Vietnam urged to ease business barriers to attract European investment

European business representatives called on Vietnam to simplify administrative procedures, train more skilled workers and improve green energy access to draw further investment. They spoke at an economic and trade forum in Hanoi on November 4 and in interviews with Vietnam News Agency.

EuroCham Vice Chairman Torben Minko cited the chamber’s latest Business Confidence Index survey, which found that 90 per cent of respondents would recommend Vietnam for business or investment. Another finding showed 23 per cent had investment horizons exceeding 20 years.

Minko said confidence coexisted with operational difficulties. Businesses reported eight challenges on average, while some companies particularly affected by regulatory changes faced up to 27 administrative barriers. He urged Vietnam to digitalise procedures and develop skills, particularly for renewable energy and high-tech industries.

EU-ASEAN Business Council Vice Chairman Noel Clehane said Vietnam’s established manufacturing and export operations helped it compete for European investment. He argued that attracting capital should be accompanied by efforts to secure technology, management expertise, workforce development and closer connections with local businesses.

Clehane identified opportunities in renewable energy, including wind, solar, battery storage and electricity grids. He also pointed to high-tech manufacturing, aviation, biotechnology, medical equipment and pharmaceuticals as potential areas for investment.

On exports, Minko said Vietnamese companies needed to strengthen compliance with environmental, social and governance standards and monitor EU regulations. Cooperation with European companies could help local suppliers through technical advice, technology transfer and joint research, he said. Smaller businesses also needed financial and technical assistance with traceability, production processes and energy efficiency.