European businesses seek stronger investment conditions, deeper trade ties with Việt Nam

European businesses seek stronger investment conditions, deeper trade ties with Việt Nam

Business leaders said Việt Nam remains a top growth market for European companies, highlighting opportunities for further investment in high-value sectors as the Southeast Asian country enters its next phase of growth.

The Việt Nam-EU Economic and Trade Cooperation Forum 2026. — VNA/VNS Photo

European business leaders called for stronger trade and investment cooperation with Việt Nam during a series of high-level meetings with senior Government officials in Hà Nội led by the EU-ASEAN Business Council (EU-ABC).

Business leaders said Việt Nam remains a top growth market for European companies, highlighting opportunities for further investment in high-value sectors as the Southeast Asian country enters its next phase of growth. 

This includes science and technology innovation, high-tech manufacturing, sustainable aviation, renewable energy and low-carbon solutions, healthcare modernisation and insurance and financial services.

Around 110 senior executives are in Hà Nội for a three-day business delegation visit from November 4 to 6, representing nearly 40 European companies in sectors ranging from high-tech manufacturing and logistics to consumer goods and healthcare. 

The visit comes shortly after the sixth anniversary of the EU-Việt Nam free trade agreement (EVFTA) in August, in addition to the upgrade of bilateral relations to a Comprehensive Strategic Partnership in January.

Executive Director of the EU-ABC Chris Humphrey said: “European businesses have been investing in Việt Nam for decades, but with the EVFTA in place, trade and investment between the European Union and Việt Nam has soared over the past few years.

"We would like that growth to continue, not only through greater European investment, but also deeper cooperation in research and development, capacity building and the sharing of expertise and best practices.”

During the meetings, discussions also explored how Việt Nam could attract more high-value investment, strengthen investor confidence and address key business challenges. This includes reducing regulatory hurdles, enhancing intellectual property protection, strengthening illicit trade prevention, streamlining customs procedures and building stronger links between foreign investors and domestic companies.

“There is no question that Việt Nam is a highly attractive market. But to ensure its long-term competitiveness, European businesses would like to see continued reforms to strengthen the opportunities accorded by the EVFTA and deepen economic integration beyond tariff elimination,” Humphrey said.

In the EU-ABC’s latest business sentiment survey, Việt Nam emerged as the top destination in ASEAN for European business expansion, with 64 per cent of respondents indicating plans to scale up in the country over the next five years. Việt Nam also drew the highest interest from companies not yet present in the market, with 34 per cent considering entry.

Humphrey noted: “European businesses see Việt Nam as a regional manufacturing hub and key part of global value chains. Việt Nam is well positioned to take the lead in advancing regional economic integration and opening the door to new opportunities across ASEAN, as the EU seeks to deepen its engagement with the region.”

In the last two days, the delegation led by EU-ABC vice-chairs Noel Clehane and Sharon Toh have met National Assembly Vice President Nguyễn Hồng Diên, Deputy Prime Minister and Minister of National Defence Phan Văn Giang, Vice Minister of Finance Nguyễn Thị Bích Ngọc, Vice Minister of Industry and Trade Lương Hoàng Thái, Vice Minister of Health Đỗ Xuân Tuyên and Vice Minister of Culture, Sports and Tourism Hồ An Phong, alongside other senior officials.

Meetings with the Ministry of Agriculture and Environment, Ministry of Science and Technology, Ministry of Construction, State Bank of Vietnam and the Department of Customs under the Ministry of Finance are also scheduled. This marks the EU-ABC’s sixth business delegation visit to Việt Nam. 

Bizhub