GBA Business Meeting in April: “Traversing Vietnam’s Business Environment amid Global Trade Shifts & Tariff Turbulence”
In today’s rapidly changing trade environment, tariffs are a key focus. The GBA held its Monthly Business Meeting, titled “Traversing Vietnam’s Business Environment amid Global Trade Shifts & Tariff Turbulence”, attracting 90 attendees yesterday (April 14, 2025) at Sofitel Saigon Plaza.
The session, led by GBA’s EuroCham Delegate Mr. Erick Contreras, featured three keynote speakers:
- Dr. Josefine Wallat, Consul General of Germany in Ho Chi Minh City
- Mr. Mark Gillin, Chairman of AmCham Vietnam
- Mr. Bruno Jaspaert, Chairman of EuroCham Vietnam
Industry leaders discussed the recent global trade shifts and tariff turbulence, focusing on their impact on foreign companies in Vietnam. Key topics included the geopolitical effects of the recent changes in EU and Germany’s governments and policies, Trump’s presidency and its impact on global markets and US-Vietnam relations, Vietnam’s government’s restructuring and EuroCham’s 2025 advocacy priorities.
Key Insights:
- Dr. Wallat shared in her speech the key priorities of the EU and German governments with regards to security and defense spending (in light of the Ukraine war), handling of the energy crisis to reduce inflation, managing immigration (from Ukraine and the Middle East) and driving growth measures such as lowering electricity prices, reducing tax burdens for individuals and businesses, and fixing the supply chain and other regulations. She also emphasized EU’s commitment on implementing the EU-Vietnam Free Trade Agreement (EVFTA) and the Just Energy Transition Partnership (JETP) to support Vietnam’s climate targets.
- Mr. Gillin gave a comprehensive overview and basis of Trump’s tariffs and its potential short and medium-term impacts to Vietnam, China (+1 strategy) and the global supply chain. He also offered some recommendations on what Vietnam can do to address and minimize the impacts of these recent Trump’s tariffs. Lastly, he shared his predictions on how long this current uncertainty could last based on historical accounts of similar US trade policies.
- Mr. Jaspaert focused on the recent restructuring of Vietnam’s ministries (18 to 14) and provinces (64 to 34) to hopefully improve the bureaucracy and reduce administrative burdens for current businesses and future investors. He also shared the recent EuroCham survey results showing the continued optimism from the Business Confidence Index (BCI) and perception of companies on the recent US Tariffs. Lastly, he shared EuroCham’s key advocacy priorities (“Must Win Battles”) for 2025 that were recently launched as part of the 16th edition of the EuroCham WhiteBook.
Attendees gained a comprehensive understanding of these current geopolitical developments and how these will impact their companies and operations in Vietnam. The session fostered thoughtful and forward-looking dialogue, preparing businesses to remain resilient and prosperous in this evolving landscape.
The GBA extends heartfelt thanks to the keynote speakers and all participants for their invaluable contributions, which greatly contributed to the event’s success.
