At current, the visa exemption record contains solely seven EU member international locations, particularly Germany, France, Italy, Spain, Denmark, Sweden, and Finland.
EuroCham counseled the current efforts undertaken by the Vietnamese Authorities to streamline its visa system, together with the extension of e-visa validity to a 90-day interval, enabling a number of entries and exits ranging from August 15.
It additionally hailed the extension of the momentary keep interval for residents from international locations exempt from visas by Viet Nam to 45 days.
EuroCham Viet Nam Chairman Gabor Fluit stated, this enlargement will usher in a lot of vacationers from the EU market, which has a inhabitants of over 500 million.
By eradicating boundaries for high-income worldwide vacationers to go to Viet Nam, EuroCham and Viet Nam will undoubtedly unlock superb alternatives for the nation’s economic system after a tough few years, he added.
The newest report from Google Vacation spot Insights, a tourism information evaluation instrument, indicated that VietNam holds nice potential as a sought-after vacationer vacation spot and ranks among the many high seven most searched journey locations.
Viet Nam’s attractiveness as an funding vacation spot for overseas direct funding (FDI) is kind of evident.
The Enterprise Local weather Index (BCI) for the second quarter of 2023, printed by EuroCham and performed by Resolution Lab, revealed that regardless of present challenges, 48 p.c of respondents categorical optimism in regards to the improve in FDI capital for his or her firms in Viet Nam within the coming quarter.
Viet Nam additionally maintains its place as one of many high 5 funding locations for over one third of companies, additional affirming its sustainable attractiveness and fame.
The continual discount of import tariffs facilitated by the EU-Viet Nam Free Commerce Settlement (EVFTA), mixed with efforts to handle obstacles in administrative procedures as highlighted by BCI survey contributors, will additional enhance Viet Nam’s funding prospects over time.