Prime Minister Pham Minh Chinh has called on EU enterprises to strengthen their collaboration with Vietnam in emerging energy sectors, such as hydrogen and renewable energy.
On March 2, the Prime Minister chaired a roundtable discussion with major European corporations and enterprises. Joining the event were Deputy Prime Ministers Ho Duc Phoc and Nguyen Chi Dung, along with Deputy Minister of Industry and Trade Nguyen Hoang Long, leaders from the Ministry of Health, the Ministry of Agriculture and Environment, representatives from central agencies, localities, and 15 major Vietnamese corporations and enterprises.
On the European side, attendees included the EU Ambassador to Vietnam, ambassadors from EU member states, leaders of European business associations, and representatives from 16 large corporations and enterprises.
EVIPA ratification a top priority
Discussions at the roundtable revealed that Vietnam-EU bilateral trade reached $68 billion in 2024, reflecting a 16% increase from 2023. The EU is Vietnam’s fourth-largest trading partner and its fifth-largest investor, with total cumulative investment exceeding $30 billion. Additionally, the EU remains a leading provider of ODA to Vietnam, allocating €210 million for the 2021-2024 period.
Julien Guerrier, EU Ambassador and Head of the EU Delegation to Vietnam, reaffirmed European businesses’ confidence in Vietnam’s potential. He emphasized that beyond conducting business, European enterprises are eager to attract additional investors to Vietnam.
Highlighting the effectiveness of the EU-Vietnam Free Trade Agreement (EVFTA), Ambassador Guerrier stressed that both sides must strengthen cooperation to maximize its benefits. He also urged EU member states to expedite the ratification of the EU-Vietnam Investment Protection Agreement (EVIPA) as soon as possible within the permitted timeframe.
Strengthening cooperation in the energy sector
To advance Vietnam’s national development goals and enhance the quality and efficiency of investment cooperation with the EU, Prime Minister Pham Minh Chinh urged European enterprises to be proactive in deepening ties and expanding collaboration with Vietnam and EU member states. He underscored the need for a strong foundation to foster broad-based cooperation across multiple sectors.
The Prime Minister encouraged EU businesses to expand their production and operations, increase high-quality investments, accelerate technology transfer, and support human resource training in Vietnam – particularly in emerging industries and management capacity development.
He also called for deeper cooperation in key sectors, including the green economy, digital economy, circular economy, knowledge-based economy; financial centers and green finance; new energy (such as hydrogen) and renewable energy; and marine economic development, covering logistics, seaports, offshore wind power, and aquaculture. Other priority areas include biotechnology, healthcare, and high-tech agriculture.
Additionally, he emphasized the importance of strengthening business-to-business collaboration to enable Vietnamese enterprises to integrate more deeply into EU supply chains. This, he noted, would help position Vietnam as a strategic production, business, and long-term investment hub for EU enterprises in the ASEAN region.
The Prime Minister expressed his hope that EU businesses would actively support, engage in, and collaborate with Vietnam to achieve high economic growth—ensuring rapid yet sustainable development. He emphasized that this partnership should bring tangible benefits to businesses, citizens, and the broader bilateral relationship between Vietnam, EU member states, and the EU as a whole.
Government commitment to renewable energy development
At the roundtable discussion, Deputy Minister of Industry and Trade Nguyen Hoang Long addressed business concerns and provided clarifications on various issues. He announced that the government is set to issue a new decree with an ambitious goal of developing 80,000 to 100,000 MW of renewable energy. Additionally, the government plans to introduce a “self-consumption electricity” mechanism to optimize clean energy capacity.
Source: Cong Thuong
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