European firms push for stronger trade ties with Vietnam
- 110 senior executives from 40 European companies visited Hanoi from November 4 to 6.
- The visit aims to boost investment in high-tech, renewable energy, and healthcare.
- Vietnam is the top ASEAN destination for European business expansion according to the EU-ABC.
- Bilateral relations were upgraded to a Comprehensive Strategic Partnership in January.
- EU-ABC executive director Chris Humphrey urged further regulatory reforms to ensure competitiveness.
A delegation of 110 senior executives representing nearly 40 European companies visited Hanoi for a three-day business trip that concluded on Wednesday, 6 November. These business leaders, led by the EU-ASEAN Business Council, conducted high-level meetings with senior government officials to discuss trade and investment cooperation.
The delegation visited Hanoi to explore investment opportunities in sectors including high-tech manufacturing, science and technology, sustainable aviation, renewable energy, healthcare, and financial services. The delegation’s visit is intended to reinforce the push for stronger trade ties between Vietnam and Europe.
Comprehensive Strategic Partnership drives investment focus
Bilateral relations between the two sides were also upgraded to a Comprehensive Strategic Partnership in January.
Vietnam and the European Union are now pursuing the development of new value chains.
Vietnam ranked top ASEAN destination for European expansion
The latest business sentiment survey shows that 64 per cent of respondents plan to scale up their operations over the next five years.
34 per cent of European companies not yet present in the market are considering entry.
Chris Humphrey urges regulatory reforms for long-term growth
He told officials that the council seeks continued growth through deeper cooperation in research, development, and the sharing of expertise.
Discussions during the meetings addressed methods to improve investor confidence by reducing regulatory hurdles and streamlining customs. Participants also discussed strengthening intellectual property protection, preventing illicit trade, and linking foreign and domestic firms.
Humphrey said that while Vietnam is a highly attractive market, European businesses want to see continued reforms that deepen economic integration beyond simple tariff elimination. He noted that these steps are necessary to ensure long-term competitiveness for the country.
Humphrey said European businesses view Vietnam as a regional manufacturing hub and a key part of global value chains. He added that the country is well positioned to lead regional economic integration as the European Union deepens its engagement with the ASEAN region.
Upcoming diplomatic visits and digital economic growth
Vietnam is currently the fastest-growing digital economy in Southeast Asia. The country is accelerating 5G utilisation and is preparing for 6G technology.
In the financial sector, Asahi Life completed the acquisition of a Vietnamese life insurer.
Broader economic landscape and tourism trends
Vietnam is a mixed socialist-oriented market economy and is the 33rd-largest in the world by nominal GDP and 23rd-largest by purchasing power parity.
Manufacturing growth in the country eased in October as export orders fell. Visa has called for the introduction of real-time controls in travel expense management.
Agoda data indicates that Vietnam was the fourth most-searched Asian destination by European travelers for summer 2026.
- European firms push for stronger Vietnam trade ties (vir.com.vn)
- Vietnam Investment Review (tavily.com)
- Economy of Vietnam (Wikipedia — background) (en.wikipedia.org)
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