The European Union (EU) and Vietnam will invest over €560 million in sustainable transport and clean energy to create jobs and boost sustainable economic growth while reducing pollution in Vietnam, in line with the EU Global Gateway strategy.

European Commissioner for International Partnerships, Jozef Síkela, announced the package at the EU-Vietnam Global Gateway Business and Investment Forum in Hanoi. He is accompanied by European companies and development banks, including the Vice-President of the European Investment Bank, Nicola Beer.

Commissioner Síkela said: “The €560 million investment package shows how the partnership between the European Union and Vietnam delivers on what matters most: boosting economic growth while reducing pollution. We invest together with Vietnamese companies in sustainable, modern transport and clean energy. This is how Global Gateway turns partnership into practical results: jobs, stronger growth, a cleaner energy system and easier transport connections for the future.”

European Investment Bank Vice-President Nicola Beer, who oversees the Bank’s operations in Vietnam, said: “As the financing arm of the European Union, the EIB is supporting Vietnam’s transition to cleaner energy and better transport, delivering tangible benefits for people. In partnership with the European Commission, including through the Just Energy Transition Partnership, we are turning ambition into action. At the EU–Vietnam Global Gateway Business and Investment Forum, we announced a €200 million agreement with Techcombank to expand access to finance for private businesses, including SMEs, backing investment in renewable energy, energy efficiency and electric mobility. This means more jobs, lower energy bills and cleaner air for people in Vietnam.”

The Commissioner’s visit to Vietnam comes at an important moment, following the recent upgrade of EU–Vietnam relations to a Comprehensive Strategic Partnership. The focus now is to turn this into concrete projects and business opportunities.

Sustainable transport

The €40 million Sustainable Transport Facility launched by the EU will support Vietnam in advancing massive public transport investment plans for the next years. It will provide European expertise, technology and know-how. The aim is to develop at least 4 large-scale public infrastructure projects nationally or in major cities, primarily dedicated to railways, such as the Hanoi–Ho Chi Minh City high-speed rail project, but also on inland waterways and urban mobility. The initiative is expected to leverage more than €1 billion of concessional loans from European development banks and involve European private sector.

The European Union has already collaborated with Vietnam on modern transport, building the extension of Hanoi’s Metro Line 3, to help reduce congestion and improve mobility for citizens. Also, European companies will support the upcoming development of the Lien Chieu container port in Da Nang.

Clean energy

As a leading member of the Just Energy Transition Partnership, the EU supports Vietnam’s Vietnam’s robust low-carbon economic growth.

European development banks signed loan agreements totalling €230 million to support Electricity Vietnam for the Bac Ai project, Vietnam’s first pumped storage hydropower plant. The plant will act like a giant battery for the power grid, storing energy when it’s abundant and releasing it when it’s needed most, delivering clean, reliable electricity to communities. The signed investment is part of a comprehensive package close to €400 million delivered in a Team Europe approach, bringing together the European Commission, AFD (Agence Française de Développement), PROPARCO, Cassa Depositi e Prestiti (Italy’s national promotional institution), the European Investment Bank, and KfW (the German development bank).

The EU is also working with Vietnam under regional cooperation initiatives such as ASEAN Power Grid to promote energy resilience across Southeast Asia.

Further announcements include:

• a €23 million top-up of the Energy Transition Facility to boost investments in clean energy, sharing European expertise, technology and know-how;

• a €20 million sustainable forest management programme;

• a €50 million programme with Germany and France to develop Technical and Vocational Education and Training centres of excellence and enhance green and digital skills for Vietnamese people to succeed in today’s jobs.

Business and investment deals

The EU-Vietnam Global Gateway Business and Investment Forum saw a number of deals between European and Vietnamese businesses announced, with total investments in the areas of transport and connectivity, logistics, digital health and industrial development.

In addition, the European Investment Bank (EIB) Global and Vietnam’s leading private bank Techcombank announced a €200 million financing agreement to support the Vietnamese private sector’s projects, particularly on solar and wind power, energy efficiency improvements and electric mobility.

The Forum brought together companies from Europe and Vietnam, investors and public partners to launch new investments in clean energy and sustainable transport. It was opened by Commissioner Síkela and the EIB Vice-President, Nicola Beer. In Hanoi, the Commissioner is meeting high-level political counterparts, including Vietnam’s Deputy Prime Minister, Bùi Thanh Sơn; Minister of Foreign Affairs, Lê Hoài Trung; Minister of Agriculture and Environment, Trần Đức Thắng; and Vice-Minister of Construction, Bui Xuan Dung.

Launch of the EuroCham Whitebook

As multi-billion-euro investment commitments take center stage at the Forum, the European Chamber of Commerce in Vietnam (EuroCham) has officially launched the 17th edition of its Whitebook. This flagship publication serves as a timely and strategic instrument to support the effective and sustainable deployment of these landmark investments.

This morning, the Whitebook has been formally presented to Vietnam’s Vice Minister of Finance Tran Quoc Phuong, in the presence of Deputy Prime Minister Ho Duc Phoc and Commissioner Síkela. The 2026 edition, titled “Reform & Uplift: A New Era for Vietnam in the Global Economy”, offers a structured set of policy recommendations rooted in business realities. These insights are designed to complement Vietnam’s ongoing reform efforts in reinforcing the transparent, predictable, and efficient regulatory environment required to translate investment commitments into tangible socio-economic outcomes.

About Global Gateway 

Global Gateway is the EU’s positive offer to reduce the worldwide investment disparity and boost smart, clean and secure connections in digital, energy and transport sectors, and to strengthen health, education and research systems.

The Global Gateway strategy embodies a Team Europe approach that brings together the European Union, EU Member States, and European development finance institutions. This approach aims to mobilise up to €400 billion in public and private investments from 2021 to 2027, creating essential links rather than dependencies, and closing the global investment gap.

Source: EU Delegation to Viet Nam

Views: 14