PM pledges green growth, urges EU members to ratify EVIPA

Prime Minister Pham Minh Chinh reaffirmed the Vietnamese Government's commitment to rapidly resolving obstacles for foreign investors and welcomed European firms to join the country’s high-growth, green transition agenda during a working session with the EU-ASEAN Business Council (EU-ABC) and the European Chamber of Commerce in Vietnam (EuroCham) on November 27.

Hosting the delegation led by EU-ABC Chairman Jens Rübbert and EuroCham Chairman Bruno Jaspaert, PM Chinh congratulated EuroCham on the successful organisation of the Green Economy Forum 2025 (GEF 2025) in Hanoi on the occasion of Vietnam and the European Union (EU) celebrating the 35th anniversary of diplomatic relations.

The PM highlighted the dynamic and substantive development of the Vietnam-EU relationship across many sectors. He reported that bilateral trade in the first nine months of 2025 reached 54.6 billion USD, marking an 8.4% increase year-on-year. Furthermore, the EU remains Vietnam's seventh-largest foreign investor, with 2,743 valid projects and a total cumulative registered capital approaching 32 billion USD as of September 2025.

He announced that both sides are actively discussing a roadmap for upgrading their relationship to a Comprehensive Strategic Partnership - a move that is expected to create a new framework strongly boosting trade and investment cooperation in the coming period.

Sharing Vietnam’s development outlook, PM Chinh stated that the country aims to become a developing nation with modern industry and upper-middle income by 2030, and a high-income developed nation by 2045. Vietnam's economy continues its positive momentum, with projected GDP growth exceeding 8% in 2025, laying a solid foundation for achieving double-digit growth rates in the 2026-2030 period and beyond.

The national strategy, he stressed, relies on science, technology, and innovation, alongside three strategic breakthroughs: infrastructure, institutions, and high-quality human resources. He invited European businesses to participate in Vietnam’s "game-changing, status-transforming" projects that aim to facilitate effective investment.

Expressing their deep sympathy to the Vietnamese people affected by recent floods, EU-ABC Chairman Jens Rübbert and EuroCham Chairman Bruno Jaspaert noted that the EU had provided 850,000 EUR in support, supplemented by an 88,000 USD donation from the European business community in Vietnam.

The European leaders praised Vietnam’s increasingly important role on the global stage and its significant economic achievements despite worldwide difficulties. Crucially, they celebrated the expected official upgrade of Vietnam’s stock market status by global index provider FTSE Russell from a frontier market to a secondary emerging market, to take effect in September 2026. This upgrade is expected to generate profound effects on FDI inflows and the development of the capital market.

European businesses reaffirmed their commitment to promoting cooperation and investment, particularly in areas where the EU holds a comparative advantage, such as science and technology, digital transformation, and the green energy transition, contributing to Vietnam's independent and self-reliant economy.

Acknowledging the spirit of cooperation, PM Chinh urged the EU and its business community to coordinate effectively in implementing the EU-Vietnam Free Trade Agreement (EVFTA) and further opening markets to each other. He also asked for enhanced cooperation in areas of EU strength, including green transition, digital transformation, clean agriculture, and high-quality human resources training.

To create a new breakthrough in investment, the cabinet leader suggested European companies raise their voice to urge the remaining seven EU member states to complete the ratification of the EU-Vietnam Investment Protection Agreement (EVIPA).

Finally, he called on the business community to advocate for the European Commission (EC) to promptly lift the “yellow card” warning on Vietnamese seafood exports, acknowledging Vietnam’s significant efforts in this area and ensuring a stable supply for the EU market./.