European officials revealed that European Commission Chief Ursula von der Leyen and French President Emmanuel Macron are both considering plans to visit Vietnam in the coming months. These trips are not only to promote trade and investment cooperation but also promise to be ready to support Vietnam in many important areas. What does Europe want from Vietnam? Over the years, the US has strengthened cooperation with Vietnam, considering it an important partner in its regional strategy. However, in the event that President Donald Trump implements trade policy adjustments, including the possibility of imposing tariffs on Vietnamese goods due to a large trade surplus, bilateral economic relations may suffer certain impacts. In this context, the EU is accelerating its approach to Vietnam. Ms. von der Leyen sent a video message to the ASEAN Summit in Hanoi last week, stressing that: “The wave of tariffs and export controls is rising… We want to create new opportunities for trade and investment with trusted partners." According to diplomatic sources, Mr. Macron may visit Vietnam in late May to promote bilateral relations, while Ms. von der Leyen may come earlier to officially upgrade bilateral relations. In addition, EU Trade Commissioner Maros Sefcovic is expected to visit Vietnam in April, ahead of the two leaders. With the EU-Vietnam Free Trade Agreement (EVFTA) now in effect, the EU is now Vietnam’s third-largest export market, with imports from Vietnam reaching $52 billion last year. That’s still less than half of what the US has to offer, but if Washington imposes tariffs, Vietnam could boost exports to Europe as an alternative. Vietnam – An important link Beyond trade, European companies are also eyeing the Vietnamese market for new investment opportunities. Vietnam is increasing public spending on infrastructure, especially on major railway projects – an area where many European companies are vying for contracts. On the development cooperation front, according to Reuters, Europe is also looking to fill the void left by the Trump administration’s cuts in foreign aid. One notable example is Belgium’s fund to help restore areas contaminated by Agent Orange during the Vietnam War. Reuters quoted Belgian Ambassador to Vietnam Karl Van den Bossche as saying that the plan aims to turn polluted lands into profitable industrial zones, both overcoming the consequences of war and promoting economic development. According to the Business Confidence Index (BCI) survey of the European Chamber of Commerce in Vietnam (EuroCham), Europe highly appreciates the investment environment in Vietnam. The EuroCham Business Confidence Index (BCI) has recently recorded significant improvements, increasing to 61.8 points at the end of the fourth quarter of 2024 - the highest level in nearly three years. This reflects the optimism of European investors towards Vietnam’s efforts to improve the investment and business environment. In addition, 56% of businesses believe in Vietnam’s positive growth prospects in the first quarter and the whole year of 2025. Regarding investment, 75% of EuroCham businesses consider Vietnam an attractive destination and are ready to introduce Vietnam as a strategic investment option. With the above moves, it can be seen that Vietnam is gradually becoming an important link in Europe's economic and political strategy. Amidst fluctuations in global trade, the EU not only wants to expand cooperation with Vietnam but also take advantage of Vietnam's position to reduce its dependence on the US market.