Acting Director of the provincial Department of External Relations Nguyen Hoàng Long said the event enabled local businesses to welcome a wave of investment from European partners since the EU-Vietnam Free Trade Agreement (EVFTA) was signed in 2015.

He said the Ministry of Foreign Affairs was willing to act as a bridge between the two business communities.

According to the provincial Department of Planning and Investment, local businesses exported over US$370 million worth of goods to the European market in 2015.

European countries are running 19 projects worth nearly $24 million in the province, making up around 2.4 per cent of the total foreign direct investment (FDI).

Lying at the heart of the south-central coastal region, Khánh Hòa boasts great potential in marine economy, especially sea and island tourism and transport services.

Nha Trang, Vân Phong and Cam Ranh Bays are regarded as three key economic regions in the province, which are appealing for foreign investment in various fields such as tourism, services, and industry.

Authorities have been applying preferential policies for overseas investors.

Representatives from the European Chamber of Commerce (EuroCham) in Vietnam spoke at length about the EVFTA, as well as a project to support European small- and medium-sized enterprises (SMEs) with regard to intellectual property in Southeast Asia.