EU to leverage links through SME assistance centre

October 28, 2013 | 14:09

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The European Union will open an assistance centre for small and medium-sized firms in Vietnam from this November in order to further promote trade and investment.

Ambassador Franz Jessen (left) and CCIFV chairman Pierre-Jean Malgouyres (right) sign a contract on establishing a SME assistance centre in Vietnam on October 22 in Ho Chi Minh City

The 4 million-euro project is a consortium between the EU Delegation to Vietnam and the French Chamber of Commerce and Industry in Vietnam (CCIFV).

Ambassador Franz Jessen, head of the EU Delegation to Vietnam, said the project would support both European and Vietnamese companies. The centre will be located in the southern economic hub, but would also operate in Hanoi. Vice president of the European Commission Antonio Tajani will inaugurate the centre on November 11. Jessen added that an EU business mission would follow to boost trade and investment, with a primary focus on tourism, agriculture, chemicals and pharmaceuticals.

“The consortium has an agreed five-year timeframe, but we hope the consortium will continue to operate beyond this period. Match-making experts will work for the centre bearing this goal in mind,” he said.

According to Jessen, European SMEs are strongly expanding to other regions in the world to tap more markets, with Asia being a focus. Many European SMEs are interested in Vietnam, and this had triggered the call for the centre. It would help European and Vietnamese SMEs deal with issues like accessing markets, legal problems, finding partners and suppliers.

Jessen said European companies were keen to see an effective Free Trade Agreement between the EU and Vietnam because such an agreement would affect their investment decisions in the future.

By By Tuong Thuy

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