European firms optimistic about Vietnam’s business environment
European companies expressed optimism about the business environment in Vietnam during a recent meeting with the press, Cong Thuong (Industry & Trade) newspaper reported.
A fish processing plant in Vietnam (Illustrative image. Source: VNA)
Hanoi (VNA) – European companies expressedoptimism about the business environment in Vietnam during a recent meeting withthe press, Cong Thuong (Industry & Trade) newspaper reported.
The European Chamber of Commerce in Vietnam(EuroCham) revealed the positivity from a survey on Vietnam’s businessenvironment in the fourth quarter of 2016.
Nearly 73 percent of European businesses wereoptimistic about their operations in Vietnam, and only 5.5 percent werepessimistic.
Up to 90 percent of companies said they willmaintain or increase investment in the Southeast Asian country, while 56percent said they plan to keep or increase the number of employees, and a mere6.7 percent plan to reduce staff.
The European chamber has held various activitiesto encourage enterprises to invest in Vietnamese localities such as Buon MeThuot in the Central Highlands province of Dak Lak and the northern port cityof Hai Phong along with other Central Highlands provinces.
It established a branch in the central region tohelp businesses step up investment in Quang Nam, Da Nang and Thua Thien – Hue,and hopes to set up more branches in Hai Phong and other localities.
This year, the chamber will accelerate theenforcement of the EU-Vietnam Free Trade Agreement (EVFTA) and clear upconcerns raised by European firms, as well as host more dialogues betweenVietnamese government representatives, ministries and agencies with Europeancompanies.
EuroCham expects the Vietnamese government tofurther improve the business environment and increase the competitiveness ofthe economy.
The chamber will devises measures to helpbusinesses implement the EVFTA.
EuroCham’s Whitebook 2017 highlighting issuesrelevant to trade and investment in Vietnam is scheduled to be launched onMarch 2 this year.-VNA
A poll carried out by EuroCham showed that Vietnam’s business climate index in the third quarter of 2016 went up ten points from the previous quarter to 84 points.
Vietnamese and European businesses have shared their information about food safety standards and opportunities for farm produce and beverage products to enter in each other’s market.
The upcoming free trade agreement between Vietnam and the European Union (EVFTA) will open new opportunities for Vietnam to access modern technologies and learn management skills.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
A fish processing plant in Vietnam (Illustrative image. Source: VNA) 
