For Oscar Lopez Alegre, Vietnam is more than a business destination—it’s home.
After 15 years of living and working in the country, Oscar, now Chairman of the Spanish Chamber of Commerce, reflects on a journey that has shaped both his professional and personal life.
“Vietnam has become a great place not only for developing my business career, but also my personal life. I got married in Vietnam as well,” he shares. He feels a deep cultural connection between Vietnam and Spain, noting that Vietnamese values resonate closely with his own: resilience, adaptability, and a spirit of continuous improvement.
As Chairman, Oscar has brought this inclusive spirit into his leadership. One of his key initiatives was reimagining the Spanish Copa networking event. Traditionally a Spanish-only gathering, Oscar expanded it to include other business chambers—from Belgium, France, and Italy to Indonesia, Malaysia, Hong Kong, and Singapore.
According to Oscar, opportunities are best created through connection and collaboration. “When you’re doing business, you don’t just want to see the same people all the time. You want to meet new people,” he explains. This move has helped foster a larger, more dynamic community, especially important given the still modest size of the Spanish business presence in Vietnam.
Below is an excerpt of our conversation on cultural synergy, digital growth, business potentials and risks in Vietnam.
When I first heard of the Spanish Chamber of Commerce, I assumed the Spanish community in Vietnam was quite small. But there’s been strong trade growth in recent months. What do you think are the key factors driving this trend?
I believe this is a very positive trend, and the result is not due to a single factor, but many.
First, I would say that both economies have been remarkably resilient and very adaptable. Even after the pandemic, both have maintained healthy growth—Vietnam above 6–7%, Spain above 3%, which is still quite good.
Second, we have in place the EVFTA, the EU–Vietnam Free Trade Agreement, which continues to bear fruit in reducing barriers and creating incentives for deeper economic ties.
And third, there’s a growing interest from Spanish businesses in diversifying their supply chains as Vietnam has always been a very good and reliable country to do that, because of its strength in manufacturing.
You mentioned diversification. What do you see as the biggest threat to export growth between Vietnam and Spain if this trend continues?
The biggest threat is also one of our biggest strengths: our evolving relationship with the European Union. To keep strengthening this relationship, Vietnam will need to adapt to new EU regulations. For example, CBAM—the Carbon Border Adjustment Mechanism that will start applying next year. And then we have the CSDR, the Corporate Sustainability Due Diligence Regulation, which will apply from December 20th, 2025.
If Vietnam wants to keep collaborating with Spain and with Europe, it will have to adapt to this new framework of regulation and ensure full compliance. So yes, it’s a big challenge—but also one of the biggest opportunities.
ESG is now an important factor in doing business, how is the Spanish Chamber of Commerce going to support Vietnamese businesses in adapting to these policies?
We work very closely with the Spanish Embassy, with the Trade Office and with local universities and Vietnamese institutions. Our goal is to help provide Spanish companies with the information, tools, and connections they need to succeed in Vietnam, including when it comes to navigating challenges like these.
Now, for Vietnamese companies that are willing to invest in or trade with Spain, the Chamber doesn’t focus on that directly, but we can help point them to the right partners.
How long have you been doing business in Vietnam?
I’ve been working in Vietnam for 15 years. Vietnam has become a great place not only for developing my business career, but also my personal career. I got married in Vietnam as well. So I really want to keep supporting this country by making the relationship between Vietnam and Spain a reality.
I would say that the most important thing is Vietnam’s overall culture maps very well with Spanish culture and with my personal values. Vietnam has an amazing ability for problem-solving. Vietnamese people are incredibly good at solving problems and I think it’s because they’ve gone through difficult times and managed to overcome them. That gives them incredible resilience and intelligence.
Even though there are risks coming from new regulations, I’m not too worried about Vietnam’s ability to adapt. In fact, when I look at Vietnam, I see a country that evolves so fast. When I came to Saigon 15 years ago, we only had one big tower which is Bitexco Tower but now you have Landmark 81.
But it's not just about infrastructure, on the digital side, what stands out is how everything can be done digitally. And that was impossible 15 years ago—not only in Vietnam, but also in Spain. So Vietnam has probably done a much faster adaptation on digital ecosystems.
The penetration of internet and mobile devices in Vietnam is much higher than in many developed countries. Vietnam is a very digitalized country. And I work in the digital sector, my company develops software so I can say the quality of tech talent here is really good. You find young people with great energy, strong technical skills, and increasingly good English. They have the capability to create digital ecosystems and infrastructures from scratch.
And let’s not forget, AI is right around the corner. I believe that the same spirit of digitalization that Vietnam has embraced over the past few years will continue with AI. That will make the country even more productive as AI is going to become the basic framework for developing future digital products.
Those are definitely big advantages. But are there any downsides or disadvantages to working in Vietnam?
If I have to mention one, I’d say regulatory clarity and long-term stability are key areas to improve.
Take Spain’s renewable energy leader, Iberdrola. They wanted to invest in renewable energy here. They had the technology, the experience, and the capability but they couldn’t properly enter the market. Eventually, they had to leave. And I think that reflects a need for clearer regulatory frameworks and long-term visibility, so that big players can come here and feel confident making investments.
Vietnam is introducing many changes in regulations lately. How do these changes impact Spanish businesses here?
These changes might be a net positive in the long term but right now, they’re creating friction, and we call it “storming”. So Spanish companies will need to adapt. And this is exactly where the Spanish Chamber of Commerce can help.
We host multiple workshops and seminars throughout the year to help our members deal with practical issues and understand new regulations. Our goal is to guide them through these transitions so they’re not caught off guard.
Besides regulatory frameworks, what improvements would you want to see from Vietnam’s side?
I’d like to see more support for sustainability and circular economy. It’s not just good for the planet but it’s essential for companies to stay competitive.
Especially now, with the current instability in global trade and the increasing tariffs, having these sustainability requirements met early will give Vietnam more options in trading. It’s key to diversify your trade beyond just one or two partners.
Meeting these standards would also make Vietnamese products more attractive in Europe, and even in other markets like Japan or South Korea.
In terms of sustainability, are there specific areas that need improvement?
Packaging is one of the most important. Vietnam still produces too much plastic. Spain has very strong technology in bioplastics, which could be imported to improve sustainability in retail.
Secondly, renewable energy. I know the Vietnamese government has been exploring nuclear energy. While it has its detractors, it’s still better than burning coal. So I support those steps.
When we talk about sustainability, we also need to consider traceability. Fertilizers, for instance, have a huge carbon impact. So one key area is to get better at tracing where carbon emissions in food products come from—whether it’s the fertilizers, the packaging, or the distribution chain. Traceability will be crucial to improving overall sustainability.
Since Spain has strengths in sustainability, would you say that’s the sector with the most long-term potential for collaboration with Vietnam?
It’s definitely one of them. And we already have success stories. For example, one of Vietnam’s biggest exports to Spain is textiles. We recently added a company to the Chamber called Recover. What they do is take leftover textile pieces and turn them into new fabrics—so instead of going to landfill, those materials are reused to make jackets, shirts, and other garments.
It’s not just reducing costs—it’s also making the whole supply chain more sustainable. And Recover is just one example. Spain also has strong technology in renewables. But again, Vietnam needs to create a better long-term energy framework to justify the cost of using that kind of advanced technology.
Vietnam has become Spain’s third-largest trading partner in Asia, after China and India. Why do you think Vietnam stands out to Spanish businesses?
It’s a combination of things. First, Vietnam has a very young and dynamic workforce, which is always attractive for manufacturers.
Second, we have the EVFTA, which makes trade much easier. We’ve been actively promoting it from the Chamber, so companies know how to benefit from it.
And third, Vietnam has shown solid political and economic stability. There are some changes in regulations, but overall, the government is stable and that gives investors confidence.
Vietnam has also been very smart with its “bamboo diplomacy.” It has made big efforts to maintain strong relationships with Europe. This year alone, we’ve seen visits not only from the Spanish Prime Minister, but also the French President and other high-level EU representatives. These ties are crucial and Vietnam is doing a very good job maintaining them.
Thank you for the conversation Oscar!
Find out more about Spanish Chamber of Commerce in Vietnam and their upcoming activities via this website.