The French-Vietnam Chamber of Commerce and Industry has recently announced that the European Union (EU) has placed Vietnam at the centre of its Global Gateway strategy—a policy to mobilise capital for green infrastructure, digitalisation and global connectivity.
This strategic reorientation goes beyond diplomacy and is already being reflected in substantial projects and capital flows. According to the General Statistics Office of Vietnam, foreign direct investment (FDI) in Vietnam has continued to rise this year, reaching more than US$28.5 billion in the first nine months—up by over 15% year-on-year. Of the 82 economies launching new projects, the EU ranks among the top ten investing regions, coming sixth after South Korea, Japan, Singapore, Taiwan, and Hong Kong.
Through the Just Energy Transition Partnership (JETP), the “Team Europe” community has committed €2.8 billion to help Vietnam reduce emissions, advance renewable energy, and modernise its national grid infrastructure. At the same time, under the Global Gateway initiative—which aims to mobilise up to €300 billion before 2027—strategic capital is being directed into clean energy, transportation, and digital infrastructure across Asia, with Vietnam identified as a key partner.
Specifically, the EU has pledged €430 million for the Bắc Ái pumped‑storage hydropower plant (in the former Ninh Thuận province)—a JETP project expected to become operational in 2029 with a capacity of 1,200 MW. This initiative not only adds to the country’s clean electricity supply but also creates thousands of jobs. The project was approved in the National Power Development Plan for the period 2021-2030 with a vision toward 2050 (Power Plan 8).
In the former Bình Định province, Swedish firm SYRE Impact AB is investing US$1 billion to build a polyester manufacturing and recycling complex with an annual capacity of 100,000–250,000 tons of PET pellets. This represents a pioneering circular-economy model within the textile industry and helps contribute toward the goal of net-zero emissions by 2050.
The digital transformation and high-technology sectors are also increasingly attracting European investors. In April, Danish company LEGO Group inaugurated its second production facility in Asia, located in Vietnam and worth over US$1 billion, powered entirely by renewable energy—symbolizing the wave of European high-tech investment.
Additionally, the EU has launched a vocational education initiative focusing on green and digital skills, worth €50 million, implemented by the German GIZ and the French Expertise France, aimed at training personnel for advanced industries such as semiconductors.
Via the TAIEX (Technical Assistance and Information Exchange Instrument) mechanism, the EU has also mobilised experts from Finland and Estonia to help Vietnam amend its Law on Science, Technology, Innovation, and Digital Transformation, which was passed by the National Assembly in June. Following Typhoon Matmo, the EU activated the emergency satellite-mapping system ECHO Copernicus to assist in damage assessment and disaster response.
The EU Ambassador to Vietnam, Julien Guerrier, emphasised that Vietnam has the potential to become a regional hub for connectivity, artificial intelligence and cybersecurity. He noted that the Global Gateway strategy stands out because it promotes investment in high-quality infrastructure compliant with social and environmental standards. “Vietnam is an ideal partner because it shares the EU’s vision for green growth and inclusive digital economy,” he said.
According to the Q3 2025 Business Confidence Index (BCI) report released on 14 October by the European Chamber of Commerce in Vietnam (EuroCham), half of the companies surveyed said they were aware of the EU Green Deal, although only 7% were directly involved in related mechanisms. The awareness level of Vietnam’s National Green Growth Strategy 2021-2030 reached 43%, while about one-fifth of companies are participating in and benefiting from support programmes focused on energy efficiency and innovation.
The EU views Vietnam as a crucial link in Southeast Asia’s digital value chain, thanks to its technological workforce, open policies, and strategic geographical location. Beyond mere investment, the objective is also to help Vietnam refine its legal framework for data in line with European standards (similar to the General Data Protection Regulation), thus building trust and safeguarding consumers in the digital economy.
Source: VnExpress
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