The seminar “Expanding Business in Belgium: A Gateway to Europe” took place in Hanoi on October 31, aiming to help Vietnamese tech firms explore opportunities in a market offering substantial incentives.

Ambassador Karl Van Den Bossche praised the dynamic tech ecosystem in Vietnam, highlighting growth in areas like e-commerce, fintech, and software development. Innovation, he noted, drives the country's technology ecosystem.

"New technologies such as cloud computing, artificial intelligence, and the Internet of Things (IoT) are widely implemented in Vietnam, backed by substantial investments in digital infrastructure. This can inspire Belgian companies to integrate these technologies into their operations, learning from Vietnamese companies' ability to adopt and master new tech,” said the Belgian Ambassador to Vietnam.

Arne Aertbeliën, Asian investment manager for Hub.Brussels, shared that “Brussels has a strong Vietnamese community, with 13,000 people in Belgium and 1,400 in Brussels alone. We’re ready to support Vietnamese businesses in setting up in Brussels, from registration and office rental to visa processes, funding resources, skills training, and developing sustainable strategies.”

Belgium offers substantial incentives for innovation-driven businesses.

“Corporate tax in Belgium is 25%, but for technology-driven, innovative companies, the rate is only 3.75%—the best rate among OECD countries. R&D personnel also enjoy significant incentives,” said Aertbeliën.

“If Vietnamese tech firms are truly innovative and meet Belgian requirements, they could benefit from the 3.75% corporate tax rate. Many Indian companies have already taken advantage of this,” noted Tran Tuyet Trang, Economic and Trade Counsellor representing Brussels, in an interview with VietNamNet.

Opportunities for vietnamese tech companies

NTQ Solutions, a Vietnamese tech company, is among the few with clients in Brussels and surrounding areas.

“Belgium has policies promoting R&D, innovation, and support for the startup ecosystem. Belgium’s support extends from setting up offices to legal and tax advice, which appeals greatly to Vietnamese tech companies,” said Nguyen Minh Trang, NTQ Solution’s Head of Branding. “For Vietnamese tech companies looking to enter Belgium, there are abundant opportunities to introduce new business ideas or collaborate with startups on R&D.”

Recognizing Europe as a priority market, NTQ Solutions is actively expanding, establishing subsidiaries to bring “Made by NTQ” products closer to international clients. Leveraging core technologies such as AI and generative AI, NTQ Solutions tailors products to meet the unique needs of specific markets.

“In Europe, we already have offices in the Netherlands and Germany. Belgium is on our list for future business expansion,” Trang noted.

Trang advises Vietnamese companies aiming to enter Belgium to remember that EU countries, while unified, have distinct business policies. “Each country has different regulations, and companies entering Belgium or other EU markets need to carefully study each country’s culture, operating style, and legal environment,” Trang said, adding that this remains a “challenging task” for many Vietnamese tech firms.

Nguyen Thi Thu Giang, Vice President and Secretary-General of VINASA, highlighted the Belgian government’s generous policies for Vietnamese businesses looking to explore the European market. “Belgium’s IT market is estimated at over $27 billion annually, despite a population of just over 11.7 million. Meanwhile, Vietnam, with about 100 million people, reports software revenue of only around $13 billion. Belgium’s mature IT industry can help Vietnamese firms gain a foothold in Europe.”

“Although VINASA has organized delegations to various European countries, such as Germany, France, and the UK, we haven’t yet focused on Belgium due to limited exchanges. Increasing cooperation with the Belgian Embassy could lead to more fruitful connections between Vietnamese and Belgian tech firms in the future,” Giang added.

Three challenges facing vietnamese tech firms

Ambassador Van Den Bossche pointed out three main challenges for Vietnam’s tech sector: a shortage of skilled labor, infrastructure, and international market access.

Despite a young workforce, Vietnam faces a shortage of highly skilled professionals in advanced tech sectors. Infrastructure quality, though improved, still requires stronger systems, including reliable data centers and high-speed internet, as well as clear policies that match technological advancements.

Expanding internationally also poses a challenge, as Vietnamese firms need strategic support from both government and private sectors to succeed in the global market.

“Overcoming these challenges will position Vietnam as a leading tech hub in the region,” Ambassador Van Den Bossche affirmed.

Binh Minh