With a score of 80—the highest in seven years, the Business Confidence Index (BCI) from the European Chamber of Commerce in Vietnam (EuroCham) for Q4 2025 confirms the unwavering trust European enterprises place in Vietnam.
This recovery solidifies Vietnam’s position as a strategic investment destination and a leading regional growth engine.
EuroCham released its BCI for the fourth quarter of 2025 on January 13, which marks a clear shift, signaling that strengthened confidence is now becoming a primary driver for expansion and investment decisions in the coming period.
Surge in optimism
After years of navigating international volatility and disruptions, the Q4 2025 BCI indicated that sentiment among European businesses in Vietnam has returned to a positive growth zone. This score surpasses levels recorded both prior to the imposition of US tariffs and before the COVID-19 pandemic.
The report identified this as one of the strongest quarterly increases since the BCI was first launched in 2011. It reflected a distinct and uniform improvement in both the assessment of current business conditions and expectations for the future.
In Q4 2025, 65% of surveyed enterprises rated their current business situation as positive. This optimism is expected to build further momentum heading into the new year, with the percentage rising to 69% when looking toward Q1 2026.
Notably, actual business conditions in Q4 2025 significantly outperformed previous expectations. In the Q3 2025 survey, only 56% of businesses predicted that conditions in Q4 would be positive.
Driven by macroeconomic momentum
This trend closely mirrors Vietnam’s macroeconomic recovery and acceleration. Vietnam’s GDP growth in Q4 2025 reached 8.46%—the fastest quarterly growth rate since Q4 2007—surpassing the forecasts of many major international organizations.
“Our latest BCI confirms what many of us have felt intuitively,” said EuroCham Chairman Bruno Jaspaert. “After years of hovering around the mid-line, reaching 80 tells us that confidence is now grounded in delivery – in factories running, orders returning, and investments being executed. We are seeing a structural shift where Vietnam is quickly transforming itself into a powerful growth engine, on track to rank among the top three economies in ASEAN.”
Beyond short-term gains, the Q4 2025 BCI revealed exceptionally strong confidence in Vietnam’s medium-term outlook. An overwhelming 88% of respondents expressed optimism about their organisation’s prospects in Vietnam over the 2026–2030 period, including 31% who described themselves as “very optimistic”.
“88 may sound like a lucky number, but it is much more than a fortune cookie: for our members, it is a rational one. Over the next five to seven years, provided it plays its cards right, Vietnam is destined to become the place to be, rising to enter a golden era of growth and transformation," Mr. Jaspaert noted.
This confidence is further bolstered by strong business performance. In 2025, 60% of enterprises reported improved results compared to 2024. Furthermore, optimism remains high for the future, with 82% of businesses expecting their performance to continue growing in 2026.
Vietnam’s appeal is also reinforced by vocal support from the business community. An impressive 87% of companies expressed their willingness to recommend Vietnam as a prime investment destination to other foreign firms, with the highest level of confidence recorded among large-scale enterprises.
Strategic priorities for 2026
The report noted that as market confidence solidifies, European businesses are entering 2026 with increasingly clear strategic priorities. Expansion and portfolio diversification top the list, cited by 50% of respondents as their primary focus.
Human resources remains the second-highest priority, with 45% of businesses focusing on recruitment and talent retention. This reflects persistent pressure in securing high-quality labor and underscores the pivotal role of human capital in maintaining sustainable growth momentum.
In parallel, technology integration, automation, and Artificial Intelligence (AI) are prioritized by 41% of enterprises. This highlights a strategic shift toward enhancing efficiency, productivity, and long-term competitiveness in an increasingly digital landscape.
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