Vietnam’s Industrial Growth and Market Opportunities: Basque Trade & Investment Webinar

Vietnam’s industrial resilience and long-term growth prospects were recently examined during a webinar organized by Basque Trade & Investment, with contributions from international market specialists, including Pietro Karjalainen, Co-Founder and Chief Strategy Officer (CSO) of FVSource.

Despite ongoing global uncertainty driven by shifting trade and tariff policies, particularly in major export markets, Vietnam continues to stand out as one of Asia’s most dynamic manufacturing economies. The webinar provided participating companies with an overview of Vietnam’s macroeconomic stability, industrial development, and evolving role within regional and global supply chains.

The session brought together around twenty industrial companies from the Basque Country, with discussions focusing on high value-added sectors such as machine tools and aerospace manufacturing. Vietnam was presented not only as a fast-growing domestic market, but also as a strategic platform for accessing the broader ASEAN region, offering a credible alternative for market diversification in an increasingly complex international trade environment.

Organized by Basque Trade & Investment (BasqueTrade), the internationalization agency of the Basque Government within the SPRI Group, the webinar examined key indicators underpinning Vietnam’s attractiveness. Vietnam recorded GDP growth above 7% in 2024, with forecasts pointing to growth exceeding 8% in 2025. At the same time, manufacturing output continued to expand strongly, growing by approximately 10% in the first half of 2024 compared to the same period last year, while foreign direct investment increased by around 15%.

Vietnam’s Shift Toward Advanced and Technology-Driven Manufacturing

A central theme of the webinar was Vietnam’s ongoing transition toward higher value and more technology-intensive manufacturing. By 2030, high-tech production is expected to account for approximately 45% of the country’s manufacturing output, a shift that is accelerating factory modernization and opening new opportunities for international suppliers, technology providers, and industrial service companies.

This transformation has already been observed through direct market engagement, including the on-site business mission organized by BasqueTrade and AFM in October 2024, which confirmed Vietnam’s growing relevance for the Basque machine tool sector.

During the webinar, Pietro Karjalainen (FVSource) shared insights into Vietnam’s industrial landscape, supply chain evolution, and current market dynamics, drawing on FVSource’s advisory experience supporting international manufacturers and industrial groups in Vietnam. His contribution focused on how Vietnam is positioning itself within regional and global manufacturing networks, as well as the practical considerations companies should assess when evaluating market entry or expansion strategies.

Following the presentation, a panel discussion addressed concrete business practices and opportunities in Vietnam’s machine tool industry. Panelists included representatives from Universal Alloy Corporation Vietnam and Yamazaki Mazak Vietnam, alongside Pietro Karjalainen, with the discussion moderated by Stella Ng, Project Manager at BasqueTrade’s ASEAN office.

The webinar concluded with closing remarks from Pablo Huidobro, Director of BasqueTrade ASEAN, who provided an updated overview of machine tool demand in Vietnam and insights into the regional aerospace sector, offering participating companies a current and pragmatic perspective on market trends and industrial opportunities in Vietnam and across ASEAN.