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| Deputy Prime Minister Ho Duc Phoc speaks at the EU–Vietnam Global Gateway Business and Investment Forum__Photo: VNA |
Deputy Prime Minister Ho Duc Phoc affirmed that the EU is currently one of Vietnam’s leading economic partners, with steady trade growth while addressing the EU–Vietnam Global Gateway Business and Investment Forum in Hanoi on March 24.
The event, co-organised by the EU Delegation to Vietnam, the Foreign Investment Agency under the Vietnamese Ministry of Finance, and the European Chamber of Commerce in Vietnam (EuroCham), brought together around 500 representatives from government agencies, financial institutions, and leading enterprises from Vietnam and the European Union (EU).
Phoc affirmed that Vietnam–EU relations have developed robustly over the past three decades, supported by an increasingly comprehensive cooperation framework. He highlighted the EU–Vietnam Free Trade Agreement (EVFTA) as a key driver of bilateral trade and investment.
Against the backdrop of growing global challenges, he stressed the importance of strengthening multilateral cooperation, promoting fair trade, and advancing sustainable development.
Vietnam regards the EU as a long-term, trusted partner and seeks to expand cooperation across a wide range of sectors, he affirmed.
The Deputy Prime Minister proposed the EU further support Vietnam in accessing green finance, transferring advanced technologies, and promoting high-quality investment in areas such as renewable energy, the green and digital economies, semiconductors, and strategic infrastructure. He also urged EU member states to expedite ratification of the EU–Vietnam Investment Protection Agreement (EVIPA), thereby enhancing the legal framework and boosting investor confidence.
Participants noted that the forum serves not only as a platform for policy dialogue but also as a practical mechanism to connect investors and translate commitments into concrete projects in key sectors.
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| Signing of a loan agreement on the 1,200 MW Bac Ai pumped-storage hydropower plant__Photo: VNA |
A highlight of the event was the EU’s announcement of an investment package worth over EUR 560 million (USD 650 million) for Vietnam, focusing on energy transition, sustainable transport, and infrastructure capacity building.
European Commissioner for International Partnerships Jozef Síkela said the initiative represents a tangible step in implementing the Global Gateway Strategy, combining public funding, development finance institutions, and private sector resources to generate jobs, support long-term growth, and enhance sustainability. Among the flagship projects is the 1,200 MW Bac Ai pumped-storage hydropower plant, expected to help stabilise the power system and facilitate renewable energy integration.
In addition, the EU launched a EUR-40-million sustainable transport support mechanism, aimed at mobilising more than EUR 1 billion for large-scale railway and urban transport projects.
Green finance and private sector support were also key themes. A EUR-200-million financing agreement between the European Investment Bank (EIB) and Techcombank was announced to expand access to capital for Vietnamese enterprises, particularly in renewable energy, energy efficiency, and clean transport.
EIB Vice-President Nicola Beer reaffirmed the bank’s commitment to supporting Vietnam through long-term financing, technical expertise, and high standards, contributing to the country’s green transition and improved growth quality.
The forum’s thematic sessions focused on key drivers of sustainable development, including sustainable transport, energy transition, infrastructure connectivity, the green-digital transformation, and ESG standards in investment and business practices. These discussions provided opportunities for policymakers, businesses, and experts to exchange insights, track emerging trends, and explore partnerships.
Alongside policy dialogue, the forum also witnessed the announcement of multiple cooperation agreements between EU and Vietnamese enterprises in sectors such as transport, logistics, digital healthcare, and industry.- (VNA/VLLF)
