Vietnam emerges as top ASEAN destination for European business expansion

According to the Vietnam News Agency (VNA) correspondent in Southeast Asia, the EU-ABC recently surveyed around 150 European business leaders.

Specifically, 64% of respondents said they planned to expand their businesses in Vietnam, the highest proportion among the six major ASEAN markets covered in the survey.

Indonesia ranked second at 57%, followed by Malaysia and Thailand (both at 49%), Singapore (44%), and the Philippines (43%).

The results come as ASEAN continues to receive strong ratings from European businesses for its economic prospects.

Seventy-eight percent of European business representatives surveyed expect trade and investment in ASEAN to increase over the next five years, up from 71% in 2025.

Meanwhile, 78% said they planned to expand their operations in at least one ASEAN market, with Vietnam and Indonesia remaining the top two destinations.

The survey also found that ASEAN was rated as the region offering the greatest economic opportunities for the fourth consecutive year, compared with other major emerging economies.

The preference rate for ASEAN reached 61%, up from 56% previously.

According to EU-ABC Executive Director Chris Humphrey, while the global environment continues to present numerous challenges, European businesses remain strongly committed to ASEAN.

Rising investment demand, reflected in the large share of businesses planning to expand their operations in the region, demonstrates that ASEAN continues to play a vital role in business growth as companies adjust their investment and operational strategies.

Despite the positive outlook, ASEAN’s trade and investment environment continues to face numerous challenges.

81% of respondents said uncertainty surrounding U.S. tariff policies remained a major concern, undermining business confidence in ASEAN.