Vietnam, ASEAN markets offer huge opportunities for European firms
Vietnam, Malaysia and Thailand are the most attractive expansion destinations for European corporates, according to a recent survey conducted by Standard Chartered Bank.
Vietnam, ASEAN markets offer huge opportunities for European firms. - Illustrative image (Photo: AFP/VNA)
Hanoi (VNA) – Vietnam, Malaysia and Thailandare the most attractive expansion destinations for European corporates, according to a recent surveyconducted by Standard Chartered Bank.
The survey said 88 percent of respondents expectbusiness to go up in the next 12 months, on drivers such as a growing consumermarket; free trade agreements; and a reliable supply base.
In terms oftarget markets within ASEAN, 60 percent of survey respondents are focusing onexpanding in Vietnam to capture sales and production opportunities, followed byMalaysia (53 percent) and Thailand (48 percent).
The survey said that theEurope-AESEAN corridor could enable growth in six high-potential sectors,including pharmaceuticals production, consumption of consumer goods, automotiveindustry, green and digital solutions, renewable and clean energy ande-commerce.
The optimistic outlook came even as 75 percent of respondents cited theirunderstanding of regional regulations, payments and infrastructure as asignificant medium-term barrier.
Robert Newell, managing director forEurope global corporates at StandardChartered Bank said that the ASEAN marketscontinue to offer huge opportunities for European companies, both for thoselooking to diversify and expand their investment and trade activities, andthose who are well aware of the deep technological expertise and significant consumerbase across the markets.
Vietnam’s economic developmentdrivers are still maintained despite of severe impacts of the COVID-19pandemic.
The country’s General Statistics Office announced that Vietnam’s GDP increased by5.64 percent in the first six months of 2021./.
Vietnam treasures the comprehensive cooperative partnership with the European Union (EU) and stays ready to discuss and cooperate with the EU on human rights issue in a straightforward, open and respectful manner to increase mutual understanding via the annual human right dialogue mechanism and other bilateral exchange frameworks, said Foreign Ministry’s spokesperson Le Thi Thu Hang.
John Cockerill, a leading Belgian group in developing large-scale technological solutions, said it wants to transfer the technology of activated carbon production from coconut shells and coir to Vietnam.
The multinational financial group HSBC held a webinar on July 1 to introduce business opportunities in the Association of South East Asian Nations (ASEAN) for European Union and UK businesses.
Over three tonnes of Bac Giang lychees meeting GlobalGAP standard recently passed customs clearance at Frankfurt airport, Germany thanks to a transaction via the Vietnamese e-commerce platform Voso.
The handover ceremony was held at the Malaysian Embassy headquarters in Mexico City on August 8, with the presence of heads of diplomatic missions from ASEAN member states in Mexico.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Vietnam, ASEAN markets offer huge opportunities for European firms. - Illustrative image (Photo: AFP/VNA) 
