Prime Minister Pham Minh Chinh meets with the EU-ASEAN Business Council (EU-ABC) and the European Chamber of Commerce in Vietnam (EuroCham) – Photo: VGP
|
On the afternoon of November 27th, Prime Minister Pham Minh Chinh received a delegation from the EU-ASEAN Business Council (EU-ABC) and EuroCham, comprising nearly 40 leading European enterprises visiting Vietnam. The meeting took place as both sides celebrated 35 years of diplomatic relations and worked towards elevating Vietnam-EU ties to a Comprehensive Strategic Partnership.
EU-ABC Chairman Jens Rubbert expressed sympathy for the flood damage in Vietnam and affirmed that Europe considers Vietnam a key partner within ASEAN. He praised Vietnam’s growing international prominence, including its participation in the G20 and the upgrade of its stock market to emerging status.
According to EU businesses, Vietnam’s projected GDP growth of over 8% in 2025, stable macroeconomic environment, export competitiveness, and rapid digital and green transformation make it one of the most attractive investment destinations in the region. European corporations emphasized their commitment to long-term partnerships through high-quality investments and technology transfers.
EuroCham Chairman Bruno Jaspaert announced that EU businesses had donated 88,000 euros for disaster relief and pledged further investment expansion. EU Ambassador Julien Guerrier also expressed confidence in the emergence of more strategic projects in Vietnam.
The EU remains one of Vietnam’s largest trade and investment partners. Thanks to the EVFTA, bilateral trade in the first nine months of 2025 reached $54.6 billion, up 8.4% year-on-year. The EU currently has 2,743 active projects in Vietnam with a total capital of nearly $32 billion, ranking seventh among foreign investors.
Since March 2025, the Vietnamese government has held multiple direct meetings with European businesses and urged ministries to promptly address their concerns, ensuring the “6 clear” principles and a proactive approach.
Vietnam Prioritizes Macro-Stability and Institutional Reform
Prime Minister Pham Minh Chinh emphasized Vietnam’s commitment to cooperation with the EU and acknowledged the substantial contributions of European businesses. In 2025, Vietnam’s GDP is estimated at over $510 billion, with a per capita income of approximately $5,000, officially entering the upper-middle-income group; international trade is nearing $900 billion.
Prime Minister Pham Minh Chinh speaks at the meeting – Photo: VGP
|
Vietnam aims to become an industrialized developing country by 2030 and a high-income developed nation by 2045. To achieve this, Vietnam is vigorously implementing transformative policies: streamlining the apparatus, administrative reform, shifting to a proactive administration, while promoting digital and green transitions, science and technology development, and innovation.
The government prioritizes macroeconomic stability, inflation control, and major balances, targeting GDP growth of 8% in 2025 and aiming for double-digit growth in subsequent years.
Calls for Deeper Cooperation from Trade to Green Development
The Prime Minister urged the EU and European businesses to effectively implement the EVFTA, expand markets, and enhance cooperation in areas where the EU excels, such as green and digital transformation, clean agriculture, high technology, AI, semiconductors, renewable energy, transport infrastructure, smart cities, and the blue economy.
Vietnam also welcomes investment in strategic projects and requests EU businesses to support the remaining seven member states in ratifying the EVIPA for new investment breakthroughs.
Regarding IUU, the Prime Minister stated that Vietnam has established an international standard legal framework, tightened fishing vessel management, ensured traceability, and strictly penalized violations. He called on EU business associations to advocate for the EC to promptly remove the “yellow card” and strengthen cooperation for sustainable fisheries development.
Vietnam commits to “3 guarantees”: considering FDI as a vital economic component, ensuring legal investor rights, and maintaining political and policy stability. This is accompanied by “3 togethers”: listening together, sharing visions, and acting together for sustainable development.
The Prime Minister affirmed that, in the spirit of a “proactive state and pioneering enterprises,” Vietnam hopes European businesses will continue to engage and contribute to long-term development goals during this acceleration phase.
– 20:43 27/11/2025
Unlocking $64.5 Billion in Textile Exports by 2030: Competing Through Green Capabilities
Despite projections of a 5.6% growth to $46 billion by 2025, Vietnam’s textile industry faces mounting pressure from European countervailing duties, emission standards, and Extended Producer Responsibility (EPR) regulations. While the EVFTA opens market opportunities, businesses must prioritize significant investments in green capabilities and traceability to remain competitive.
Prime Minister Visits and Engages with Africa’s Largest Stock Market
On the morning of November 21st (local time, afternoon of the same day in Hanoi), as part of his attendance at the G20 Summit and bilateral activities in South Africa, Prime Minister Pham Minh Chinh met with Leila Fourie, CEO of the Johannesburg Stock Exchange (JSE). He also visited and opened the trading session at the Johannesburg Stock Exchange.
Secretary General To Lam Meets with Luxshare-ICT Group Leadership (China)
On the afternoon of November 15th, at the Communist Party of Vietnam’s Central Headquarters, General Secretary Tô Lâm received Mr. Wang Laisheng, Vice Chairman of Luxshare-ICT Group, China.
UOB Upgrades Vietnam’s 2025 GDP Growth Forecast
Vietnam continues its remarkable growth trajectory, fueled by surging exports and a robust manufacturing recovery. However, tariff risks, inflationary pressures, and currency volatility remain critical factors to monitor closely in the final quarter.
EuroCham Chairman: Vietnam Poised to Join the Top 15 Global Economies
Vietnam stands at a unique crossroads, poised for unprecedented growth. With an extensive network of Free Trade Agreements (FTAs), a rapidly expanding manufacturing capacity, and an economy renowned for its resilience, the country is primed to surge ahead. As the Chairman of EuroCham observes, these factors collectively position Vietnam as a formidable player in the global arena, ready to capitalize on its strengths and chart a course toward remarkable advancement.
