64.6 is the score recording the business confidence index of European enterprises in the first quarter of 2025.

This index reflects an optimistic but cautious picture of European businesses operating in Vietnam. And at the recent launch of the White Book 2025, EuroCham representatives also had a short discussion with VTV reporters about the necessary strategies for Vietnam to continue to remain an attractive investment destination for European businesses in the context of fluctuating tariffs.

PV: As you know, the Trump administration has temporarily suspended reciprocal tariffs for 90 days for countries including Vietnam. And the Vietnamese government has also immediately established a negotiating team with the United States. What is your assessment of this?

Mr. Bruno Jaspaert – Chairman of the European Chamber of Commerce in Vietnam (EuroCham): We see that the Vietnamese Government and the Prime Minister have had very timely and flexible response strategies, closely following the US’s moves. The 90-day period seems long, but in my opinion, this is the minimum time needed to negotiate a new policy. I really hope that this negotiation will bring opportunities for Vietnam. European businesses investing in Vietnam are ready for taxes, but these taxes need to be moderate, creating a fair playing field for businesses.

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* In the latest BCI report, we found that the confidence index of European businesses in the first quarter of 2025 was 64.6, showing relative stability but still containing concerns. So specifically, what is the business community optimistic about and concerned about when investing in Vietnam, sir?

– European businesses all believe that Vietnam is extremely stable and clear in strategy, with many attractive policies to attract investment. Therefore, we have recorded that 3 out of 4 European businesses are willing to introduce Vietnam as a good investment destination, and one out of 4 businesses plan to expand operations this year. However, it must be clear that investment expansion always goes hand in hand with stability and safety. When the US tariff policy is fluctuating, one out of 4 European businesses is really worried and has taken measures to cut costs, looking for ways to maintain output but with fewer workers. However, I think this is the time when Vietnam can take advantage to expand to new markets. For example, the Free Trade Agreement with the EU (EVFTA) has been implemented for 5 years and is working quite well. This could be the time to further promote cooperation between Europe and Vietnam.

*In the current context, what do you think Vietnam needs to improve to attract more new FDI capital?

– Vietnam currently holds many advantages that not every country has: abundant natural resources, abundant labor force and the Government always accompanies businesses on every development journey. With these advantages, in my opinion, there are 5 strategic priorities that Vietnam needs to improve to enhance the transparency, efficiency and attractiveness of the Vietnamese business environment. These are: Visa policy; Immigration procedures and airport infrastructure; Work permits; Value Added Tax (VAT) refunds; Customs procedures.