Vietnam is emerging strongly as a manufacturing hub and strategic partner in the global supply chain. In the context of geopolitical instability and increasingly fierce trade competition, Vietnam's role is no longer limited to a low-cost manufacturing destination, but is transforming into an important link in shaping the new trade order.

In 2024 alone, Vietnam achieved a trade surplus of more than 123 billion USD with the US, and exports to Europe increased sharply after nearly 5 years of implementing the EVFTA. Vietnam has also become a destination for the "China +1" supply chain shift, attracting leading corporations such as Samsung, Foxconn, Apple, Intel, and partners in the fields of rare earths, renewable energy, textiles and agricultural products.

Recently, when the US imposed a 46% tax and restarted its protectionist trade strategy, Vietnam has become an indispensable partner in trade balance negotiations and ensuring uninterrupted supply chains. The multi-billion dollar bilateral agreements signed show that Vietnam is not only a producer, but also a voice, capable of negotiating and regulating interests among the major powers.

In this context, the European Union – and especially Central and Eastern European countries such as the Czech Republic and Slovakia – need to reassess their cooperation strategy with Vietnam. This is a golden time to promote trade, investment, technology and innovation links:

• Vietnam is the gateway to ASEAN – a region of 680 million people with the fastest growth rate in the world.
• A reliable alternative manufacturing hub for Europe, helping to diversify supply chains and reduce risks from China.
• Possessing a young, highly skilled workforce, political stability and a strong commitment to sustainable development.

In particular, with traditional friendship and the Vietnamese community in the Czech Republic and Slovakia, bilateral cooperation has a solid foundation for expansion. Many businesses from both countries have already begun to seize the opportunity – such as the Škoda project in Vietnam – but the door is still wide open for sectors such as energy, machinery, healthcare, agricultural products, defense technology, and logistics.

In a world that is reshaping the “rules of the game” of trade, Vietnam is no longer a small, growing market – but a strategic, reputable partner, with the potential to become a hub connecting the interests of East and West. The EU, the Czech Republic and Slovakia – if they want to stay ahead of the curve – need to act soon to not miss this golden opportunity.