A confident turning point with Europe

Despite the current turbulence and recent shifts towards a more cautious outlook, European investors see Vietnam as a top investment destination.

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Bruno Jaspaert, chairman of the European Chamber of Commerce in Vietnam, talked to VIR’s Bich Thuy about what lies ahead.

What do you see as key factors that help Vietnam continue to be seen as a safe harbour for European businesses in the context of geopolitical tensions and pressure on global supply chains?

We cannot ignore the surrounding turbulence, but the latest data tells us something extraordinary: Vietnam keeps standing out. I would like us to look at one astonishing number: 93 per cent of our members stated they would recommend Vietnam as an investment destination. That is the highest endorsement rate we have ever recorded.

It is a powerful signal that despite the global turmoil, Vietnam retains a deep, unique magnetism. Why? Because resilience is Vietnam’s superpower. This country has repeatedly shown an ability to absorb global shocks like no other. There is a breathtaking agility here that allows the economy to adapt seamlessly, often before the rest of the world has even registered the shift.

For European businesses, a safe harbour is not just a place where nothing happens. It is a place that knows how to move with purpose when the sea gets rough. The long-term horizon here is still bright.

What institutional reforms do European investors currently expect from the Vietnamese government to maintain growth momentum and strengthen confidence in the long term?

We must all strive for substantive growth. We come here to grow our companies, but we cannot deplete resources faster than we can scale. From the Business Confidence Index report, concerns over talent shortages and staff turnover rose from 23 to 33 per cent, suggesting that human resource constraints are emerging as another factor affecting business operations.