European firms eye investments in finance, semiconductors, AI in Vietnam

European companies are keen to expand investment in Vietnam across a wide range of sectors, including finance, textiles, climate change mitigation, carbon and methane emissions reduction, pharmaceuticals, biotechnology, semiconductors, data infrastructure, and AI.

Company executives from Europe, including those from Sweden, made the statement at a meeting with Prime Minister Pham Minh Chinh in Hanoi on Tuesday. They said they view Vietnam as an attractive investment destination and are pursuing long-term cooperation strategies.

The companies called on the Vietnamese Government to continue supporting long-term investment by European firms through open, stable and incentive-based policies, streamlined administrative procedures, and the development of supporting ecosystems and services to help optimize investment efficiency.

Philipp Rösler, former German Vice Chancellor and now chairman of the Swiss-Vietnam Economic Forum, praised Vietnam’s development strategy, including its ambition to build an international financial center and achieve double-digit economic growth in the coming years. He said businesses stand ready to cooperate and support Vietnam in realizing these goals.

Prime Minister Chinh said Vietnam is committed to further improving the business environment, maintaining political stability, accelerating digitalization, cutting red tape, reducing input and compliance costs, boosting labor productivity, and safeguarding the legitimate rights and interests of investors.

He outlined Vietnam’s priorities in clean energy development, including wind, solar and nuclear power, as well as sustainable agriculture initiatives such as a one-million-hectare low-emissions, high-quality rice program in the Mekong Delta. Vietnam is also developing a carbon market and promoting green transport through greater adoption of electric vehicles.

The cabinet leader said Vietnam offers strong incentives to develop its semiconductor industry and is already building chip manufacturing facilities, while targeting the training of between 50,000 and 100,000 semiconductor engineers by 2030. The country is also accelerating the development of national and sectoral databases to support AI applications.

He highlighted Vietnam’s potential and preferential policies in sectors such as pharmaceuticals, biotechnology, ecological agriculture, and the development of modern rural areas, alongside plans to establish an international financial center, free trade hubs, and cross-border economic cooperation zones.

Chinh urged Swiss and European companies to step up both direct and indirect investment, transfer technology, train human resources, share management expertise, invest in R&D, and support Vietnamese firms’ participation in global value and supply chains.

He called on Swiss and European businesses to back Vietnam’s efforts to build an international financial center, encourage remaining European Union member states to ratify the EU-Vietnam Investment Protection Agreement (EVIPA), and support the European Commission’s removal of its “yellow card” warning on Vietnam’s seafood exports.

Vietnam, he said, welcomes greater cooperation in green and digital transformation, renewable energy, the marine economy, green finance, sustainable finance and tourism, as part of its broader push for long-term, sustainable development aligned with international ESG standards.