10 companies and 4 business support organizations from 4 EU countries, including Belgium, Estonia, Spain and Croatia, were visiting Vietnam on 19th-22nd March 2024, to discover business opportunities, both with private and public sector, under the EU-funded project GOOSE.

Under the leadership of Flanders invest and trade office in Hanoi, an exciting 3-days program full of B2B meetings, networking opportunities, seminars, company visits and meetings with ministries and local authorities was organized to make new connections and learn about this promising and emerging market.

There are opportunities for EU companies in sectors prioritized by the government, e.g. agtech, electric vehicles, healthcare, urban development, energy and green transition – in a country that is one of the world’s five most vulnerable countries to climate change.

„The purpose of this mission was specifically to demonstrate to companies the opportunities of public procurement in free trade agreements. This mission was an excellent opportunity to exchange best practices within the focus sectors. No less than 39% of Vietnam’s GDP consists of public procurement“, Eve Devoldere, Trade & Investment Counselor Flanders said.

Here are some of the key takeaways:

• EVFTA (free trade agreement with EU) brings great opportunities
• Vietnam legal and business environment is quite complicated and it requires patience and presence in the country
• Investing and trading for SMEs might be more complicated than for large companies
• Partnering with a trusted local entity/individual is key for succeeding
• In the last two years, the administrative procedures have become more burdensome as a consequence of the anti-corruption campaign

There were some great contributions and presentations from many  speakers and guests during a public procurement seminar held in Pan Pacific hotel on 20th March: Public Procurement Agency – Ministry of Planning and Investment, World Bank, Baker
McKenzie Vietnam, Foreign Trade University, MLR – Constantin Advisory, to name a few.

Companies also had a wonderful opportunity to network with more than 20 Vietnam Software & IT Services Association (VINASA) members. VINASA holds a significant influence in the Vietnamese IT industry. By engaging with VINASA, companies can tap into a valuable network of key players in the Vietnamese tech sector, fostering potential partnerships, market insights, and opportunities for EU IT businesses to expand and collaborate in Vietnam.

Delegation also visited FPT headquarters in Hanoi, the largest information technology service company in Vietnam with its core business focusing on consulting, providing technology and telecommunications services.

Meetings were held with Asian Development bank (ADB) and German Corporation for International Cooperation (GIZ).

This mission was organized under EU-funded project GOOSE.