Mr Bruno Jaspaert, Chairman of the European Chamber of Commerce in Vietnam (EuroCham), spoke with our reporter about these priorities and Vietnam’s prospects for attracting high-quality European investment.

Mr Bruno Jaspaert, Chairman of the European Chamber of Commerce in Vietnam (EuroCham)

How do you see the outlook for a new generation of European investment in Vietnam, particularly as European companies place greater emphasis on sustainability, supply-chain resilience and international standards?

Vietnam has established itself as one of Asia's most attractive investment destinations. GDP grew by 8.18% in the first half of 2026, while EuroCham's latest Business Confidence Index (BCI) reached 79.7 points in Q2 2026, close to its highest level in seven years. More importantly, 69% of European businesses expect conditions to improve further, and over half already consider Vietnam one of their strategic markets.

The Government’s 10% GDP growth target is an exceptional statement. But numbers on a balance sheet do not move on intentions alone. To achieve this double-digit momentum in a fractured global landscape, Vietnam must transition rapidly from an investment model built on low costs to one built on total ecosystem efficiency.

The famous 10% growth target has been a major talking point at countless seminars. I have personally engaged in several debates with other investors and economists on this very topic. To be quite frank, most outside observers are highly skeptical about the timeline and the mechanics of achieving such a blistering pace. Personally, I have absolutely no doubts about it. Soon enough, the coveted double-digit figure will materialize. I have learned that once Vietnam sets its sights on a goal, no matter how ambitious it is, this country will move mountains to make it work.

Look at the monumental infrastructure investments cutting through cities and economic zones right now. This country is actively gearing itself up for large-scale projects that will entirely redefine its economic trajectory over the next five to seven years. If we look back at how China built itself up, they deployed an infrastructure driven FDI strategy: constructing massive roads, utilities, and connectivity networks years before the actual business communities arrived. Vietnam is doing something far more complex: building infrastructure concurrently while seeking this growth in GDP and FDI. To do so it is pushing itself to pull off a once-in-a-lifetime national reinvention.

This "era of rising" offers tremendous opportunities for companies to jump into the open arms of a government calling for sustainable, green capital. We cannot forget that Vietnam does not just have an ambitious 10% growth target, it also has an equally if not more ambitious Net Zero target by 2050.

Investment value will always remain important, but it should no longer be the primary measure of success. The real question is what kind of economy that investment helps build.

Success should increasingly be measured through indicators such as productivity growth, value-added exports, technology transfer, R&D expenditure, local supplier participation, workforce skills development and innovation capacity. These indicators better reflect whether investment is strengthening Vietnam's long-term competitiveness.

Ultimately, the most successful investment is not necessarily the largest project announced. It is the one that develops Vietnamese talent, strengthens domestic enterprises, creates intellectual property, contributes to the green transition and remains deeply rooted in Vietnam for decades to come. That, I believe, is exactly the future the Vietnamese Government seeks to achieve, and also one that European investors are building towards.

Mr Nguyen Thanh Nghi (right), Politburo Member and Chairman of the Central Policy and Strategy Commission, and other delegates at the EuroCham White Book launch event

How are ESG, the green transition and international standards shaping the investment and business strategies of European companies in Vietnam? What do Vietnamese businesses need to do to better meet these requirements and participate in European value chains?

European companies enter this market with a distinct, long-term vision. We are not here for transient, transactional manufacturing. We build integrated value chains, linking production with efficient logistics, stable energy systems, and advanced digital infrastructure. For a European multinational, setting up a factory footprint is merely step one; the true metric of success is establishing a surrounding ecosystem that can operate efficiently and sustainably over a fifteen- to twenty-year payback horizon.

In my own business, pouring capital into green infrastructure and climate resilience was a heavy, expensive upfront investment but it was a non-negotiable cost to future-proof our operations. And it paid off as this shift did not impact our margins as it allowed us to become a leading eco industrial park pioneer warranting a premium price. The Vietnamese Government is executing the exact same strategy on a national level. The massive infrastructure pipeline currently underway is capital-intensive today, but it is an absolute necessity to prevent economic stagnation and will directly add vital percentage points to long-term GDP. Furthermore, Vietnam has a unique fiscal weapon that many European nations can only dream of: a remarkably low national debt-to-GDP ratio. This gives the state the financial leverage to open the vaults and fund large-scale green energy grids and transport corridors.

Vietnam enters this new phase of growth from a position of resilient strength. It combines political stability, one of Asia's fastest-growing economies, an extensive network of free trade agreements and an increasingly ambitious reform agenda. These advantages explain why European business confidence has remained close to a seven-year high despite considerable global uncertainty.

Looking ahead, competitiveness will increasingly depend on execution. Investors will compare Vietnam not only with Europe, but with Indonesia, Malaysia, Thailand and India, all of which are competing aggressively for the same high-value projects.

As someone who proudly considers Vietnam my second home, my belief in this country is anchored in daily operational reality. You see it in expanding industrial zones, higher-performing ports, and investment committees approving long-term capital because they trust Vietnam's trajectory. My message to Vietnam is simple: resist the temptation of easy, short-term wins. Keep building the deep, sustainable capacity that global investors are eager to support.

What should Vietnam prioritize to attract and retain high-quality European investment, particularly in terms of the business environment, institutions, infrastructure, human resources and conditions for long-term investment?

The next generation of investment will be won not by incentives only but also by capability. European companies already recognize Vietnam's political stability, strategic location and impressive growth story. The next challenge is ensuring that the broader business ecosystem keeps pace with the country's ambitions.

Talent is perhaps the most pressing priority. Our latest BCI shows concerns around skilled labor have risen from 23% at the end of 2025 to 38% in Q2 2026, making it one of the three biggest operational challenges for European businesses. As Vietnam moves into semiconductors, advanced manufacturing and green technologies, developing engineers, technicians and ESG specialists will be just as important as developing industrial parks.

The second priority is regulatory efficiency. Sustainability is increasingly governed by technical standards, certification and traceability. Businesses need internationally recognized testing facilities, faster conformity assessments and predictable product approval processes. Delays in testing or certification can postpone market access by months, reducing Vietnam's competitiveness against regional peers.

Finally, administrative reform remains fundamental. Our BCI consistently shows that regulatory procedures remain the most significant operational challenge for European companies. Every unnecessary approval, overlapping requirement or inconsistent interpretation diverts resources away from innovation, digitalization and decarbonization. If Vietnam succeeds in simplifying these processes while continuing to invest in people, it will become one of Asia's most attractive destinations for high-value, sustainable investment.

How do you view VCCI’s role in connecting Vietnamese and foreign-invested companies, and how can cooperation be strengthened to deepen trade, investment and business linkages?

Vietnam’s political landscape has stabilized, allowing the Government to advance structural and legal reforms at an incredible pace. This rapid legislative evolution promises greater transparency and uniform enforcement down the road. Of course, moving at this speed creates short-term pressures, from hiccup during the early implementation phase and tight talent pipelines to overheated real estate and environmental strains. Yet, if forced to choose between an economy changing too fast or one moving too slow, I will choose fast every single time. Vietnam’s economy is in its vibrant, energetic youth: a period with the courage to iterate, reinvent, and bet big on the global stage. In Europe, mature economies can sometimes hesitate out of fear of disrupting past achievements; Vietnam, by contrast, possesses the determination to play and win in the modern economy.

European leaders take great confidence in the Prime Minister’s vision of a "people-serving government" and "systemic efficiency," values that directly mirror our own core principles. We are deeply grateful to the Government, key ministries, the State Bank, and the National Assembly for their open, collaborative engagement during our Whitebook Dialogues in May 2026.

Equally, we place immense value on our partnership with VCCI. Synthesizing feedback from across the business community into constructive advocacy is a massive undertaking, and VCCI carries this mantle brilliantly. Their Provincial Competitive Index (PCI) and Provincial Green Index (PGI) complement EuroCham’s Business Confidence Index (BCI) as well, offering investors a nuanced, complete picture of Vietnam’s local business environment. Together, our unified voice provides the clarity needed to drive the country’s next economic chapter.

As international investors, we are not here to hand over a checklist of complaints and walk away. We are fully committed partners, dedicated to ensuring that Vietnam’s "era of rising" is backed by the financial, physical, and legal foundation required to make it sustainable, inclusive, and unstoppable.

Thank you very much!