HANOI: Vietnam has emerged as the most attractive destination in Asean for European businesses looking to expand, with nearly two-thirds of surveyed firms planning to increase their presence in the country over the next five years, Vietnam News Agency (VNA) reported.
In the EU-Asean Business Council’s 12th Business Sentiment Survey released recently, 64 per cent of respondents said they planned to expand in Vietnam, ahead of Indonesia at 57 per cent, Malaysia and Thailand at 49 per cent each, Singapore at 44 per cent and the Philippines at 43 per cent.
The survey, which gathered responses from around 150 European business leaders, also pointed to stronger expectations for trade and investment across Asean.
Some 78 per cent expect their companies’ trade and investment in Asean to increase over the next five years, up from 71 per cent in 2025.
Meanwhile, 78 per cent of respondents said they planned to expand operations in at least one Asean market, with Vietnam and Indonesia continuing to be the top two destinations.
For the fourth consecutive year, Asean was seen as offering the strongest economic opportunities, cited by 61 per cent of respondents, up from 56 per cent last year, according to the survey.
European businesses have shown a firm commitment to Asean, with investment appetite increasing as most companies plan to expand within the region, said executive director of the EU-Asean Business Council Chris Humphrey.
Despite the positive outlook, Asean's trade and investment environment continues to face challenges. Some 81 per cent of respondents said uncertainty surrounding US tariff policies had made them at least somewhat less confident about operating in Asean. - Bernama-VNA
