Vietnam, EU shape future of green economy, new value chains

The forum, themed “Shaping the Future Green Economy & New Value Chains”, was jointly organised by the Ministry of Industry and Trade, the EU Delegation to Vietnam, the EU-ASEAN Business Council (EU-ABC) and the European Chamber of Commerce in Vietnam (EuroCham).

In his remarks Deputy Minister of Industry and Trade Luong Hoang Thai said the ninth edition of the forum serves as an effective channel for regular exchanges between government agencies and business communities on policies, market development, trade connectivity and investment.

Vietnam is pursuing major strategic economic goals, including maintaining macroeconomic stability, achieving average annual GDP growth of at least 10% during 2026-2030 and becoming one of the world's 30 largest economies by 2030, he noted.

The year 2026 marks a new chapter in Vietnam-EU relations following their elevation of bilateral ties to a Comprehensive Strategic Partnership. Together with the Vietnam-EU Free Trade Agreement (EVFTA), the upgraded ties provide a solid foundation for more substantive and effective trade and investment cooperation.

More than six years after the EVFTA took effect, bilateral trade has maintained positive growth. Two-way trade surpassed US$65 billion in the first nine months of 2026, up nearly 20% year on year.

The EU is Vietnam's fourth-largest trading partner, third-largest export market and sixth-largest import market, while Vietnam is the EU's largest trading partner in ASEAN and its ninth-largest goods supplier.

Thai said Vietnam hopes the EU will remain a key export market and become a strategic partner in trade upgrading, industrial linkages, economic autonomy and the adoption of higher sustainability standards.

He added that Vietnam seeks to increase exports of technology-intensive, deeply processed and high-value-added products while importing advanced machinery, equipment, materials, green technologies and circular energy solutions from Europe.

Given the EU's technological strengths, management expertise and financial resources, Vietnam called on European partners to expand technical assistance, technology transfer and investment in green, digital and energy transitions and circular economy projects. It also expects the EU to translate commitments under the Just Energy Transition Partnership (JETP) into concrete financial and technological support.

EU Ambassador to Vietnam Julien Guerrier reaffirmed that Vietnam is a strategic partner of the bloc, saying the upgraded relationship has generated fresh political momentum.

He stressed that the full and effective implementation of the EVFTA is essential to unlocking cooperation potential, particularly through fair market access and a stable, transparent and predictable business environment.

The EU supports Vietnam's efforts to improve law enforcement, shift from pre-inspection controls towards risk-based management, and ensure more consistent implementation of regulations across localities, he said. Such reforms would strengthen investor confidence, reduce costs and attract high-quality European investment.

Guerrier highlighted cooperation opportunities in renewable energy, circular economy, sustainable manufacturing, aerospace, seaports, airports, logistics, semiconductors, digital transformation, strategic minerals, healthcare, biotechnology and high-tech agriculture.

Noel Clehane, Vice Chairman of the EU-ABC, said Vietnam is well positioned to attract a greater share of EU investment, manufacturing, technology and business partnerships in ASEAN, but should focus on high-quality, long-term investment that generates greater added value.

European investment could bring advanced technologies, expertise, workforce development and stronger links with Vietnamese enterprises, helping the country integrate more deeply into regional and global value chains, he said.

Participants also highlighted cooperation in the energy sector. Trinh Quoc Vu, Deputy Director of the Electricity Authority of Vietnam under the Ministry of Industry and Trade, said Vietnam's net-zero target by 2050 and ambitious economic growth goals are placing greater demands on energy security.

He called on European businesses to participate more actively in implementing the revised Power Development Plan VIII through investment in power generation and grid infrastructure, technology provision, technical solutions and international financing.

Vietnam also hopes to work with European partners to develop renewable energy supply chains, particularly for offshore wind power, to meet domestic demand and serve export markets, he added.

Vietnam, EU seek to deepen economic and trade ties

Vietnam and the European Union (EU) have steadily expanded cooperation in various fields from politics and diplomacy to trade, investment, science and technology, and sustainable development over more than 35 years of diplomatic relations.