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ECONOMYINDUSTRY

Netherlands 'envious' of Vietnam’s economic growth: PM Rutte

Updated at Wednesday, 10 Apr 2019, 12:57
The Hanoitimes - The Netherlands is Vietnam’s current largest European investor with registered capital of US$9.5 billion.
The Netherlands is envious of Vietnam’s economic growth and has no complaint about the business environment in Vietnam, according to Dutch Prime Minister Mark Rutte, who is on a three-day visit to the Southeast Asian country. 
 
Deputy Prime Minister Vuong Dinh Hue and Prime Minister of Netherlands Mark Rutte. Source: VGP.
Deputy Prime Minister Vuong Dinh Hue (R) and Prime Minister of Netherlands Mark Rutte (L). Source: VGP.
Both countries must continue cooperation to remove as many barriers as possible for greater cooperation between enterprises from Vietnam and the Netherlands, Rutte made the comment in a meeting with Vietnam’s Deputy Prime Minister Vuong Dinh Hue on April 9. 

Rutte highly regarded the Vietnamese government’s efforts in improving the business environment, competitiveness and innovative indicators, and expressed his firm belief that the Vietnam – Netherlands relations in trade and investment would grow strongly in the future. 

According to Rutte, Vietnam and the Netherlands have similarities in maritime development potential and also challenges from climate change. 

Rutte informed that 70 Dutch firms accompanying him to Vietnam specialize in agriculture, water industry and wind energy, among others, and are willing to cooperate with local enterprises. 

At the meeting, Deputy PM Hue said the Netherlands is Vietnam’s current largest investor from Europe with registered capital of US$9.5 billion, including global corporations such as Heineken, Unilever, and Shell. 

In 2018, bilateral trade topped US$7.84 billion, accounting for 1.6% of Vietnam’s total trade revenue and 14.6% of the country’s with the EU. 

Additionally, there were 77,300 Dutch tourists coming to Vietnam in 2018, making the Netherland  the fourth largest European tourist source of Vietnam. 

Hue considered the visit of Rutte and Netherlands’ leading corporations a valuable opportunity to promote investments and business opportunities between the two countries. 

In the next five years, Vietnam sets targets of rapid and sustainable economic growth, for which the country would focus on five major drivers, Hue added. 

Firstly, Vietnam will continue the administrative and legal system reforms, especially in fields of business and investment, aiming to better the business environment and creating favorable platform for the development of the private sector. 

Secondly, Vietnam strives to enhance its national competitiveness towards the OECD’s standards. 

Thirdly, Vietnam would focus on restructuring  the economy in a substantial manner, which is closely related with the revision of the growth model, enhancing productivity and growth quality. 

Fourthly, pushing for global integration, and fifthly, to improving the infrastructure and the qualification of human resources. 

Hue expected the EU – Vietnam Free Trade Agreement (EVFTA) once ratified would create opportunities for Dutch firms doing business in Vietnam, thus he requested the support from the Netherlands to facilitate the EU’s approval process of the deal. 

Vietnam encouraged more investments from Dutch enterprises in electronics, IT, sustainable agriculture, seaport development, education, green growth, among others, Hue said, adding the success of Dutch firms in Vietnam would mean the success of Vietnam. 
Ngoc Thuy
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