DEEP C Industrial Zones is no stranger to investors—as one of Vietnam’s largest industrial park developers, the name has become a familiar one. And so has its CEO, Bruno Jaspaert, to the audience of Vietnam Innovators.
Returning to the show amid ongoing global supply chain disruptions and rapidly shifting trade policies, Bruno brings a perspective that remains unshaken by short-term turbulence. Instead, he speaks of resilience in investment strategy, in business models, in talent development, and in Vietnam’s long-term role in an increasingly uncertain world.
For Bruno, Vietnam holds a once-in-a-lifetime opportunity to reposition itself on the global economic map.
Tariffs And The Multi Headed Dragon Image of Supply Chain
Bruno Jaspaert, a Belgian optimist based in Hai Phong and a previous Vietnam Innovators guest, returns with an insightful understanding of global trade. He also shares the adaptive strategies employed by DEEP C in response to evolving trade dynamics.
Bruno starts with a sharp observation: “The global supply chain is perhaps no longer becoming global.” Changes in trade policies, especially tariffs, are happening so quickly and unexpectedly that businesses can't react in time. Amid the context of "7 tariff hikes in 10 days" from the Trump administration, Bruno frankly calls this a "trade war" where Vietnam could be the one taking the hit, but could also "escape" if it goes in the right direction.
“The image I use is that supply chains will become more agile and they will pop up different production platforms like a multi headed dragon. There's a fire in the States, fine. There will be a dragon head that will be raising its head somewhere else, taking over part of the production platform that's on the fire.” Bruno shared. But with that comes soaring costs from machinery, administration to logistics. “A business is not like a race car. It doesn't go off immediately. It's more like a container ship. It takes ages to turn it a little bit to the left or a little bit to the right.”
That is the reason why Bruno does not follow short-term reactions. Instead, he leads DEEP C in a clear direction: building a business model that not only exists in the present but is also resilient enough to withstand and grow in the long term.
Deep C Amid The Shifting Tides
Despite the headlines, Bruno remains calm. On the ground at DEEP C, things look far more stable than many might expect.
Only one out of 24 planned projects this year has faced potential delays. And less than 20% of DEEP C clients rely heavily on exports to the U.S.—many serve the local market or regions already accustomed to trade barriers, such as the automotive sector.
Today, DEEP C’s tenants are 40% Vietnamese, followed by 25% Chinese or Chinese-owned, 20% Korean, 15% Japanese, and the remainder from the U.S. and Europe.
Still, Bruno doesn’t sugarcoat the future: “We do not really see that much impact today. Our outlook for this year seems to be on track. What it will be next year, that's a big question mark.”
ESG Isn’t A Checkbox. It’s A Business Compass
Beyond tariffs, Bruno doubles down on DEEP C’s commitment to long-term sustainability, especially in a world where ESG is becoming a buzzword, if not an afterthought, in many Western markets. DEEP C is even more determined to pursue a sustainable business model based on the philosophy that "sustainability should go hand in hand with profitability." He believes: "If something is sustainable but not profitable, that is not called sustainable anymore. It's called a charity"
Take DEEP C’s drainage system, for instance. Instead of conventional concrete pipes, the team built open-air streams—a solution that not only enhances water flow, but also reduces flood risks during storm season.
And investors are noticing. Seven years ago, the average investment per hectare in DEEP C was $1.3 million. Today, it exceeds $10 million/ha—and in Quang Ninh’s new industrial zone, it’s reached $14.3 million/ha. These aren’t just numbers. They’re proof that a clear ESG strategy is a magnet for global capital.
But DEEP C’s vision extends beyond infrastructure and green energy. It includes human well-being, too. Within its industrial zones lies a 3-hectare organic farm, supplying fresh produce to employees earning under $500/month.
From resilient infrastructure to food security, Bruno’s ESG model is simple: touchable, livable, and even edible.
Vietnam’s Once-in-a-Lifetime Opportunity
Not only discussing strategy or finance, Bruno spends the last part of the conversation emphasizing the human element – which, according to him, will determine the true sustainability of any business model.
“Vietnam has experienced its once in a lifetime momentum today. In 10 years, you can change your life for yourself, for your generation, but also the one that comes after you and that is unique.”
Before Vietnam, Bruno had worked in seven other countries. And what deeply impressed him in Vietnam was not only the speed of economic growth, but also the spirit of the workers. They are one of the most hard working, loyal and eager people
At DEEP C, the turnover rate over the past 7 years has always been below 2%. According to Bruno, the secret lies not in salary, but in trust, empowerment, and opportunity. When employees feel they are developed, listened to, and recognized, they will stay and contribute.
That’s the model DEEP C is building—a blueprint for the industrial zone of the future, one where sustainability isn’t a trend to tick off in a report, but a long-term promise to business, society, and every worker who powers it.
"Tariffs are coming, tariffs are going, Vietnam will stay.” - Bruno Jaespert