Based on responses from 150 European business leaders, Indonesia ranked second with 57%, followed by Malaysia and Thailand at 49% each, Singapore at 44%, and the Philippines at 43%.
The figures reflect Vietnam’s growing appeal as European companies map out their business strategies in Southeast Asia.
The survey also found that 78% of respondents expect trade and investment in ASEAN to increase over the next 5 years, up from 71% in 2025. An equal 78% said they plan to expand into at least one ASEAN market, with Vietnam and Indonesia being the two top destinations.
European interest in Vietnam is particularly reflected in growing investment in high-tech industries. German technology group Bosch has made Vietnam its second-largest software development hub after India. The company has invested nearly 580 million USD in factories, production lines, and software centers in Vietnam. Its Bosch Global Software Technologies center in Ho Chi Minh City currently employs 3,000 software engineers.
Andre De Jong, CEO of Bosch Vietnam, said: "Our focus on this high-tech value chain is driven by Vietnam's vibrant and youthful workforce, characterized by strong technical capabilities and their digital fluency."
Vietnam and the EU recently upgraded their relationship to a Comprehensive Strategic Partnership. The new framework is expected to create greater opportunities for cooperation in trade, investment, digital transformation, science, and technology.
EU Ambassador to Vietnam Julien Guerrier said: "This upgrading to comprehensive and strategic partnership between the EU and Vietnam first reflects the maturity of our relationship, but it also reflects the changing international and regional context and the level of ambition that we have for the long-term development of our partnership. Vietnam has become our first trading partner in the region, the 16th trading partner of Europe globally."
The Comprehensive Strategic Partnership and the EU-Vietnam Free Trade Agreement (EVFTA) are expected to give Vietnam opportunities to strengthen its position as one of the most preferred investment and business destinations for European companies in Southeast Asia.
