European Firms Eye Vietnam for ASEAN Expansion: Top Destination in Survey

Vietnam has emerged as the most attractive destination for European companies seeking to expand their operations within the Association of Southeast Asian Nations (ASEAN), according to the latest annual survey by the EU-ASEAN Business Council (EU-ABC). The survey, which polled approximately 150 European business leaders, found that 64% of respondents plan to expand their operations in Vietnam. This figure is the highest among the six major ASEAN markets covered in the survey. Indonesia ranked second with 57%, followed by Malaysia and Thailand at 49% each, Singapore at 44%, and the Philippines at 43%. These results come as ASEAN continues to be highly regarded by European businesses for its economic prospects. A significant 78% of European companies surveyed predict that trade and investment in ASEAN will increase over the next five years, an improvement from 71% in 2025. Furthermore, 78% of respondents plan to expand their activities in at least one ASEAN market, with Vietnam and Indonesia remaining the top choices. This marks the fourth consecutive year that ASEAN has been identified as the region offering the greatest economic opportunities compared to other major emerging economies. Vietnam's prominence as a primary target for European expansion within ASEAN underscores its robust economic growth and the effectiveness of its policies in attracting foreign investment.