Netherlands-Vietnam Chamber of Commerce (NVCC)

World Bank forecasts Vietnam’s economy to grow by 6.6 pct in 2019


The World Bank predicts Vietnam’s economic growth rate would reach 6.6 percent in 2019 in its Managing Headwinds report released on April 24.

For the medium term, the growth is projected to stay around 6.5 percent, due to the impact of current cyclical uptick dissipates, the report said, adding that poverty may decline further as labour market conditions remain favourable.The growth rate will be driven by credit tightening, slower private consumption and weaker external demand.

In its report, the World Bank advised Vietnam to stay ready to respond to changes in the global economy and to continue managing its macro-economy actively and carefully.

It forecasts growth in other developing countries in East Asia and the Pacific to soften to 6.0 percent in 2019 and 2020, down from 6.3 percent in 2018.


Friday 24 May, NVCC Visit to Royal IHC Shipyards in Krimpen a/d IJssel and Kinderdijk

The board of the NVCC and Royal IHC cordially invite you and/or colleagues, for an exciting visit on Friday 24th May to the shipyards and offices of Royal IHC in Krimpen aan den IJssel and Kinderdijk.

Few manufacturers of and service providers for vessels and equipment for specialist maritime service providers in the dredging, mining and offshore industries have the worldwide reputation and success of Royal IHC. This multinational company, with 3000 staff members and 39 locations around the world, has its head office in Kinderdijk, the Netherlands.

Royal IHC is offering a fantastic programme!



09.45 – 10.00                    Arrival at Royal IHC location Krimpen aan den IJssel – general parking place.

Coffee served in the Maas/IJssel meeting room with excellent view of ship under construction. Safety instructions!

10:15 hrs                            Start tour – Krimpen Shipyard

11.45 hrs                            Transfer by water taxi to Royal IHC location Kinderdijk

12.15 hrs                            Arrival in Kinderdijk, walk to yard.

12:30 hrs                           Word of welcome and thanks by NVCC Chairman Joost Vrancken Peeters (tbc)

Presentation by Dingeman van Woerden, Area Sales Manager, Royal IHC

Lunch Buffet

13.15 hrs                            Tour of the Shipyard and facility

Group Photo (tbc)

14:30 hrs                            Walk to the watertaxi

14:45 hrs                            Transfer by water taxi back to Krimpen aan den IJssel

15:15 hrs                            End of Programme



Important information:


  • Participation is free of charge to members and special guests of the NVCC.


  • Registrations are handled on a first-come-first-served basis. The maximum number of participants is 30. Please register before Friday 17 May.


  • Participants are urged to arrive on time (the traffic in the Rotterdam area can be congested).


  • Taking photographs is only allowed in designated areas. Please comply with all instructions given by royal IHC staff.


A route description and additional information will be sent to you after you have registered.



Pre-meet Handelsmissie Rutte en Borrel vanwege Tết, 21 februari

Past Event

Vol Huis bij Pre-meet Handelsmissie MP Rutte naar Vietnam


 Aansluitend Borrel vanwege Têt
21 februari Den Haag 

Ruim 70 personen namen deel aan de  “Pre-Meet” voor de handelsmissie met minister-president Rutte, Hans de Boer, minister Van Nieuwenhuizen en directeur-generaal Agro Sonnema naar Vietnam (7-12 april) en de aansluitende receptie ter gelegenheid van de start van het Vietnamees Nieuwjaar (Têt Nguyên Đán). De bijeenkomst werd georganiseerd door NLinBusiness, de Rijksdienst voor Ondernemend Nederland (, het Ministerie van Buitenlandse Zaken en de Netherlands Vietnam Chamber of Commerce (NVCC).

Vanuit Vietnam was Pauline Eizema, hoofd van de economische afdeling van de Nederlandse ambassade te Hanoi, aanwezig om te spreken over de kansen in Vietnam.

Wanneer:          Donderdag 21 februari, 15.30-18.00

Waar:                  New Babylon Meeting Center, Anna van Buerenplein 29, Den Haag


15.00-15.30 Inloop en registratie

15.30-15.40 Opening door Edo Offerhaus, Directeur NLinBusiness

15.40 -16.10: “Zaken doen in Vietnam” en “Programma handelsmissie” door Pauline Eizema, Hoofd van de economische afdeling van de Nederlandse ambassade in Vietnam en Karin Schipper, missiecoördinator RVO

16.10 – 16.25: “Het opzetten van een fabriek en duurzaam ondernemen in Vietnam” door Jeannine Butzelaar, CEO Clean Dye

16.25 – 16.40: “Zakencultuur Vietnam”, Erik Mattijssen, Directeur van Peja (S.E.A.) B.V. en vice-voorzitter van de NVCC

16.40 – 16.55  “Investeren in Vietnam, waar moet je aan denken?” Hanh Do, Directeur Vietnam Consult & Trading BV

17.00 – 18.30  Têt Borrel

Links naar de presentaties (voor zover beschikbaar) vindt u hieronder:

Cultuur van zaken doen in Vietnam E Mattijssen 201902

Vietnam Investments 201902 Hanh Do


Een link naar het fotoalbum vindt u hier.




Successfull Meeting with the Ambassador

8 November 2018, The Hague

The board of the Netherlands Vietnam Chamber of Commerce had the pleasure of receiving NVCC members and special guests at a special luncheon meeting with and hosted by H.E. Mme Ngo Thi Hoa, Ambassador Extraordinary and Plenipotentiary to the Netherlands on 8 November at the Embassy in The Hague.

During the luncheon, Mme Ngo answered questions from her guests on the developments in the Socialist Republic of Vietnam and the Vietnamese – Dutch relations.

Mr. Nguyen Hai Tinh, Commercial Counsellor of the Embassy, gave a briefing on the effects of the European- Vietnamese Free Trade Agreement.

All guests were treated to a great lunch with Vietnamese specialities.

A link to the Photo album can be found here.

Boost your trade with Vietnam

By: Mr. Joost Vrancken Peeters, Partner, Attorney, Kneppelhout Korthals Lawyers

What tariff benefits does your company enjoy from the EU-Vietnam FTA?

“We now look forward to the early signature of the agreements and to the possible ratification of the trade agreement.”

– Commissioner for Trade Cecilia Malmström and Vietnam’s Minister for Industry and Trade, Tran Tuan Anh

On 19 October 2018, the EU and Vietnam reconfirmed commitment to trade and investment agreements. After the conclusion of the legal work this summer, they are looking forward to the early signature of the agreements and to the possible ratification of the trade agreement.


Main TARIFF benefits

In general, almost all custom duties of both sides will be cut over a transitional period. As soon as the EU-Vietnam Free Trade Agreement (EVFTA) enters into force, 65% of EU exports to Vietnam will become duty-free while the remaining trade (with a few products excepted) will be progressively liberalised in 10 years. Meanwhile, EU will liberalise 71% of Vietnamese exports from day one and 99% will become duty-free after 7 years.

Figure 1. Tariff benefits for key EU exports products

For some specific sectors, eliminating customs duties does not result in automatic access to the market of the trade partner if the EU goods do not comply with relevant Vietnam’s rules. These non-tariff barriers will also be reduced as one of the main benefits of the agreement, which will not be addressed in this article.

The EVFTA will make a significant contribution to promoting the relationship between the EU and Vietnam in terms of bilateral trade. From the perspective of Vietnam, the current benefit of preferential access enjoyed through the Generalised Scheme of Preferences (GSP) is limited, since Vietnam had access only for products unilaterally defined by the EU and the EU may change the conditions at any time. As for the EU, although having granted the GSP to developing countries, it has no preferential access to Vietnam. Therefore, the implementation will provide both economics with mutual benefits.


EU exports

In contrast with the GSP which was granted by the EU to developing countries, the EVFTA will provide the EU with preferential access to Vietnam.

However, EU exports cannot practically benefit from the agreement to a full extent immediately after its entry into force. Unlike textile fabric, which will be fully liberalised at the entry into force of the agreement, most EU export products which are being allowed to enter Vietnam duty free will have a transition period of 3 to 10 years. The tariff schedule of Vietnam can be found here. Such long transition periods were set forth so that Vietnam, as a developing country, is allowed to adequately adapt to the increased competitive pressures from the EU.


Vietnamese exports

Under the GSP, only less than half of Vietnamese exports to the EU currently enjoy a zero-percent tax rate but this will increase after the implementation of the EVFTA. Pursuant to the standard GSP agreement, Vietnam will lose its status as a GSP beneficiary country since the EVFTA provides better tariff preferences.[1] In this case, Vietnamese operators then have two years, from the date of application of the EVFTA, to adapt to the change of their status.[2]

Thanks to the EVFTA, Vietnam will be allowed to maintain its free access to the EU market in the future, even if its economic situation no longer justifies the preferential treatment reserved under the GSP. Furthermore, Vietnam can benefit from both of these two deals during the post-GSP-two-year period. In particular, companies may choose the lower preferential rate between those provided under GSP and EVFTA (an example is shown below).

Figure 2. Yearly tax rate of two Vietnamese exports to the EU pursuant to the GSP and EVFTA[3]

However, this two-year adaptation period is still limited compared with the longer liberalisation phase provided by the EVFTA. According to this new deal, a maximum period of 7 years applies to some products which are sensitive for EU producers, particularly in the sectors of textile apparel and footwear. There is an uncertainty whether a better preferential rate may be enjoyed after the two-year adaptation of GSP. The tariff schedule of the EU can be found here. It is said the EVFTA would be one of the most ambitious trade agreement which aims to set a model  of promoting trades between EU and developing countries. Before the agreements enter into enforce, there is still time to make adjustments on your trading strategy to benefit from these deals to a largest extent.

For more information contact Joost Vrancken Peeters +31620210657 or, Anting Zhang +31634011860 or

[1] Article 4(1)(b), Regulation (EU) No. 978/2012.
[2] Paragraph 2, recital 9, Regulation (EU) No. 978/2012.
[3] The data on the base rate and GSP rate can be accessed through; the information on the EVFTA staging is provided in the ANNEX 2-A of the agreement.

Can your company benefit from the FTA’s with Vietnam that are expected in 2019?

Source: PWC

In this news alert we will elaborate on recent developments with respect to trade agreements between the EU and Vietnam.

EU – Vietnam

On 17 October 2018 the European Commission adopted the EU-Vietnam trade and investment agreements. Next steps will be the signature and conclusion of these agreements.


The EU-Vietnam trade agreement will ultimately eliminate over 99% of customs duties on goods traded between the two sides. Vietnam will remove 65% of import duties on EU exports as of the moment the agreement will enter into force, with the remainder of duties being gradually eliminated over a 10-year period. EU duties on imports from Vietnam will be eliminated from entering into force of the agreement or progressively over a 7-year period.

To be able to apply reduced import duty rates the products need to be of EU or Vietnamese preferential origin. Products can benefit from preferential tariff treatment of this agreement upon submission of an origin declaration or a EUR.1 certificate. In the future, the EU may move to a system of registered exporters (REX), which could stipulate that the use of an origin declaration or a EUR.1 certificate will be replaced by a statement on a commercial document.


Currently Vietnam has trade preferences with the EU under the Generalised Scheme of Preferences (GSP). Vietnam will be removed from the list of GSP beneficiary countries two years after the date that the EU-Vietnam FTA enters into force. From the moment of entry into force of this FTA, companies can benefit from both agreements for two years (e.g. if the rules of origin under the GSP are less strict than under the EU-Vietnam FTA, however likely the preferential rate under the FTA will be lower than under GSP).

Way forward

The Commission is now submitting the proposals for signature and conclusion of the agreements to the Council. Once authorised by the Council, the agreements will be signed and presented to the European Parliament for consent. After the European Parliament has given its consent, the trade agreement can be concluded by the Council and enter into force.

Take away

We advise companies to assess whether they have flows of goods that can benefit from one of these FTAs. Whether they have goods that qualify so that they can benefit from the reduced or removed import duty rates and whether they fulfill the formal criteria to issue origin declarations, EUR.1 certificates or origin statements.

Since it will take a couple of months before the agreements enter into force there is sufficient time if the goods do not yet comply, to make adjustments to the supply chain or sourcing in order to be able to benefit once the FTA’s will enter into force.

If you have any questions regarding on of these FTAs or require any assistance, please do not hesitate to contact Claudia Buysing Damsté ( / +31 (0)88 792 3811), Suzanne Bras ( / +31 (0)88 792 4267) or Stan Vullers ( +31 (0)88 792 1490).

Luncheon with the Ambassador, 8 November

The board of the Netherlands Vietnam Chamber of Commerce has the pleasure of inviting you to a special luncheon meeting with and hosted by H.E. Mme Ngo Thi Hoa, Ambassador Extraordinary and Plenipotentiary to the Netherlands.

During the luncheon, Mme Ngo will answer questions from her guests on the developments in the Socialist Republic of Vietnam and the Vietnamese – Dutch relations.

Mr. Nguyen Hai Tinh, Commercial Counsellor of the Embassy, will give a briefing on the effects of the European- Vietnamese

The meeting will be moderated by NVCC Chairman Mr. Joost Vrancken Peeters.

The number of seats at the luncheon is limited, priority will be given to members of the Netherlands Vietnam Chamber of Commerce.

Participation is free of charge.

Date: 8 November

Time: 11:00 – 13:15 hrs

Venue: Vietnamese Embassy, Javastraat 1, The Hague

Please register on or before Friday 2 November.






Vietnam cherishes investment from EU

Source Viêt Nam News

Update: October, 18/2018 – 09:00

Prime Minister Nguyễn Xuân Phúc meets with European business leaders who participate in the Việt Nam EU-Belgium Business Forum on October 17. — VNA/VNS Photo Thống Nhất

BRUSSELS — The Vietnamese Government is making concerted efforts to improve the business climate for both domestic and foreign enterprises, including those from the Europe, Prime Minister Nguyễn Xuân Phúc said on October 17.

Attending the Việt Nam EU-Belgium Business Forum jointly held by the Việt Nam Chamber of Commerce and Industry (VCCI), the Belgian Vietnamese Alliance, embassies and trade offices of Việt Nam and Belgium, PM Phúc said that the Government pledges favourable conditions to connect enterprises from both sides for the benefits of the firms and the people.

Two-way trade has increased tenfold over nearly a decade, he noted, adding that it is likely to rise to US$53 billion this year. Emphasising the Europe-Việt Nam free trade agreement (EVFTA) which is expected to open the door for the enterprises to capitalise on their cooperation potential when it takes effect, PM Phúc hoped that the European business association, especially Belgian firms, would raise their voices to push the signing of the deal.

Việt Nam will serve as a bridge for European enterprises to break into ASEAN market toward a free and fair trade, he said, underlining Việt Nam’s advantages for Belgian investments like stable socio-political and macro-economic conditions and well-developed port systems.

Together with the imminent signing of the EVFTA, Việt Nam has participated in 15 new-generation free trade agreements, which means that if Belgian firms enter Việt Nam, they will have access to a global market, he underlined. At the forum, PM Phúc and officials of both nations witnessed the signing of several cooperation documents between the VCCI and the Belgian Vietnamese Alliance, Việt Nam Post and Telecommunication Group and European mobile network business centre, and Việt Nam Project company and Sarens Group.

Speaking at the event, Chairman of the Belgium – Việt Nam Friendship Alliance Andries Gryffoy said Belgian firms are interested in seeking opportunities in health care, real estate, green energy, food, beverages, seaport infrastructure and other fields in Việt Nam, adding that they are promising investors. He said Belgium boasts a business-friendly government, dynamic research environment, and education system up to international standards and high labour productivity.

Lying in the heart of the EU with a population of 420 million and modern infrastructure, Belgium focuses on industries such as aerospace, chemicals, energy, waste and wastewater treatment, artificial intelligence and 4.0 technology, which are potential fields for partnership with Vietnamese firms, he said.

The same day, PM Phúc had working sessions with representatives from EU and Belgian leading firms operating in Việt Nam, during which they informed the Vietnamese leader on outcomes and investment and business plans in the Southeast Asian nation in such fields as oil and gas, renewable energy, agriculture, fertiliser and insecticide production, seaport infrastructure, rubber and tire production. They also made recommendations on how to accelerate cooperation between the business communities of Việt Nam and the EU, as well as between those of Việt Nam and Belgium in particular.

On October 16, Prime Minister Nguyễn Xuân Phúc received leaders of Solveigh and Nijhuis – the Dutch businesses with experience in anti-erosion, water exploitation and use, and carrying out a climate change adaptation project in central Việt Nam.

The PM hailed Solveigh and Nijhuis as well as other Dutch partners in conducting surveys, research and working solutions to minimise coastal erosion in Việt Nam. He described their work as a specific action to implement cooperation programmes within the framework of the strategic partnership on adaptation to climate change and water management between Việt Nam and the Netherlands.

Menno Holterman, managing director of Nijhuis, said the project’s partners inspected erosion in Hội An and agreed to carry out another project to address challenges in the area. It aims to improve safety and livelihood for locals, and protect and restore Hội An’s coast, while forming new eco-system tourist sites there. Investment for this will be arranged by European and Dutch organisations and businesses and Việt Nam’s T&T group.

Representatives of the two Dutch groups expressed their wish to continue receiving attention and facilitation from the Prime Minister and relevant agencies of Việt Nam during the project’s implementation.

Welcoming proposals from Dutch organisations and businesses, PM Phúc said the Vietnamese Government hopes for experience-sharing and support on human resources and technology from the Dutch partners to solve urgent issues in Việt Nam, especially coastal and riverbank erosion and subsidence, climate change response, and helping local people’s sustainable socio-economic development.

The PM suggested Dutch and Vietnamese partners coordinate with the People’s Committee of Quảng Nam Province to accelerate the study and survey to have an optimal plan.

The two Dutch groups, T&T group and other partners were asked to work with Việt Nam’s Ministry of Agriculture and Rural Development and Quảng Nam authorities to reach an implementation plan. — VNS

Shopee becomes top e-commerce player by traffic in Q3

Source Viêt Nam News

Update: October, 19/2018 – 15:57

A customer shops on the Shopee platform. — VNS Photo
HÀ NỘI – Shopee has beat Lazada to become the top e-commerce platform by traffic in the third quarter of this year, according to the Map of E-commerce in Việt Nam recently published by Iprice Insight.

Statistics showed that Shopee had a monthly average traffic of 34.5 million in the quarter.

It was closely followed by Lazada with a monthly average traffic of 30.2 million.

This is the first time Lazada has lost the top position since the second quarter of 2017.

Other players in the top five included Tiki with 29.4 million traffic per month, Sendo with 20.7 million and Adayroi with 5.3 million.

The top four, including Shopee, Lazada, Tiki and Sendo all received foreign funding.

The competition was growing fierce in Việt Nam’s e-commerce market, which is anticipated to reach US$10 billion by 2022.

The ranking was forecast to see significant changes in the last quarter of this year when e-commerce platforms would offer more promotion and discount programmes to stimulate shopping as the year-end approaches.

Iprice Insight is run by iPrime Group, a price comparison platform in seven markets, including Malaysia, Indonesia, Singapore, Hong Kong, Thailand, the Philippines and Việt Nam. — VNS

Vietcombank prepares for private placement to foreign investors

Source: Viêt Nam News

Update: October, 19/2018 – 15:44

Vietcombank’s profit by the end of September is estimated to exceed VNĐ11 trillion. – Photo VCB
HÀ NỘI — Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has come closer to a private placement of 579.7 million shares to foreign investors in a move to raise charter capital to VNĐ39.57 trillion (US$1.69 billion).

According to the largest Vietnamese lender by market value, the State Securities Commission (SSC) on Wednesday affirmed that it received Vietcombank’s application and other relevant documents for the private placement.

Under Vietcombank’s issue plan, the bank is expected to offer 53.9 million shares, or 1.36 per cent of the bank’s total shares after the offering, to its largest current foreign investor Mizuho Bank so that the Japanese bank will maintain its holding in Vietcombank at 15 per cent.

The 305.8 million remaining shares, or 7.73 per cent of the bank’s total shares after the offering, will be offered to other foreign investors.

After completing the sale, the shares will not be transferable for one year.

Vietcombank hasn’t so far released details about the private placement. However, according to the bank’s resolution of the annual general meeting of shareholders early this year, the offering price will not be lower than the price determined by an organisation providing corporate valuation services and the market price averaged in the 10 consecutive sessions before the date investors announce to buy the shares.

Additionally, the lender will favour foreign investors with strong financial status, possibly including one or several existing shareholders of Vietcombank.

With the sale, Vietcombank expects to increase its charter capital by VNĐ3.6 trillion to VNĐ39.57 trillion in a move to meet a capital adequacy ratio (CAR) of at least 8 per cent as per the State Bank of Việt Nam’s Basel II norms, starting in 2020.

Vietcombank’s profit by the end of September is estimated to exceed the VNĐ11 trillion that the bank gained in the entire 2017. The figure is up some 50 per cent against the same period last year.

With the rise, the bank is expected to soon surpass the VNĐ13 trillion profit target set for 2018 at the bank’s annual general meeting of shareholders.

Vietcombank shares (VCB) closed Friday’s morning session at VNĐ57,800 apiece, down 0.3 per cent against Thursday. — VNS