Senior officials and business leaders attend the EU–Việt Nam Business and Investment Forum on the Global Gateway Strategy. — Photo courtesy of the organiser

HÀ NỘI — The European Union (EU) remains one of Việt Nam’s leading economic partners, playing an increasingly important role in trade, investment and sustainable development, Deputy Prime Minister Hồ Đức Phớc said on Tuesday.

Speaking at the EU–Việt Nam Business and Investment Forum in Hà Nội, themed 'Global Gateway Strategy: Investment Cooperation for a Sustainable Future', Phớc noted that bilateral ties expanded significantly over the past three decades.

The event, jointly organised by the EU Delegation to Việt Nam, the Foreign Investment Agency under the Ministry of Finance and the European Chamber of Commerce in Việt Nam (EuroCham), gathered around 500 representatives from government agencies, financial institutions and businesses.

He highlighted the importance of the EU–Việt Nam Free Trade Agreement in boosting two-way trade and investment, helping maintain steady growth in bilateral turnover and strengthening the presence of European enterprises in Việt Nam.

Amid global uncertainties, Phớc stressed the need to reinforce multilateral cooperation, promote fair trade and advance sustainable development. He described the EU as a trusted long-term partner and confirmed Việt Nam’s intention to deepen cooperation across sectors.

The deputy PM called on the EU to enhance support for Việt Nam in accessing green finance, facilitating technology transfer and attracting high-quality investment in key areas including renewable energy, the green and digital economies, semiconductors and strategic infrastructure.

He also urged EU member states to accelerate ratification of the EU–Việt Nam Investment Protection Agreement, which would help complete the legal framework and boost investor confidence.

Participants said the forum served as both a policy dialogue platform and a practical bridge to turn commitments into concrete projects in priority sectors.

A key highlight was the EU’s announcement of an investment package worth over 560 million euros (about US$650 million) for Việt Nam. The package focuses on sustainable transport and clean energy, aiming to create jobs, support economic growth and reduce pollution in line with the EU’s Global Gateway strategy.

European Commissioner for International Partnerships Jozef Síkela said the investment demonstrated how EU–Việt Nam cooperation delivered tangible outcomes.

“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 improved transport connections for the future,” he said.

A 200 million euro ($232 million) financing agreement between EIB Global and Techcombank was announced during the EU–Việt Nam Global Gateway Business and Investment Forum in Hà Nội. — Photo courtesy of the organiser

European Investment Bank (EIB) Vice-President Nicola Beer said the bank was supporting Việt Nam’s transition to cleaner energy and better transport through concrete financing.

She highlighted a newly announced 200 million euro ($232 million) agreement with Techcombank to expand access to finance for private businesses, particularly small and medium-sized enterprises, in areas such as renewable energy, energy efficiency and electric mobility.

Síkela’s visit comes at a significant moment following the recent upgrade of EU–Việt Nam relations to a Comprehensive Strategic Partnership, with a focus on translating commitments into practical projects and business opportunities.

As part of the Global Gateway initiative, the EU also launched a 40 million euro ($46 million) Sustainable Transport Facility to support Việt Nam’s long-term public transport development plans.

The programme will provide European expertise, technology and know-how, with the goal of developing at least four large infrastructure projects nationwide or in major cities.

These are expected to focus primarily on railways, including the proposed Hà Nội–HCM City high-speed railway, as well as inland waterways and urban mobility. The initiative is anticipated to mobilise more than 1 billion euros ($1.2 billion) in concessional loans from European development banks while encouraging private sector participation.

The EU has already cooperated with Việt Nam on modern transport projects, including the extension of Hà Nội’s Metro Line 3 to help ease congestion and improve urban mobility. European companies are also expected to support the development of the Liên Chiểu container port in Đà Nẵng.

In the energy sector, as a leading partner in the Just Energy Transition Partnership, the EU continues to support Việt Nam’s low-carbon growth.

European development banks have signed loan agreements totalling 230 million euros ($267 million) with Electricity of Việt Nam for the Bắc Ái pumped storage hydropower project, the country’s first of its kind. The facility will function as a large-scale energy storage system, helping balance supply and demand and ensuring reliable electricity.

The project forms part of a broader financing package of nearly 400 million euros ($464 million) under a 'Team Europe' approach, bringing together the European Commission and major European financial institutions, including AFD, PROPARCO, Cassa Depositi e Prestiti, the EIB and KfW.

Beyond bilateral initiatives, the EU is also working with Việt Nam through regional frameworks like the ASEAN Power Grid to enhance energy connectivity and resilience across Southeast Asia.

The forum also witnessed a number of agreements between European and Vietnamese businesses in sectors including transport and connectivity, logistics, digital health and industrial development.

Notably, the EIB and Techcombank formalised a 200 million euro ($232 million) financing agreement aimed at supporting private sector projects, particularly in renewable energy, energy efficiency and electric mobility.

As large-scale investment commitments take centre stage, EuroCham used the occasion to launch the 17th edition of its Whitebook. The 2026 report, titled 'Reform and Uplift: A New Era for Việt Nam in the Global Economy', provides policy recommendations based on business insights, supporting Việt Nam’s efforts to strengthen a transparent, predictable and efficient regulatory environment.

These recommendations are intended to help translate investment pledges into tangible socio-economic outcomes, reinforcing Việt Nam’s position as an attractive destination for high-quality foreign investment.

Global Gateway is the EU’s flagship initiative to narrow the global investment gap and promote smart, clean and secure connections across digital, energy and transport sectors, while strengthening health, education and research systems. — VNS