Hoang Tri Mai, the general director of Airbus Vietnam, shared these insights during the 2023 Vietnam-EU Trade Forum in Ho Chi Minh City on November 27.
“While identifying suppliers that meet Airbus’s rigorous standards poses challenges, our commitment to expanding the supply chain in Vietnam remains steadfast,” Mai stated.
She also emphasized the importance of suppliers embracing sustainable practices and reducing carbon emissions.
“The aviation industry’s shift towards green energy aligns well with Vietnam’s abundant biomass resources, offering significant opportunities in this transition,” she added.
The EU ranks as the sixth-largest foreign investor in Vietnam, with 2,540 projects and an accumulated registered capital of approximately $1.23 billion as of October 2023, accounting for 6.4 percent of Vietnam’s total registered foreign direct investment (FDI).
Ta Hoang Linh, the head of the EU and Americas Market Department at the Ministry of Industry and Trade, highlighted the crucial role of the EU-Vietnam Free Trade Agreement and the forthcoming EU-Vietnam Investment Protection Agreement.
“These agreements are integral to Vietnam’s efforts to attract investment and technology transfer from the EU. They pave the way for our economy to shift towards a greener and more sustainable direction,” Linh said.
Gabor Fluit, Chairman of EuroCham, reported on the EU’s increasing investment in Vietnam.
“In 2022, we witnessed remarkable growth in EU investment, with 146 new projects worth $15 billion, up from $13 billion in the previous year,” he stated.
A recent EuroCham survey revealed that over half of its member companies plan to increase their investments in Vietnam by the end of 2023.
“This growth, particularly in high-tech manufacturing, underscores Vietnam’s effectiveness in attracting sustainable FDI and positions it as a strategic hub for global businesses,” Fluit commented.