Global Gateway in Vietnam: Commissioner Síkela promotes European investment with new focus on transport

European Commissioner for International Partnerships, Jozef Síkela, wrapped up a visit to Hanoi, leading a delegation of European companies to boost EU investment in Vietnam. Building on the recently upgraded Comprehensive Strategic Partnership, Commissioner Síkela announced during his mission that the European Union and Vietnam will invest over €560 million in sustainable transport and clean energy to create jobs and boost sustainable economic growth while reducing pollution, in line with the EU Global Gateway strategy. For Vietnam, this means modern infrastructure, reliable energy and new jobs. For Europe, it means stronger partnerships, new markets and more resilient supply chains. The Commissioner announced the package at the EU-Vietnam Global Gateway Business and Investment Forum he opened together with European Investment Bank Vice-President, Nicola Beer.

Commissioner Síkela said: "The €560 million investment package shows how the partnership between the European Union and Vietnam delivers on what matters: creating jobs and boosting economic growth while reducing pollution. We invest together with European and Vietnamese companies in sustainable, modern transport and clean energy. This is how Global Gateway turns partnership into practical results: a cleaner energy system and easier transport connections for Vietnam, new opportunities and a more resilient economy for Europe."

The Commissioner's visit to Vietnam came at an important moment, following the recent upgrade of EU-Vietnam relations to a Comprehensive Strategic Partnership. The focus now was to turn this into concrete projects and business opportunities:

Sustainable transport

The €40 million Sustainable Transport Facility launched by the EU will support Vietnam in advancing massive public transport investment plans for the next years. It will provide European expertise, technology and know-how. The aim is to develop at least 4 large-scale public infrastructure projects nationally or in major cities, primarily dedicated to railways, such as the Hanoi-Ho Chi Minh City high-speed rail project, but also on inland waterways and urban mobility. The initiative is expected to leverage more than €1 billion of concessional loans from European Development Banks and involve European private sector.

The European Union has already collaborated with Vietnam on modern transport, building the extension of Hanoi's Metro Line 3, to help reduce congestion and improve mobility for citizens. Also, European companies will support the upcoming development of the Lien Chieu container port in Da Nang.

Clean energy

As a leading member of the Just Energy Transition Partnership, the EU supports Vietnam's Vietnam's robust low-carbon economic growth.

European Development Banks signed loan agreements totalling €230 million to support Electricity Vietnam for the Bac Ai project, Vietnam's first pumped storage hydropower plant. The plant will act like a giant battery for the power grid, storing energy when it's abundant and releasing it when it's needed most, delivering clean, reliable electricity to communities. The signed investment is part of a comprehensive package close to €400 million delivered in a Team Europe approach, bringing together the European Commission, AFD (Agence Française de Développement), PROPARCO, Cassa Depositi e Prestiti (Italy's national promotional institution), the European Investment Bank, and KfW (the German development bank).

The EU is also working with Vietnam under regional cooperation initiatives such as ASEAN Power Grid to promote energy resilience across South-East Asia.

Further announcements include:

• a €23 million top-up of the Energy Transition Facility to boost investments in clean energy, sharing European expertise, technology and know-how;
• a €20 million sustainable forest management programme;
• a €50 million programme with Germany and France to develop Technical and Vocational Education and Training centres of excellence and enhance green and digital skills for Vietnamese people to succeed in today's jobs.

Business and investment deals

The EU-Vietnam Global Gateway Business and Investment Forum saw a number of deals between European and Vietnamese businesses announced, with total investments in the areas of transport and connectivity, logistics, digital health and industrial development.

In addition, the European Investment Bank (EIB) Global and Vietnam's leading private bank Techcombank announced a €200 million financing agreement to support the Vietnamese private sector's projects, particularly on solar and wind power, energy efficiency improvements and electric mobility.

The Forum brought together companies from Europe and Vietnam, investors and public partners to launch new investments in clean energy and sustainable transport.

In Hanoi, the Commissioner met high-level political counterparts, including Vietnam's Deputy Prime Minister, Bùi Thanh Sơn; Minister of Foreign Affairs, Lê Hoài Trung; Minister of Agriculture and Environment, Trần Đức Thắng; and Vice-Minister of Construction,Bui Xuan Dung.

Launch of the White Book

As multi-billion-euro investment commitments took center stage at the Forum, the European Chamber of Commerce in Vietnam (EuroCham) launched the 17th edition of its Whitebook, the flagship publication to support the effective and sustainable deployment of these landmark investments.

The 2026 edition, titled "Reform & Uplift: A New Era for Vietnam in the Global Economy", offers policy recommendations rooted in business realities. They complement Vietnam's ongoing reform efforts in reinforcing the transparent, predictable, and efficient regulatory environment required to translate investment commitments into tangible socio-economic outcomes.

About Global Gateway

Global Gateway is the EU's positive offer to reduce the worldwide investment disparity and boost smart, clean and secure connections in digital, energy and transport sectors, and to strengthen health, education and research systems.

The Global Gateway strategy embodies a Team Europe approach that brings together the European Union, EU Member States, and European development finance institutions. This approach aims to mobilise up to €400 billion in public and private investments from 2021 to 2027, creating essential links rather than dependencies, and closing the global investment gap.

For More Information

EU-Vietnam partnership

EU-Vietnam Global Gateway business and investment forum

Global Gateway - European Commission