Hanoi(VNA) - The European Chamber of Commerce in Vietnam (EuroCham) on February 16launched its 2022-2023 Whitebook, with the theme “Working Toward a GreenEconomy and Sustainable Development”.

The annual publicationpresents policy recommendations that aim at resolving regulatory hurdles andfacilitating the growth of the country's economy, focusing on areas of health care, the green economy and sustainability, and innovation andinvestment.

EuroCham Chairman Alain Cany said that theintroduction of the Whitebook, along with relevant discussions, has broughtabout chances to seek solutions for the development of all areas.

EuroCham alsogives recommendations on waste water management, offshore wind powerdevelopment, and green building, along with new regulations on visas and workpermits to attract foreign workforce.

He pledged thatEuroCham will coordinate with Vietnam in creating opportunities for allparties.

Thomas Wiersing, chargé d’affaires of the Delegation of the European Union to Vietnam, said that the EU-Vietnam Free Trade Agrement (EVFTA) has facilitated import-export and investment of both the EU andVietnam, adding that the launch of the Whitebook will help strengthen bilateralcooperation in investment and attract more capital to Vietnam.

In order to effectivelyimplement the EVFTA and this cooperation, Wiersing expressed his hope for more support from businesses and the Government of Vietnam to make full use ofthe existing advantages brought about by the deal.

According to the Whitebook,Vietnam has great opportunities in investment and development of renewableenergy and wind power as an alternative solution to support the country'stransition.

Stuart Livesey fromthe Copenhagen Infrastructure Partners (CIP) said that new energy sources suchas offshore wind power require huge investment. However, the complexity of theseprojects mainly comes from a lack of a legal and policy framework, which hasslowed down the investment capital flows needed to achieve net-zero emissions,he said.

Participants said theyexpect clearer information on Vietnam's power development plan and its relatedpolicies, along with the rapid development of a legal and policy framework toenable the private sector to engage in national energy investment.

Nguyen Quang Vinh,Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said manyaspects such as energy transition, renewable energy development, low carbonhydrogen, waste-to-energy or green tourism are new. In order to attractinvestment to these areas, it is necessary to put in place the necessarymeasures and policies as soon as possible to provide a clear context forforeign investors, he recommended./.