessary competition with neighboring provinces. For partners that bring innovation, sustainability, inclusion, reliability, and knowledge and technology transfer, European companies stand by for the call.
Thank you very much!