Dear EuroCham Vietnam members,
It feels like it was just a few weeks ago that I was addressing all of you at the beginning of 2025. And yet here we are, already turning the page on the year: a year that did not slow down; a year shaped by geopolitical shifts, trade realignments, and intensifying climate pressure; and a year that tested assumptions and reinvented governmental structures. Time flies – and so does this country we call our home away from home. Vietnam is economically flying higher than ever before, showing remarkable resilience along the way.
That resilience is not abstract. It is real, visible, and tangible here in Vietnam. Living and working in this country remains a privilege for me. Throughout 2025, EuroCham maintained open and constructive dialogue* with Vietnamese leadership – at national level and increasingly across the provinces. At the same time, I witnessed once again the strength of our community. When extreme weather struck central Vietnam, our members mobilised quickly to support the vulnerable communities. The 50-for-1 campaign raised over $80,000 in record time. That is not an abstract commitment. That is action.
*Explore EuroCham’s key highlights from 2025 and see how we have made an impact this year.
Resilience is also reflected in the data. Vietnam’s GDP is estimated to have reached around $514 billion in 2025, growing by 8.02%. This is growth despite the global turbulence and the economic insecurity it involves. After the so-called “Liberation Day” tariffs announcement, many asked whether Vietnam would need to revise its 8% growth ambition. My answer then was simple and straightforward: there would be no impact. Not because headwinds were absent, but because without tariffs, growth would have been even higher. As it turned out, Vietnam’s resilience once again exceeded expectations… and yes, I am now happily collecting a lot of (Belgian) beers from that friendly bet with the crowd of journalists attending our special briefing back in April.
Trade momentum confirms this resilience. Exports and imports both grew by over 17% year-on-year, while industry, construction, investment, and consumption continued to drive the economy forward. Vietnam is firmly positioned among ASEAN’s fastest-growing economies, and in time, is set to surpass Thailand to become the region’s third economic powerhouse, just right behind Indonesia and Singapore. That might even happen in 2026 actually.
Structural reform is accelerating. Ministerial overhauls, provincial mergers, e-IDs for foreign individuals and FDI enterprises, continued infrastructure investment and an expanding network of FTAs are not cosmetic changes, they are the solid foundations for future growth. If a country wants to be successful, it needs to start with the basics and ensure a transparent legal framework that looks after the interest of its investors. No doubt the year of the Horse will bring us even more reforms. Change is not always easy to adapt to, and for sure, there will be growing pains, but that means also that there is (economic) growth, an increasingly rare phenomenon these days.
Our latest Business Confidence Index (BCI)** confirms what many of you already feel on the ground. After seven years hovering around neutrality, the BCI has decisively reached 80 points, surpassing both pre-tariff and pre-Covid levels. Even more striking, 88% of respondents express confidence in Vietnam’s long-term outlook. A lucky number perhaps, but more importantly, a rational one. Over the next five to seven years, Vietnam is destined the place to be, rising to enter a golden era of growth and transformation.
**Discover the latest trends and insights in our freshly released BCI report.
In parallel, at EuroCham, we are not standing still either. In 2025, we worked hard to stay ahead of change and to advocate more effectively for you, our members. This resulted in Impact 2030 – a forward-looking roadmap that we will soon launch, defining how EuroCham will deliver sharper advocacy, stronger data and more tangible value. From our Whitebook recommendations and BCI insights, to green investment platforms and a refreshed flagship event, our ambition is clear: practical relevance in a fast-evolving environment.
The year 2025 was also significant for EU-Vietnam relations. We marked 35 years of diplomatic ties and five years of the EVFTA, during which more than $365 billion in two-way trade has taken place since the Agreement came into force. European FDI into Vietnam also edged upward – from 5.4% in 2024 to 7.1% in 2025 – still modest, but progress nonetheless.
In 2026, partnerships will further deepen. We look forward to welcoming several high-level European delegations to Vietnam, including the anticipated visits of EU Commissioners Síkela and Tzitzikostas, accompanied by a dedicated Business Forum. These engagements between Hanoi and Brussels reflect the growing strategic weight of the EU-Vietnam relationship, particularly in sustainability and future-oriented growth. EuroCham has a bridging role to play – connecting people, policy, and opportunities that drive shared prosperity.
EuroCham is not an island. None of this happens in isolation. What we achieved in 2025 was built on trust and teamwork: our 1,400 members, 9 affiliated business associations, 20 sector committees, 34 corporate partners, and the continued support of both Vietnamese and EU authorities. I also extend my sincere appreciation to the EuroCham Boards and our team for their energy, dedication and unwavering commitment.
We do not expect to travel back in time: 2026 will not be about returning to old certainties. It will be about navigating change with clarity and confidence. Geopolitical realignment, technological disruption, and climate pressure will only accelerate. EuroCham’s role is clear: to anticipate risks early, translate complex regulations into practical guidance, and ensure European businesses in Vietnam remain competitive, compliant, and resilient, while showcasing that European businesses have the technology and solutions that can benefit this country.
Practically, this means deeper policy engagement, stronger data-driven advocacy, and more targeted platforms for dialogue – not only in Hanoi and Ho Chi Minh City, but increasingly at the provincial and sectoral levels, where many of tomorrow’s opportunities will emerge.
As the year of the Horse will soon begin – a symbol of strength, endurance, and momentum – I encourage you to stay engaged*** and make full use of our Chamber as your partner on this journey. EuroCham will continue to evolve, just as Vietnam is evolving. And we will continue to advocate for our Must-Win Battles on key topics until we achieve our goals.
***Renew your membership with EuroCham or our 9 affiliated business associations now.
****Take the 2025 Membership Satisfaction Survey here.
As Europeans, we know that Rome was not built in a day. Nor is Vietnam. Together, we can help build this country up, day after day. And before we turn the page to 2026, I invite you to share your views by completing our 2025 Membership Satisfaction Survey. This is the final week to do so, and your feedback – it only takes five minutes – will help shape how EuroCham serves you better in the year ahead.
May success ride swiftly to you in all that you do. Chúc mừng năm mới! Mã đáo thành công!
BRUNO JASPAERT
EuroCham Vietnam Chairman
