Vietnam leads ASEAN for European business expansion plans

A recent annual survey by the EU-ASEAN Business Council (EU-ABC), involving approximately 150 European business leaders, identifies Vietnam as the top ASEAN market for planned business expansion. According to the findings, 64% of respondents intend to expand operations in Vietnam, the highest percentage among the six major ASEAN markets surveyed.

Other markets ranked in the survey include Indonesia at 57%, followed by Malaysia and Thailand at 49%, Singapore at 44%, and the Philippines at 43%. Additionally, 78% of participants plan to expand activities in at least one ASEAN market, with Vietnam and Indonesia remaining the primary destinations.

The survey highlights a positive economic outlook for the region, with 78% of respondents forecasting an increase in trade and investment within ASEAN over the next five years. For the fourth consecutive year, ASEAN has been rated as providing the greatest economic opportunities compared to other major emerging economies, such as China and South Asia.