H.E. Marco Della Seta, Ambassador of Italy to Vietnam, tells Vietnam Economic Times / VnEconomy’s Ngoc Lan about the prospects for economic and trade relations between Vietnam and Italy, especially with the EU-Vietnam Free Trade Agreement having officially come into effect in 2020.

The official entry into force of the EU-Vietnam Free Trade Agreement (EUVFTA) in August 2020 created a huge and important turning point in promoting economic and trade cooperation between Vietnam and the EU in general and Vietnam and Italy in particular. What impressive trade and investment relations between the two countries did the EUVFTA bring about?

Since the EUVFTA came into effect, we have observed an acceleration in Italy-Vietnam trade relations. In 2019, prior to the agreement, bilateral trade amounted to approximately $5.3 billion. Despite the Covid-19 pandemic, that figure held steady in 2020 and quickly rebounded in 2021, with trade reaching over $5.6 billion and then growing to $6.2 billion in 2022.

Bilateral trade climbed further in 2024, to nearly $6.9 billion, for a 13.4 per cent increase year-on-year. Italian exports to Vietnam grew 21 per cent, supported by the gradual elimination of tariffs in key sectors such as machinery, pharmaceuticals, and chemicals. At the same time, Vietnam’s exports to Italy rose by over 10 per cent, with strong performances in electronics, footwear, and agri-food. Beyond the numbers, the EUVFTA has fostered stronger business ties, encouraged high-standard regulatory alignment, and created new space for technological cooperation and investment between our two countries.

Vietnam is Italy’s largest trading partner in ASEAN. What advantages does Vietnam hold, especially compared to other countries in the region?

Vietnam stands out in ASEAN thanks to its stability, integration into global trade networks, an increasingly skilled workforce, and a growing domestic market. The country has cultivated a competitive export capacity while demonstrating a high level of openness to international cooperation.

What further enhances Vietnam’s appeal today is its ability to position itself as a partner for international supply chains. In the current global climate, Vietnam offers an attractive environment for companies that are pursuing diversification and “de-risking” strategies. More specifically, Vietnam can act as a hub for companies looking to serve both the local market and export to neighboring countries.

What are Italy’s priorities in further promoting trade and investment relations between the two countries?

Italy’s priorities with Vietnam are centered on sectors where our know-how and technological expertise can bring added value and respond to Vietnam’s economic goals.

Machinery is already the largest category of Italian exports to Vietnam, with Italian manufacturing equipment increasingly appreciated by Vietnamese partners seeking high productivity and innovation, especially in packaging, textiles, and precision mechanics. In agribusiness and food processing, Italy offers advanced technologies and experience in sustainable and traceable food systems. As a leader in high-quality and sustainable agri-food production, Italy sees great potential in expanding trade in this area.

At the same time, we are actively engaging to ease market access for Italian agri-food products in Vietnam. Health and pharmaceuticals is another sector that continues to expand in terms of export volumes. Luxury and fashion, meanwhile, will present significant opportunities in the near future due to Vietnam’s rapidly-expanding middle class and increasing purchasing power.

What primary challenges or obstacles may hinder the further strengthening of economic and trade relations between Vietnam and Italy?

While Vietnam-Italy economic relations continue to strengthen, certain structural challenges remain. One of the most pressing is the development of infrastructure and energy networks, which are critical pillars supporting industrial competitiveness, trade logistics, and Vietnam’s long-term sustainability objectives. In this regard, Italy intends to actively contribute to the improvement of transport infrastructure and energy systems, and we see opportunities for Italian businesses to integrate into Vietnam’s ambitious modernization plans, particularly in the transportation sector.

At the same time, Italy is closely following Vietnam’s efforts under the National Power Development Plan VIII (PDP8) and the Just Energy Transition Partnership (JETP), and we are committed to accompanying the country’s green transition through concrete involvement in strategic projects such as the Bac Ai pumped storage hydropower plant. These initiatives offer a tangible framework for enhanced bilateral cooperation in renewable energy, smart grids, and sustainable engineering.

International trade is now marked by a host of concerns. How does this affect Vietnam and the trade and investment relations between the two countries?

The international context has not significantly disrupted trade between Italy and Vietnam. One key reason is that Vietnam is not currently subject to country-based trade defense measures in key markets. When it comes to investments, the situation is more complex. The general climate of uncertainty, which is linked to geopolitical tensions, high interest rates, and supply chain volatility, can result in delayed investment decisions. Investors are more cautious, and some projects may be postponed as companies reassess risks.

What suggestions do you have for Vietnam to improve and further promote trade and investment relations between the two countries, especially in creating favorable conditions for businesses to take advantage of opportunities from the EUVFTA?

We commend Vietnam for its progress in improving its business climate and note the government’s growing attention to the concerns raised by the business community. Continued efforts in this direction are key to fully leveraging the EUVFTA. We encourage Vietnam to continue streamlining procedures in key areas such as work visa issuances, customs operations, and investment licensing. These reforms are essential to attract quality FDI and facilitate the operations of international companies. Support for small and medium-sized enterprises (SMEs) and legal certainty in areas like intellectual property are also important steps towards building an even more competitive economic environment.

 

-Ngoc Lan

FPT Corporation and Marvell Vietnam Technology Company Limited have been chosen as the city's first strategic partners in semiconductor integrated circuits and artificial intelligence.

The People's Council of the central city of Da Nang, at its recent 23th sitting, has passed a Resolution recognizing FPT Corporation and Marvell Vietnam Technology Company Limited as the city's first strategic partners in semiconductor integrated circuits and artificial intelligence.

According to a report submitted to the sitting by the City People's Committee, both FPT Corporation and Marvell Vietnam fully meet the criteria for strategic partnership in alignment with Da Nang’s long-term objectives for developing its semiconductor industry.

As strategic partners, the two enterprises will benefit from preferential policies under Resolution No. 136/2024/QH15, issued by the National Assembly on June 26, 2024, which outlines urban governance reforms and specific mechanisms for Da Nang’s economic development.

The City People's Committee noted that FPT Corporation and Marvell Vietnam Technology Company Limited (a subsidiary of Marvell Technology, Inc., USA) have committed to supporting Da Nang in software, hardware, human resource training, and other key areas essential for the advancement of semiconductor and AI technologies. Both companies have pledged long-term development in Da Nang for at least five years.

This partnership is the result of continuous engagement between Da Nang City leaders and major technology corporations in the semiconductor sector, culminating in the signing of a Memorandum of Understanding on January 16, 2025.

Da Nang is implementing multiple initiatives to establish itself as one of Vietnam’s top three centers for semiconductor integrated circuit design and AI application development by 2030.

The city aims to have at least 30 semiconductor design enterprises and service providers and attract at least 1 to 2 packaging and testing enterprises as part of its long-term vision.

-Ngô Anh Văn

Prime Minister Pham Minh Chinh chairs the sixth meeting to further discuss tariff negotiation strategies with the United States.

Prime Minister Pham Minh Chinh on April 29 chaired a meeting in Hanoi to further discuss tariff negotiation strategies with the United States.

The Prime Minister was quoted by the Government News as saying at the meeting that Vietnam will continue to amend its legal framework to address the concerns of the U.S., based on ensuring national sovereignty and international commitments, and in accordance with the laws of both countries.

This is the sixth meeting the Prime Minister has convened to implement the conclusions and directives of the Party Central Committee, the Politburo, and Party General Secretary To Lam in response to the U.S. reciprocal tariff policy.

According to the Prime Minister, Vietnamese authorities have actively addressed issues related to product origin, non-tariff barriers, intellectual property, copyright, and streamlining of administrative procedures.

The Prime Minister also requested that negotiations be expedited to sign in May, contracts including purchase and import of U.S. goods such as LNG, aircraft, pharmaceuticals, medical supplies, and agricultural products, in order to ensure a sustainable trade balance between the two countries.

Negotiations must be conducted in a calm, steadfast, and highly flexible manner while ensuring national sovereignty, security, and interests, as well as upholding international commitments, the Government leader noted.

Vietnamese agencies should engage in discussions with the U.S. to bring down import tariffs on each other's goods to mutually low and balanced levels, the Prime Minister said.

He called on the U.S. to soon recognize Vietnam as a market economy and lift restrictions on high-tech exports, with a view to promoting trade balance, facilitating technology transfer, and demonstrating the U.S.'s commitment to supporting an independent, strong, resilient, and prosperous Vietnam.

Vietnam is also working closely with ASEAN and other countries in the region to carry out negotiations that ensure a balance of interests and a sustainable trade balance between both sides, in line with the Comprehensive Strategic Partnership between the bloc and the U.S., according to the Government leader.

-Phạm Long

The private sector, particularly startup in circular economy, plays an absolutely crucial role in economic growth, Resident Representative at Hanns Seidel Foundation  (HSF) Michael Siegner.

Startups with sustainable and circular business models not only tackle environmental challenges but also become key drivers of innovation and economic growth in Vietnam, according to Mr.  Michael Siegner, Resident Representative at Hanns Seidel Foundation (HSF).

"The private sector, particularly startup in circular economy, plays an absolutely crucial role in economic growth," Michael Siegner said during a recent interview with the Vietnam Government Portal (VGP).

"The government can set the framework for economic development, but in the end, it's up to the private sector to deliver," he said.

He commended Vietnam for its impressive economic transformation after the COVID-19 pandemic—from crisis management to a focus on sustainable growth. Within the region, Vietnam stands out as a bright spot. Ongoing institutional reforms, such as the simplification of administrative procedures, are expected to create a more favorable environment for innovation.

Mr. Siegner also praised the Vietnamese government's efforts to support the private sector, including the current initiative to cut 30 per cent of administrative procedures. These actions contribute to a more enabling environment for innovation and creativity, alongside the introduction of key policy frameworks such as the Law on Environmental Protection, the National Action Plan on Circular Economy, and the National Strategy on Sustainable Consumption for the 2021–2030 period.

From a geopolitical perspective, Mr. Siegner acknowledged Vietnam's strong capacity to regulate and adapt amid global uncertainties. However, he noted that to achieve long-term sustainable development, Vietnam must strike a balance between profitability and sustainability. This includes building resilient supply chains, fostering a creative workforce, and supporting business models that generate long-term employment.

Connectivity for growth

Startups in Vietnam, particularly those in the circular economy sector, are currently facing common challenges such as lack of funding, limited management skills, and difficulties accessing the global innovation ecosystem.

Therefore, HSF is committed to supporting Vietnamese startups in connecting with innovation hubs in Singapore and encouraging large domestic enterprises to recognize the potential for collaboration with startups towards sustainable development.

"We provide capacity building and training for them, and also connect them with each other so they can learn and scale their models," Mr. Siegner added.

 

Currently, HSF primarily supports innovation- and sustainability-oriented startups through training, capacity building, and networking. One of its key initiatives is the ClimateLaunchpad program, initiated by the EU and co-organized by HSF in Vietnam since 2020. Over the past five years, ClimateLaunchpad has attracted and trained nearly 100 startups from 12 provinces and cities across Vietnam.

Two outstanding startups — Alterno, a company developing sand-based batteries, and AirX Carbon, which produces eco-friendly pallets — showcased their progress at the Partnership for Growth (P4G) Summit in Vietnam on April 17. Both emerged as winners from past ClimateLaunchpad competitions, underlining the initiative's ability to surface and support transformative business ideas. They have huge potential not only for sustainability but also for integrating into existing value chains," Mr. Siegner noted.

"Our real contribution is creating a platform where startups from Vietnam can connect with peers in Singapore, Malaysia, Indonesia, or even across continents like in Tunisia or other African countries," he added.

By building this cross-border network, HSF enables knowledge-sharing and potential collaborations between startups facing similar sustainability challenges but operating in diverse contexts. This global connectivity, Mr. Siegner emphasized, is key to scaling solutions and adapting innovations to environment.

In the future, as HSF continues to nurture connections across ASEAN and beyond, its mission reflects a broader ambition: to support the private sector in driving the shift toward a circular and sustainable economy. Through its ongoing programs and partnerships, the foundation aims not only to help startups survive but also to thrive and multiply their impact globally.

In addition, HSF will continue to expand its existing network. At the same time, the Foundation will promote connections between successful startups and large enterprises to create broader social impact, aiming toward sustainable development.

The head of HSF sent a message to the Vietnamese startup community: "Initial business failures are completely normal. Stay persistent and learn from your setbacks. Passion and perseverance are key factors for long-term success".

-

Shrimp export is the key growth driver, contributing $1.3 billion.

Seafood export revenue in the first four months of the year is estimated to reach $3.45 billion, soaring 28% compared to the same period last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

In April alone, seafood export turnover skyrocketed 30% year-on-year, amounting to $1 billion.

Among key products, shrimp export gained high growth with a turnover of $350 million in April, bringing the total shrimp export value to nearly $1.3 billion in the four-month period, up 35% year-on-year.

In the first quarter of the year, shrimp export earned $939 million, surging 37% year-on-year.

The shrimp export growth is attributed to the recovery of many key markets, including the US, China and Japan.

Shrimp export is forecast to continue increasing in the second quarter of the year. Total export turnover of shrimp for the whole year is predicted to hit $4 billion.

 

-Chu Khôi

Vietnam Economic Times Issue 402+403 | Monday, April 28 - May 5, 2025 .container-xxl, .detail__content {/*max-width: 100% !important;*/} .detail__content iframe[data-name="animatecc"] { width: 100% !important; overflow: hidden; position: relative; /*z-index: 99999;*/ max-height: 100vh; } .align-center-image { width: 1290px; max-width: 1320px; margin-left: -50% !important; } @media screen and (max-width: 720px) { .align-center-image { width: 100% !important; max-width: 100%; margin: 0 !important; } .detail__content iframe[data-name="animatecc"] { height: 100vh; } }

-Vietnam Economic Times - VnEconomy

New regulations cover statistical classification by economic sectors, foreign investors' purchase of shares of Vietnamese credit institutions, and petroleum trading.

- Circular 07/2025/TT-BKHDT (Circular 07), issued by the Ministry of Planning and Investment (now the Ministry of Finance) on February 13, 2025,  providing regulations on statistical classification according to economic types,  will takes effect from May 1, 2025.

The Circular aims to establish a unified statistical classification system for economic units, serving state statistical activities. This classification helps identify and categorize economic units with similar characteristics into corresponding economic types, providing a basis for accurate and efficient collection, analysis, and reporting of economic data.

The statistical classification system by economic type is divided into two levels:

+ Level 1 comprises four economic types namely State-owned economy, collective economy, private economy and FDI economy.

+ Level 2 consists of 17 economic types, each coded with two digits corresponding to Level 1.

- Circular 18/2025/TT-BCT issued by the Ministry of Industry and Trade on March 13, 2025, which supplements regulations on the mechanism for managing gasoline prices, will take effect from May 2, 2025.

Based on data on factors that make up gasoline prices in line with regulations and opinions participating in managing gasoline prices of the Ministry of Finance in writing, the Ministry of Industry and Trade announces the basic price and the selling price of gasoline.

In case necessary, in order to ensure the supply of gasoline for the domestic market, the Ministry of Industry and Trade shall specify the progress of importing and purchasing gasoline domestically or adjust the total minimum gasoline source for traders to implement.

Petroleum traders, petroleum distributors with petroleum warehouses owned by other petroleum traders for lease are responsible for reporting quarterly on the situation of warehouse use and lease according to the issued form to the Ministry of Industry and Trade and the Department of Industry and Trade at the warehouse lenders before the 10th of the first month of the following period.

- Under Decree No. 69/2025/ND-CP, amending several provisions of Decree No. 01/2014/ND-CP regarding foreign investment in Vietnamese financial institutions, foreign investors could only buy treasury stocks which were purchased by credit institutions before January 1, 2021.

Total foreign ownership in Vietnamese commercial banks is capped at 30 per cent, with some exceptions, while that in non-bank credit institutions is no more than 50 per cent.

In special cases involving weak or troubled financial institutions, the Prime Minister is in charge of deciding on ownership percentage of a foreign organization or a strategic foreign investor.

The new decree also paves the way for foreign ownership in commercial banks undergoing mandatory transfers to exceed 30 per cent but not surpass 49 per cent of charter capital, provided the bank is not majority state-owned.

If foreign investors surpass the regulated thresholds, they must reduce their ownership percentage within six months to comply with the limits.

The decree will come into effect on May 19.

-Phạm Long

At the national celebration of the 50th anniversary of the liberation of the South and national reunification held in Ho Chi Minh City on April 30 morning, General Secretary of the Central Committee of the Communist Party of Vietnam (CPV) To Lam delivered an address.

Following is the main content of the address through the translation by the Vietnam News Agency:

Today, in the heroic atmosphere of the historic April 30, in the heroic city named after beloved President Ho Chi Minh, with great excitement and pride, the Central Committee of the Communist Party of Vietnam, the National Assembly, the State President, the Government of the Socialist Republic of Vietnam, the Central Committee of the Vietnam Fatherland Front solemnly organise a ceremony to celebrate the "50th anniversary of the liberation of the South and national reunification" - the most brilliant milestone in the history of building and defending the country; marking the glorious end of the 30-year resilient struggle for independence, freedom, and reunification of the Fatherland; putting an end to the more-than-a-century domination of old and new colonialism; and bringing the country into a new era - the era of national independence and socialism.

On behalf of leaders of the Party, the State and the Vietnam Fatherland Front Central Committee, I warmly welcome and would like to extend my respectful greetings, warm regards, and best wishes to leaders, former leaders of the Party, the State, and the Vietnam Fatherland Front, revolutionary veterans, Heroic Vietnamese Mothers, Heroes of the People's Armed Forces, and Heroes of Labour; generals, officers, soldiers, veterans, militiamen, guerrillas, youth volunteers, frontline workers, families with meritorious service to the country, international guests, all compatriots and comrades nationwide, overseas Vietnamese, and the Party Organisation, administration, and people of Ho Chi Minh City.

In this sacred moment, we respectfully remember and express our boundless gratitude for the great contributions of beloved President Ho Chi Minh - the genius Leader of our Party and nation, the great teacher of the Vietnamese revolution, a hero of national liberation, a great man of culture, an outstanding soldier of the international communist and workers' movements - with the burning desire to liberate the South and reunify the nation, with the faith in victory that "No matter how difficult or arduous, our people will definitely win. Our Fatherland will definitely be reunified. Compatriots of the North and the South will definitely be reunited under one roof".

Party General Secretary To Lam (front row, 6th from right) and other leaders and former leaders of the Party and State, and foreign distinguished guests at the national celebration of the 50th anniversary of the liberation of the South and national reunification. (Photo: VGP)

We will forever remember and be grateful for the great contributions of revolutionary leaders, martyrs, Heroic Vietnamese Mothers, Heroes of the People's Armed Forces, generations of cadres, generals, officers, soldiers, militiamen, guerrillas, youth volunteers, frontline workers, wounded and sick soldiers, families of martyrs, families with meritorious service to the revolution, veterans, and the entire people's armed forces and people across the country as well as overseas Vietnamese, who devoted and sacrificed their lives for the cause of completely liberating the South and reunifying the country.

We sincerely thank our brothers, comrades and international friends, progressive forces and peace-loving people around the world for their great, valuable, wholehearted, loyal, and steadfast support and assistance to the Vietnamese people's cause of national liberation and reunification.

Immediately after the success of the August Revolution in 1945 and the birth of the Democratic Republic of Vietnam, our people had to enter two long resistance wars to protect the country's independence and unification. The resistance war against the French colonialists ended, and like many nations around the world, the Vietnamese people wished for a peaceful, independent and free life. However, the US imperialists quickly replaced the French colonialists, intervening in Vietnam, carrying out the plot to divide our country, and turning the South of our country into a new type of colony and an outpost to prevent communism in Southeast Asia and other progressive forces in the world. During the war of aggression against Vietnam, the US imperialists deployed a large number of soldiers with the most modern and sophisticated weapons, implemented many dangerous war strategies; carried out two brutal destructive wars against the North, causing a lot of pains and losses to the people in both regions of the country; and the consequences of the war still linger today.

In the face of countless difficulties, challenges, hardships and fierceness, we inherited and promoted our ancestors' glorious tradition in fighting against foreign invaders, summarised valuable lessons in the prolonged resistance war against the French colonialists, with the mettle and clear-sighted brainpower, and by harnessing the strength of the people and the great national unity bloc, while maximising the support and assistance of international friends, progressive forces and peace-loving people in the world. Our Party and President Ho Chi Minh led our army and people to simultaneously carry out two strategic tasks: The socialist revolution in the North and the people's national democratic revolution in the South, resolutely driving away the invaders.

At the national celebration of the 50th anniversary of the liberation of the South and national reunification held in Ho Chi Minh City on April 30 morning (Source:VNA)

With a burning desire to safeguard national independence and reunification, and with the spirit of "Nothing is more precious than independence and freedom", the entire Vietnamese people, from Nam Quan Pass to Ca Mau Cape, united to repel the invaders and everywhere marked the bravery, sacrifices and glorious feats of our army and people. With the iron will to “liberate the South, we are determined to move forward", our army and people secured successive victories, dismantled the enemy step by step, and moved towards complete victory with the climax being the historic Ho Chi Minh Campaign, reuniting the country.

Time will pass, but the victory of our people in the resistance war against the US for national salvation will forever be recorded in the nation’s history as a shining symbol of revolutionary heroism, a victory of justice, a victory of Vietnamese mettle, spirit and intelligence; a victory of ardent patriotism and the aspiration for independence, freedom and national reunification, with the truth “Vietnam is one, the Vietnamese people are one”, a milestone affirming that our entire Party, people and army had realised the most earnest wishes and instructions of Uncle Ho, completing the cause of completely liberating the South, reunifying the country, and bringing the North and the South together as one family.

The victory of the resistance war against the US for national salvation stemmed from the correct and creative leadership of the Party; from the people’s war policy, carried out through the strength of great national unity and international solidarity; from the combination of military, political and, diplomatic struggles and the art of seizing the right moment to concentrate forces for a general offensive and uprising; from the strength of the great rear base in the North supporting the major frontlines in the South, with the spirit: No a grain of rice is lacking, no soldier is absent; cutting through Truong Son to save the nation; from the great, righteous, sincere and effective support and assistance of the Soviet Union, China and fraternal socialist countries; from the Vietnam - Laos - Cambodia special solidarity; from peace-loving, progressive people and forces worldwide, including the progressive Americans. In particular, the Great Spring 1975 Victory strongly encouraged the national liberation movement of the world's people for peace, national independence, democracy, and social progress, opening the way for the collapse of neo-colonialism all over the world and marking a pivotal turning point in human history in the 20th century.

Along with its epochal significance, the Great Spring 1975 Victory left behind valuable lessons in both theory and practice for the revolutionary cause of our Party and nation. These are (1) The lesson of promoting the strength of the people and the great national unity bloc, skillfully combining national strength with the strength of the times; (2) The lesson of promoting to the highest degree the spirit of patriotism, national pride and self-esteem; the spirit of independence, self-reliance, bravery and resilience; the determination to fight and win of our entire Party, people and army; (3) The lesson of holding high the banner of national independence and socialism, determining the correct path, suitable to the conditions and characteristics of the Vietnamese revolution; (4) The lesson of creatively applying and developing revolutionary struggle methods and methods of carrying out all-people and all-out war; developing unique and creative theories of people's war and military art; “using the few to fight the many”, “using benevolence to replace violence” (5) The lesson of firmly grasping, seizing opportunities and attacking rapidly, boldly, proactively, sensitively, flexibly, creatively and resolutely to carry out the 1975 Spring General Offensive and Uprising to achieve complete victory. (6) The lesson of benevolence, national reconciliation, putting the past behind and looking to the future after victory. (7) But the greatest lesson, at the same time, the leading factor deciding the victory of the 1975 Spring Great Victory was to maintain the absolute leadership of the Party; to build a strong Party in all aspects; to enhance the leadership capacity and combat strength of the Party throughout the process of fighting for national liberation, national reunification and protecting the achievements of socialism.

Upholding the valuable lessons from the victory of the resistance war against the US for national salvation, under the leadership of the Party, our entire people and army joined forces to recover, rebuild, construct and develop the country in accordance with Uncle Ho’s final wishes: “My ultimate desire is that our entire Party and people to unite and strive to build a peaceful, unified, independent, democratic, and prosperous Vietnam, and make worthy contributions to the world revolutionary cause.” After 50 years of national reunification and nearly 40 years of implementing the Doi moi (renewal) policy, our country have overcome numerous difficulties and challenges to achieve monumental accomplishments of historical significance, creating the foundation, potential, position and international prestige as today. From a poor, backward nation devastated by the war and subjected to blockade and embargo, Vietnam has transformed into a developing country with near upper-middle income status, deeply integrated into the world politics, global economy, and human civilisation, taking on many international responsibilities and playing an active and positive role in various international organisations and important multilateral forums. The country's independence, sovereignty, unity, and territorial integrity have been firmly maintained while national interests have been secured. The size of the economy in 2024 ranked 32nd in the world and stood among the top 20 economies in terms of trade and foreign investment attraction. The people’s living standards have significantly improved, with the poverty rate sharply declining to just 1.93% (according to multidimensional standards) compared to more than 60% in 1986. Economic, political, cultural, social, scientific-technological, national defence and security potential has been increasingly consolidated. Foreign relations have been expanded while the country’s position and prestige have been constantly enhanced. To date, Vietnam has established diplomatic ties with 194 countries which are members of the United Nations, and built cooperative relations, strategic partnerships, and comprehensive strategic partnerships with all major powers in the world, including the US, with 2025 marking the 30th founding anniversary of Vietnam-US diplomatic relations.

Half a century has passed and with the obtained great achievements, we are now standing at a new historical starting point to help the country to rise up, take off, and “stand shoulder to shoulder with powers across the five continents.” To realise the aspiration to build a Vietnam “ten times better than today,” we must liberate all productive forces, unleash all resources, and leverage all potential and strengths to strongly promote socio-economic development. In 2025, we strive to achieve economic growth of at least 8% and double-digit growth in the 2026-2030 period, are determined to successfully implement the strategic goals of becoming a developing country with upper-middle-income and modern industry by 2030 and a developed, socialist-oriented nation with high income by 2045. The focus must be placed on resolving institutional development bottlenecks; adjusting the economic space, expanding the development space, increasing decentralisation and delegation of authority, allocating and combining economic resources; establishing a new growth model, with science-technology, innovation, and digital transformation as the main driving forces, to create dramatic transformations in productivity, quality, efficiency, and competitiveness of the economy, identifying the private sector as the most important driving force of the national economy. Besides, we must continue making breakthroughs in mindset and methods to create new productivity, new productive forces, and new quality.

Being proud of the nation's glorious historical traditions, with infinite gratitude for the great contributions and sacrifice of soldiers and compatriots across the country, we are increasingly aware of our responsibility to fulfill Uncle Ho's final instructions before he passed away: "The Party must have a good plan to develop the economy and culture, aiming to continuously improve the people's lives." Caring for the people and increasingly meeting their material and spiritual needs, especially for those in remote areas, border regions, islands, revolutionary base areas, and former resistance zones, have been the Party's goals. We must focus on effectively implementing the policies of fairness, social progress, social security and social welfare as well as those for people who rendered service to the nation; implement the tuition exemption policy for all levels of general education; strive to complete the programme on eliminating temporary and dilapidated houses, accelerate the construction of social housing for low-income earners; and pay due attention to healthcare development and public health care, moving towards exempting hospital fees so that every Vietnamese citizen could truly have a secure, safe, free, prosperous and happy life.

Deeply aware of the incomparable great strength of the people and the great national solidarity bloc of Vietnam, we thoroughly grasp and consistently implement the viewpoint that "people are the root", people are the centre, the subject, the purpose of the process of national construction, development and protection. It is necessary to strongly implement the policy of national harmony and reconciliation with the spirit that we all have the blood of Lac Hong, are all brothers and sisters, "like trees of the same root, like children of the same family". All Vietnamese people are citizens of Vietnam, all have the right to live, work, the right to freely pursue happiness and love in the homeland, all have the right and responsibility to contribute to building the Fatherland. With the policy of closing the past, respecting differences, looking towards the future, our entire Party, people and army together strive to build a peaceful, unified, happy, prosperous and developed Vietnam.

As a nation that experienced countless pains and losses due to the wars in the past and also a nation that has enjoyed great benefits from peace and friendly cooperation in recent decades, Vietnam earnestly desires to work with the international community to build a future of peace, prosperity, solidarity and development. Let us do all we can today, with the desire to leave to future generations not only a better world, but also the faith and admiration for the sense of responsibility and wisdom of today's generation. We will continue to deepen our friendly and cooperative relations with countries around the world; promote the implementation of the motto "Vietnam is a friend, a reliable partner and an active, responsible member of the international community"; innovate mechanisms and policies, create all favourable conditions for international friends and the Vietnamese community abroad, those who carry Vietnamese cultural identity, have grown up in developed countries, have expertise and management skills, and have extensive international connections, to participate in activities to promote socio-economic development in Vietnam. The 50th anniversary of the liberation of the South and national reunification is also a historic moment for all Vietnamese people, all classes of people, compatriots of all ethnic groups and religions, Party members and all people at home and overseas Vietnamese, millions of people as one, to unite, join hands, and turn towards the Fatherland for the goal of building a strong, prosperous, civilised and happy Vietnam.

In the context of the complicated world situation, as a nation that has suffered many losses and pains due to the wars, deeply understanding the precious values of peace, independence and freedom, we need to continue to strengthen and modernise national defence and security, build all-people national defence for peace and self-defence, firmly safeguard the Fatherland "early", "from afar", and "protect the country when it is not yet in danger". We must build and promote the "people-based position", firmly consolidate the all-people defence position and the people's security position. It is necessary to build the revolutionary, disciplined, elite and modern People's Army and People's Public Security, which are the core forces to firmly protect the Fatherland's independence, sovereignty, unity and territorial integrity, making them the "precious sword" and "shield" to protect the Party, State, people and safeguard the regime, always a solid mainstay for the people.

 

Proud of the glorious Party and the great achievements of our army and people under the Party's leadership, we must strive to build a clean, strong and comprehensive Party so that the Party is truly "moral and civilised", representing the intelligence, honour and conscience of the nation and the era, worthy of the trust, choice and expectations of the people. We must continue to innovate the Party's leadership, governance and combat strength; successfully carry out the revolution in reorganising the apparatus of the political system, reorganising administrative units to make them more streamlined, efficient and effective. We must build and gradually perfect the mechanism of power control, resolutely push back corruption, wastefulness, negative phenomena and bureaucracy; and build a contingent of cadres at all levels, especially strategic cadres and leaders with sufficient qualities, intelligence, dedication and efforts, who dare to think, dare to do, and dare to take responsibility for the interests of the country and the people.

On the occasion of the 50th anniversary of the liberation of the South and national reunification; welcoming International Workers' Day on May 1, the 135th birth anniversary of President Ho Chi Minh, and other important events in 2025, on behalf of the leaders of the Party, the State, and the Vietnam Fatherland Front, I once again sincerely thank all compatriots, comrades, those who have sacrificed themselves for the country; thank the people, peace-loving friends, and progressive forces around the world who have supported and helped the Vietnamese people in the past struggle for national liberation, as well as in the cause of building and defending the Fatherland at present.

Promoting the spirit of the Great 1975 Spring Victory, and the achievements of the four decades of Doi moi (renewal), our entire Party, people, and army are striving with determination to successfully accomplish the five-year socio-economic development plan for the 2021–2025 period, and to achieve further outstanding accomplishments to welcome the upcoming Party Congresses at all levels, in the lead up to the 14th National Party Congress. With the mettle, intelligence, and strength of Vietnam, we secured the historic Great Spring Victory; and we are firmly confident that we will continue to attain even greater victories and remarkable achievements in the new era of prosperity, civilisation, and national rise, building our country that is “more dignified and beautiful", standing shoulder to shoulder with the powers of the five continents, fulfilling the aspirations of President Ho Chi Minh and of the entire nation.

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At the national celebration of the 50th anniversary of the liberation of the South and national reunification held in Ho Chi Minh City on April 30 morning, General Secretary of the Central Committee of the Communist Party of Vietnam (CPV) To Lam delivered an address.

Following is the main content of the address through the translation by the Vietnam News Agency:

Today, in the heroic atmosphere of the historic April 30, in the heroic city named after beloved President Ho Chi Minh, with great excitement and pride, the Central Committee of the Communist Party of Vietnam, the National Assembly, the State President, the Government of the Socialist Republic of Vietnam, the Central Committee of the Vietnam Fatherland Front solemnly organise a ceremony to celebrate the "50th anniversary of the liberation of the South and national reunification" - the most brilliant milestone in the history of building and defending the country; marking the glorious end of the 30-year resilient struggle for independence, freedom, and reunification of the Fatherland; putting an end to the more-than-a-century domination of old and new colonialism; and bringing the country into a new era - the era of national independence and socialism.

On behalf of leaders of the Party, the State and the Vietnam Fatherland Front Central Committee, I warmly welcome and would like to extend my respectful greetings, warm regards, and best wishes to leaders, former leaders of the Party, the State, and the Vietnam Fatherland Front, revolutionary veterans, Heroic Vietnamese Mothers, Heroes of the People's Armed Forces, and Heroes of Labour; generals, officers, soldiers, veterans, militiamen, guerrillas, youth volunteers, frontline workers, families with meritorious service to the country, international guests, all compatriots and comrades nationwide, overseas Vietnamese, and the Party Organisation, administration, and people of Ho Chi Minh City.

In this sacred moment, we respectfully remember and express our boundless gratitude for the great contributions of beloved President Ho Chi Minh - the genius Leader of our Party and nation, the great teacher of the Vietnamese revolution, a hero of national liberation, a great man of culture, an outstanding soldier of the international communist and workers' movements - with the burning desire to liberate the South and reunify the nation, with the faith in victory that "No matter how difficult or arduous, our people will definitely win. Our Fatherland will definitely be reunified. Compatriots of the North and the South will definitely be reunited under one roof".

Party General Secretary To Lam (front row, 6th from right) and other leaders and former leaders of the Party and State, and foreign distinguished guests at the national celebration of the 50th anniversary of the liberation of the South and national reunification. (Photo: VGP)

We will forever remember and be grateful for the great contributions of revolutionary leaders, martyrs, Heroic Vietnamese Mothers, Heroes of the People's Armed Forces, generations of cadres, generals, officers, soldiers, militiamen, guerrillas, youth volunteers, frontline workers, wounded and sick soldiers, families of martyrs, families with meritorious service to the revolution, veterans, and the entire people's armed forces and people across the country as well as overseas Vietnamese, who devoted and sacrificed their lives for the cause of completely liberating the South and reunifying the country.

We sincerely thank our brothers, comrades and international friends, progressive forces and peace-loving people around the world for their great, valuable, wholehearted, loyal, and steadfast support and assistance to the Vietnamese people's cause of national liberation and reunification.

Immediately after the success of the August Revolution in 1945 and the birth of the Democratic Republic of Vietnam, our people had to enter two long resistance wars to protect the country's independence and unification. The resistance war against the French colonialists ended, and like many nations around the world, the Vietnamese people wished for a peaceful, independent and free life. However, the US imperialists quickly replaced the French colonialists, intervening in Vietnam, carrying out the plot to divide our country, and turning the South of our country into a new type of colony and an outpost to prevent communism in Southeast Asia and other progressive forces in the world. During the war of aggression against Vietnam, the US imperialists deployed a large number of soldiers with the most modern and sophisticated weapons, implemented many dangerous war strategies; carried out two brutal destructive wars against the North, causing a lot of pains and losses to the people in both regions of the country; and the consequences of the war still linger today.

In the face of countless difficulties, challenges, hardships and fierceness, we inherited and promoted our ancestors' glorious tradition in fighting against foreign invaders, summarised valuable lessons in the prolonged resistance war against the French colonialists, with the mettle and clear-sighted brainpower, and by harnessing the strength of the people and the great national unity bloc, while maximising the support and assistance of international friends, progressive forces and peace-loving people in the world. Our Party and President Ho Chi Minh led our army and people to simultaneously carry out two strategic tasks: The socialist revolution in the North and the people's national democratic revolution in the South, resolutely driving away the invaders.

At the national celebration of the 50th anniversary of the liberation of the South and national reunification held in Ho Chi Minh City on April 30 morning (Source:VNA)

With a burning desire to safeguard national independence and reunification, and with the spirit of "Nothing is more precious than independence and freedom", the entire Vietnamese people, from Nam Quan Pass to Ca Mau Cape, united to repel the invaders and everywhere marked the bravery, sacrifices and glorious feats of our army and people. With the iron will to “liberate the South, we are determined to move forward", our army and people secured successive victories, dismantled the enemy step by step, and moved towards complete victory with the climax being the historic Ho Chi Minh Campaign, reuniting the country.

Time will pass, but the victory of our people in the resistance war against the US for national salvation will forever be recorded in the nation’s history as a shining symbol of revolutionary heroism, a victory of justice, a victory of Vietnamese mettle, spirit and intelligence; a victory of ardent patriotism and the aspiration for independence, freedom and national reunification, with the truth “Vietnam is one, the Vietnamese people are one”, a milestone affirming that our entire Party, people and army had realised the most earnest wishes and instructions of Uncle Ho, completing the cause of completely liberating the South, reunifying the country, and bringing the North and the South together as one family.

The victory of the resistance war against the US for national salvation stemmed from the correct and creative leadership of the Party; from the people’s war policy, carried out through the strength of great national unity and international solidarity; from the combination of military, political and, diplomatic struggles and the art of seizing the right moment to concentrate forces for a general offensive and uprising; from the strength of the great rear base in the North supporting the major frontlines in the South, with the spirit: No a grain of rice is lacking, no soldier is absent; cutting through Truong Son to save the nation; from the great, righteous, sincere and effective support and assistance of the Soviet Union, China and fraternal socialist countries; from the Vietnam - Laos - Cambodia special solidarity; from peace-loving, progressive people and forces worldwide, including the progressive Americans. In particular, the Great Spring 1975 Victory strongly encouraged the national liberation movement of the world's people for peace, national independence, democracy, and social progress, opening the way for the collapse of neo-colonialism all over the world and marking a pivotal turning point in human history in the 20th century.

Along with its epochal significance, the Great Spring 1975 Victory left behind valuable lessons in both theory and practice for the revolutionary cause of our Party and nation. These are (1) The lesson of promoting the strength of the people and the great national unity bloc, skillfully combining national strength with the strength of the times; (2) The lesson of promoting to the highest degree the spirit of patriotism, national pride and self-esteem; the spirit of independence, self-reliance, bravery and resilience; the determination to fight and win of our entire Party, people and army; (3) The lesson of holding high the banner of national independence and socialism, determining the correct path, suitable to the conditions and characteristics of the Vietnamese revolution; (4) The lesson of creatively applying and developing revolutionary struggle methods and methods of carrying out all-people and all-out war; developing unique and creative theories of people's war and military art; “using the few to fight the many”, “using benevolence to replace violence” (5) The lesson of firmly grasping, seizing opportunities and attacking rapidly, boldly, proactively, sensitively, flexibly, creatively and resolutely to carry out the 1975 Spring General Offensive and Uprising to achieve complete victory. (6) The lesson of benevolence, national reconciliation, putting the past behind and looking to the future after victory. (7) But the greatest lesson, at the same time, the leading factor deciding the victory of the 1975 Spring Great Victory was to maintain the absolute leadership of the Party; to build a strong Party in all aspects; to enhance the leadership capacity and combat strength of the Party throughout the process of fighting for national liberation, national reunification and protecting the achievements of socialism.

Upholding the valuable lessons from the victory of the resistance war against the US for national salvation, under the leadership of the Party, our entire people and army joined forces to recover, rebuild, construct and develop the country in accordance with Uncle Ho’s final wishes: “My ultimate desire is that our entire Party and people to unite and strive to build a peaceful, unified, independent, democratic, and prosperous Vietnam, and make worthy contributions to the world revolutionary cause.” After 50 years of national reunification and nearly 40 years of implementing the Doi moi (renewal) policy, our country have overcome numerous difficulties and challenges to achieve monumental accomplishments of historical significance, creating the foundation, potential, position and international prestige as today. From a poor, backward nation devastated by the war and subjected to blockade and embargo, Vietnam has transformed into a developing country with near upper-middle income status, deeply integrated into the world politics, global economy, and human civilisation, taking on many international responsibilities and playing an active and positive role in various international organisations and important multilateral forums. The country's independence, sovereignty, unity, and territorial integrity have been firmly maintained while national interests have been secured. The size of the economy in 2024 ranked 32nd in the world and stood among the top 20 economies in terms of trade and foreign investment attraction. The people’s living standards have significantly improved, with the poverty rate sharply declining to just 1.93% (according to multidimensional standards) compared to more than 60% in 1986. Economic, political, cultural, social, scientific-technological, national defence and security potential has been increasingly consolidated. Foreign relations have been expanded while the country’s position and prestige have been constantly enhanced. To date, Vietnam has established diplomatic ties with 194 countries which are members of the United Nations, and built cooperative relations, strategic partnerships, and comprehensive strategic partnerships with all major powers in the world, including the US, with 2025 marking the 30th founding anniversary of Vietnam-US diplomatic relations.

Half a century has passed and with the obtained great achievements, we are now standing at a new historical starting point to help the country to rise up, take off, and “stand shoulder to shoulder with powers across the five continents.” To realise the aspiration to build a Vietnam “ten times better than today,” we must liberate all productive forces, unleash all resources, and leverage all potential and strengths to strongly promote socio-economic development. In 2025, we strive to achieve economic growth of at least 8% and double-digit growth in the 2026-2030 period, are determined to successfully implement the strategic goals of becoming a developing country with upper-middle-income and modern industry by 2030 and a developed, socialist-oriented nation with high income by 2045. The focus must be placed on resolving institutional development bottlenecks; adjusting the economic space, expanding the development space, increasing decentralisation and delegation of authority, allocating and combining economic resources; establishing a new growth model, with science-technology, innovation, and digital transformation as the main driving forces, to create dramatic transformations in productivity, quality, efficiency, and competitiveness of the economy, identifying the private sector as the most important driving force of the national economy. Besides, we must continue making breakthroughs in mindset and methods to create new productivity, new productive forces, and new quality.

Being proud of the nation's glorious historical traditions, with infinite gratitude for the great contributions and sacrifice of soldiers and compatriots across the country, we are increasingly aware of our responsibility to fulfill Uncle Ho's final instructions before he passed away: "The Party must have a good plan to develop the economy and culture, aiming to continuously improve the people's lives." Caring for the people and increasingly meeting their material and spiritual needs, especially for those in remote areas, border regions, islands, revolutionary base areas, and former resistance zones, have been the Party's goals. We must focus on effectively implementing the policies of fairness, social progress, social security and social welfare as well as those for people who rendered service to the nation; implement the tuition exemption policy for all levels of general education; strive to complete the programme on eliminating temporary and dilapidated houses, accelerate the construction of social housing for low-income earners; and pay due attention to healthcare development and public health care, moving towards exempting hospital fees so that every Vietnamese citizen could truly have a secure, safe, free, prosperous and happy life.

Deeply aware of the incomparable great strength of the people and the great national solidarity bloc of Vietnam, we thoroughly grasp and consistently implement the viewpoint that "people are the root", people are the centre, the subject, the purpose of the process of national construction, development and protection. It is necessary to strongly implement the policy of national harmony and reconciliation with the spirit that we all have the blood of Lac Hong, are all brothers and sisters, "like trees of the same root, like children of the same family". All Vietnamese people are citizens of Vietnam, all have the right to live, work, the right to freely pursue happiness and love in the homeland, all have the right and responsibility to contribute to building the Fatherland. With the policy of closing the past, respecting differences, looking towards the future, our entire Party, people and army together strive to build a peaceful, unified, happy, prosperous and developed Vietnam.

As a nation that experienced countless pains and losses due to the wars in the past and also a nation that has enjoyed great benefits from peace and friendly cooperation in recent decades, Vietnam earnestly desires to work with the international community to build a future of peace, prosperity, solidarity and development. Let us do all we can today, with the desire to leave to future generations not only a better world, but also the faith and admiration for the sense of responsibility and wisdom of today's generation. We will continue to deepen our friendly and cooperative relations with countries around the world; promote the implementation of the motto "Vietnam is a friend, a reliable partner and an active, responsible member of the international community"; innovate mechanisms and policies, create all favourable conditions for international friends and the Vietnamese community abroad, those who carry Vietnamese cultural identity, have grown up in developed countries, have expertise and management skills, and have extensive international connections, to participate in activities to promote socio-economic development in Vietnam. The 50th anniversary of the liberation of the South and national reunification is also a historic moment for all Vietnamese people, all classes of people, compatriots of all ethnic groups and religions, Party members and all people at home and overseas Vietnamese, millions of people as one, to unite, join hands, and turn towards the Fatherland for the goal of building a strong, prosperous, civilised and happy Vietnam.

In the context of the complicated world situation, as a nation that has suffered many losses and pains due to the wars, deeply understanding the precious values of peace, independence and freedom, we need to continue to strengthen and modernise national defence and security, build all-people national defence for peace and self-defence, firmly safeguard the Fatherland "early", "from afar", and "protect the country when it is not yet in danger". We must build and promote the "people-based position", firmly consolidate the all-people defence position and the people's security position. It is necessary to build the revolutionary, disciplined, elite and modern People's Army and People's Public Security, which are the core forces to firmly protect the Fatherland's independence, sovereignty, unity and territorial integrity, making them the "precious sword" and "shield" to protect the Party, State, people and safeguard the regime, always a solid mainstay for the people.

 

Proud of the glorious Party and the great achievements of our army and people under the Party's leadership, we must strive to build a clean, strong and comprehensive Party so that the Party is truly "moral and civilised", representing the intelligence, honour and conscience of the nation and the era, worthy of the trust, choice and expectations of the people. We must continue to innovate the Party's leadership, governance and combat strength; successfully carry out the revolution in reorganising the apparatus of the political system, reorganising administrative units to make them more streamlined, efficient and effective. We must build and gradually perfect the mechanism of power control, resolutely push back corruption, wastefulness, negative phenomena and bureaucracy; and build a contingent of cadres at all levels, especially strategic cadres and leaders with sufficient qualities, intelligence, dedication and efforts, who dare to think, dare to do, and dare to take responsibility for the interests of the country and the people.

On the occasion of the 50th anniversary of the liberation of the South and national reunification; welcoming International Workers' Day on May 1, the 135th birth anniversary of President Ho Chi Minh, and other important events in 2025, on behalf of the leaders of the Party, the State, and the Vietnam Fatherland Front, I once again sincerely thank all compatriots, comrades, those who have sacrificed themselves for the country; thank the people, peace-loving friends, and progressive forces around the world who have supported and helped the Vietnamese people in the past struggle for national liberation, as well as in the cause of building and defending the Fatherland at present.

Promoting the spirit of the Great 1975 Spring Victory, and the achievements of the four decades of Doi moi (renewal), our entire Party, people, and army are striving with determination to successfully accomplish the five-year socio-economic development plan for the 2021–2025 period, and to achieve further outstanding accomplishments to welcome the upcoming Party Congresses at all levels, in the lead up to the 14th National Party Congress. With the mettle, intelligence, and strength of Vietnam, we secured the historic Great Spring Victory; and we are firmly confident that we will continue to attain even greater victories and remarkable achievements in the new era of prosperity, civilisation, and national rise, building our country that is “more dignified and beautiful", standing shoulder to shoulder with the powers of the five continents, fulfilling the aspirations of President Ho Chi Minh and of the entire nation.

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Vietnam Economic Times / VnEconomy / Tap chi Kinh te Viet Nam captured key perspectives from regulators, businesses, and economic experts attending the Vietnam Connect Forum 2025, highlighting the need for institutional reforms focused on cutting administrative procedures and adopting tailored policies for different FDI groups.

Mr. Nguyen Anh Tuan, Deputy Director General, Foreign Investment Agency, Ministry of Finance

The FDI sector has become an indispensable part of Vietnam’s economic development over the years.

The country has been effectively implementing a selective investment attraction policy in line with the orientations set out in Resolution No. 50-NQ/TW 2019 from the Politburo on completing policies for foreign investment cooperation by 2030. As a result, we have to date attracted more than $510 billion in investment from 150 countries and territories, with over 42,700 projects currently in operation. Notably, many FDI projects are applying high technology, generating high added value, and contributing to the promotion of technology transfer - one of the key goals of the foreign investment attraction policy.

However, in essence, FDI attraction activities have yet to achieve the desired effectiveness. Several bottlenecks remain, especially in terms of the links between FDI enterprises and domestic businesses. Vietnam is currently facing uneven investment quality, a low proportion of projects in foundational industries such as raw material production, and a technology transfer process that still falls short of expectations.

In this context, in addition to continuing to advance the three strategic breakthroughs of institutional reform, human resources, and infrastructure, I believe a decisive factor is the need to maintain investor confidence and retain foreign investors in Vietnam. We must create a transparent, fair, and highly predictable investment environment that provides a solid foundation for investors to feel secure in expanding their operations.

At the same time, the government is also studying and gradually refining breakthrough policies aimed at promoting new growth models and seeking development drivers in priority sectors such as high technology, the semiconductor industry, and AI.

Retaining investors is not solely the responsibility of the government or the National Assembly, but also that of the FDI business community itself. Vietnam is an attractive destination, but to truly engage and grow sustainably here, FDI enterprises must accompany the country and share a common vision. I hope that foreign investors will genuinely consider Vietnam their second home and work hand-in-hand with domestic businesses towards the shared goal of long-term, sustainable development.

Mr. Bui Khanh Nguyen, Vice President of Public Affairs at Coca-Cola Beverages Vietnam

Over the past three decades, we have witnessed an extraordinary transformation in Vietnam’s business landscape. When we first entered the market, concepts like centralized industrial parks or eco-industrial parks were virtually unheard of. Today, those ideas have taken root and are evolving rapidly, reflecting Vietnam’s dynamic economic progress.

At Coca-Cola, sustainable development is not just a compliance requirement, it’s a core business strategy. We view sustainability as essential to the long-term success of our company and the well-being of the communities we serve.

In many areas, we have proactively taken the lead, even ahead of regulatory frameworks. For instance, with Extended Producer Responsibility (EPR), we have voluntarily adopted responsible practices for many years, well before national mandates were in place. However, in other areas, such as transitioning to renewable energy, legal and regulatory constraints still hinder our ability to move at the pace we aspire to.

This experience has reinforced an important lesson: sustainability cannot be achieved by businesses acting alone. It requires a collaborative ecosystem - an integrated supply chain, shared commitments, and a supportive policy environment. Coca-Cola’s own supply chain in Vietnam involves more than 20,000 partners, ranging from raw material suppliers and packaging companies to transport providers and recycling initiatives.

To unlock greater impact, we believe Vietnam would benefit from a unified roadmap for sustainable development. A shared national framework would enable businesses like ours to align more effectively with government priorities and direct our resources where they matter most. Currently, we are acting based on what we think is needed, but clarity from a common strategy would empower us to contribute more decisively.

Coca-Cola is ready and willing to walk alongside Vietnam on its journey towards a sustainable future. We see this country not only as a market but as our home, and we are committed to growing together, responsibly and sustainably.

Mr. Seck Yee Chung, Vice President, Singapore Chamber of Commerce in Vietnam (SingCham Vietnam)

I greatly appreciate Vietnam’s ongoing efforts to attract investment in the manufacturing sector while progressively enhancing its value chains, improving infrastructure, and developing its human resources. Additionally, the signing of free trade agreements (FTAs) and various bilateral and multilateral trade accords has further increased the country’s appeal to foreign businesses.

However, to continue improving the investment environment and strengthening competitiveness, Vietnam needs to further refine its legal framework, including regulations and legislative provisions governing business and investment activities.

Beyond manufacturing, I believe Vietnam holds strong potential to attract FDI in other fast-growing sectors such as healthcare, wellness, finance, tourism, and hospitality. These industries are expanding rapidly and present significant investment demand in the near future.

Despite Vietnam being recognized as a highly-promising investment destination, in practice, many investors still encounter challenges due to cumbersome and non-transparent administrative procedures. To overcome these barriers, it is essential to simplify and clarify approval processes, making them more streamlined and business-friendly.

Therefore, we will continue to closely monitor both domestic and international investment environments and actively collaborate to propose solutions aimed at improving policies, legal frameworks, and administrative procedures. We hope that these obstacles will gradually be removed in the near future, paving the way for foreign enterprises to operate more effectively and sustainably in Vietnam.

Mr. Scott Fritzen, President, Fulbright University Vietnam

Vietnam’s total FDI inflows reached $36 billion in 2024, equivalent to around 10 per cent of the country’s GDP. The FDI sector employs roughly 35 per cent of the national workforce. Despite these impressive results, Vietnam continues to face challenges in establishing meaningful links between FDI enterprises and domestic companies. Currently, only about 18 per cent of local businesses are engaged in global value chains; a figure that has even declined in recent years.

Looking at export growth, the contributions of domestic enterprises remain modest in both formal and informal contexts. The spillover effects from FDI remain limited, primarily due to weaknesses in Vietnam’s private sector. In addition, access to land for business operations is still constrained by complex administrative procedures.

Financial access also presents a significant barrier for small and medium-sized enterprises (SMEs). Though SMEs contribute around 40 per cent of GDP, their access to bank loans only meets about one-third of their investment needs.

The procurement process remains complicated for SMEs, particularly in the public sector. These administrative gaps inadvertently constrain the ability of domestic businesses to scale up.

Notably, Vietnam has long considered FDI a key driver of economic growth, which also makes the economy vulnerable to geopolitical tensions. While Vietnam, along with other nations, is currently exempt from retaliatory tariffs from the US, it is crucial to keep a close watch on shifting dynamics among major global powers. In light of this, Vietnam must strengthen its internal capabilities by advancing both capital and human resources development.

As manufacturing shifts toward high-skill industries such as semiconductors to attract new waves of foreign investment, promoting innovation, improving productivity, and expanding a skilled labor pool are now more important than ever.

Vietnam has a clear advantage in educational attainment, but there remains a critical gap in the availability of high-level specialists. The share of the population holding bachelor’s degrees is still low, at around 10 per cent. Vietnam aims to train 50,000 chip engineers by 2030, yet only around 5,000 have been trained to date. This is a major challenge going forward.

Therefore, Vietnam must significantly invest in education, reform partnership models, and ensure that marginalized groups, including ethnic minorities and those in rural areas, have access to technological development. These efforts are essential in enhancing the overall quality and competitiveness of the national workforce.

Mr. Nguyen Ba Hung, Chief Economist, Asian Development Bank (ADB) in Vietnam

We need to recognize that FDI enterprises in Vietnam are not homogeneous in their objectives or development motivations. As such, policies and support mechanisms must be tailored to the specific needs of different groups. Broadly, these FDI businesses can be categorized into two main groups.

The first comprises export-oriented FDI enterprises. These are foreign investors who come to Vietnam to manufacture primarily for international markets rather than for domestic consumption. Most of these firms operate as part of global supply chains. They capitalize on Vietnam’s advantages, including an abundant, high-quality, and cost-effective workforce, efficient infrastructure, and a broad network of free trade agreements (FTAs) that offer preferential tariffs for exports from Vietnam.

Vietnam can be considered an attractive destination for FDI operating under this model. In fact, the FDI sector currently accounts for about 70 per cent of the country’s total export turnover, indicating its significant operational effectiveness.

However, a major challenge lies in the limited links between FDI firms and domestic enterprises. One key reason is that many foreign corporations have already established global supply chains prior to entering Vietnam, and they tend to maintain these once operating here. For local enterprises to become part of these supply chains, they must meet a range of stringent requirements, from technological capabilities and management practices to new standards such as those regarding environment, social, and governance (ESG).

An increasing number of global supply chains are integrating ESG criteria, and not only the lead firms but also their suppliers are now expected to comply. This trend represents both an opportunity and a significant pressure point for Vietnamese enterprises. To participate, local businesses must be supported to undergo comprehensive upgrades. In this regard, government support programs, collaboration from FDI firms, and proactive efforts from domestic businesses are all critical.

The second group consists of FIEs targeting the domestic market. These investors recognize the potential of Vietnam’s growing consumer base and invest directly to serve local demand. A prime example is the retail sector, which has attracted substantial FDI inflows in recent years.

However, beyond consumer-driven industries, Vietnam has yet to effectively attract FDI into foundational sectors such as infrastructure. This represents a gap that must be addressed in the country’s investment attraction strategy, particularly if Vietnam aims to improve the quality of its growth and enhance its national competitiveness.

-Vietnam Economic Times / VnEconomy

The project spanning 4.9 km in length and 12 m in width, linking Ha Bac 2 bridge and Ring Road 4

After a long period of being delayed and unable to be put into use, the DT.277B provincial road in Bac Ninh province, connecting with Ha Bac 2 bridge in Bac Giang province, has finally been opened to traffic.

The project spanning 4.9 km in length and 12 m in width, linking Ha Bac 2 bridge and Ring Road 4, is part of a broader investment initiative to construct provincial roads DT.295C and DT.285B, which connect Bac Ninh city through industrial parks to the new National Highway 3.

The entire road network spans approximately 20.2 km, with a total investment of nearly VND1.5 trillion ($57.6 million), and was inaugurated by the Prime Minister in July 2023.

This infrastructure project enhances transportation connectivity in the northeastern region, linking Bac Ninh with the national highway system, facilitating smoother access to the Hanoi metropolitan area, Bac Giang, and Thai Nguyen provinces.

Speaking at the ceremony, Mr. Vuong Quoc Tuan, Chairman of the Provincial People's Committee, highlighted the strategic importance of the project, stating: “In recent years, Yen Phong district and Viet Yen town have emerged as dynamic ‘industrial capitals’ of the North, housing large-scale industrial parks and serving as production hubs for leading global corporations such as Samsung, Amkor, Goertek, and Foxconn."

"The completion and commissioning of Ha Bac 2 bridge holds great significance, fostering connectivity in the industrial production chain between the two localities, solidifying their position as a key industrial region with national competitiveness,” he added.

-Phạm Long

The early start of negotiations signals that Vietnam is among a group of countries prioritized by the U.S

A Vietnamese technical delegation is scheduled to visit the US on May 1 to engage in trade discussions and negotiations with relevant U.S. agencies, According to Mr. Do Ngoc Hung, Trade Counselor at the Vietnam Trade Office in the US.

He made the announcement at the monthly trade promotion coordination conference between the Ministry of Industry and Trade and Vietnam’s overseas trade offices on April 28.

According to Mr. Hung, the early start of negotiations signals that Vietnam is among a group of countries prioritized by the US, alongside India, the United Kingdom, Japan, South Korea, and Indonesia. 

“This shows that the US sees Vietnam as an important, serious, and well intentioned partner, and that Vietnam acknowledges the US’s concerns in a substantive manner,” he said.

Prior to temporarily maintaining a 10% import tariff for all nations, the administration of U.S. President Donald Trump had imposed steep reciprocal tariffs on its trading partners, with Vietnam facing a rate of 46%.

On April 23, Vietnamese Minister of Industry and Trade Nguyen Hong Dien, who heads the Vietnamese negotiating delegation, held a phone talks with Mr. Jamieson Greer, Chief Trade Representative of the US, to officially initiate bilateral economic and trade negotiations.

In an official press release, the Office of the United States Trade Representative (USTR) described the phone talks as productive.

Mr. Hung interpreted the move as a sign that the USTR is taking Vietnam’s proposals and negotiation contents seriously.

Trade Counsellor of the Vietnam Trade Office in the US Đo Ngoc Hung (Right). Source: MoIT.

During the conference, Mr. Hung recommended that key Vietnamese agencies like the Ministry of Foreign Affairs and the Ministry of Industry and Trade intensify their efforts to advocate and negotiate for the resolution of retaliatory tariffs. He also urged the implementation of a clear roadmap to protect Vietnam’s trade interests in the face of potential US. tariff actions.

According to recent statistics, Vietnam’s exports to the US reached $31.4 billion in the first quarter of the year, a 22 per cent increase compared to the same period last year. Meanwhile, imports from the US. stood at $4.1 billion, up 21 per cent.

Mr. Hung noted that the trade structure between the two countries is complementary rather than directly competitive, providing U.S. consumers with increasing access to Vietnamese goods that offer improving quality and competitive prices.  For example, the retailer Target, one of the biggest retail chains in the US,  is sourcing some 30 per cent of its goods from Vietnam.

Mr. Hung emphasized that the imposition of reciprocal tariffs by the US adds volatility and risk to global trade while also creating difficulties for the US market itself. 

“Many major US corporations and retail distribution chains have expressed support and confidence that Vietnam will reach a suitable agreement, whether through the removal or adjustment of these tariffs,” Mr. Hung added.

-Viet An

From a 100 sq m showroom to a regional leader, Hoshima International pioneers innovation, automation, and sustainable growth in garment manufacturing.

From a modest 100 sq m space to a 1,500 sq m technology center, Hoshima International has grown over the past two decades into a well-known name in garment automation across Southeast Asia. This transformation has been driven by a team with 25 years of experience, which has helped shape the company's innovative and adaptable approach, laying the foundation for its strong reputation in the industry.

Humble beginnings: Built on service and vision

Founded in 2005, Hoshima International began with a simple mission: to provide high-quality industrial sewing machines to Vietnamese garment factories. Back then, the company operated out of a small showroom, just 100 sq m in size, but even in those early days, it stood out for its commitment to understanding factory needs and delivering reliable, timely service.

As demand grew and the Vietnamese textile industry matured, Hoshima International evolved alongside it. What started as a local business quickly became a regional force. By focusing on customer-centric solutions, the company laid the foundation for long-term growth in an increasingly competitive field.

A decade of expansion and innovation

By the mid-2010s, Hoshima International’s reputation for responsive service and reliable machinery had made it a trusted partner not only in Vietnam but across Southeast Asia. In India, one of the world’s largest garment exporters, Hoshima International began gaining ground in 2018 by offering high-performance automation products tailored to local production needs. By 2022, its cutting-edge solutions also found strong demand in Indonesia, where factories sought more efficient and modernized systems. This steady expansion reflects the company’s ability to earn trust and enter new markets through quality, innovation, and customer-focused service.

Now present in Singapore, Vietnam, India, Pakistan, the Philippines, Indonesia, Cambodia, Turkey, and Italy, Hoshima International is emerging as a regional powerhouse with a global outlook. Its expanded 1,500 sq m RD and operations center in Ho Chi Minh City, unveiled during the Grand Opening Tech Display 2025, is a clear testament to that progress.

“This showroom represents more than growth; it’s our ongoing commitment to empowering factories with automation, innovation, and results,” said Mr. Chong Han Kiong, Founder and Managing Director of Hoshima International.

A technology hub for the future of garment production

The newly expanded facility, located in the Tan Thuan Export Processing Zone in Ho Chi Minh City, is one of the largest private garment automation Group Operation Development Center in Southeast Asia. The space is equipped with state-of-the-art systems and serves as both a demonstration hub for cutting-edge technologies and a live experience center, where factory owners, production managers, and engineers can see real-world applications firsthand.

During the exhibition on April 9–12, 2025, over 1,200 guests from more than 14 countries—including Vietnam, India, Indonesia, Malaysia, Bangladesh, and China gathered to witness the unveiling. Attendees experienced live demos, toured five specialized technology zones, and explored more than 80 automation solutions covering the entire garment production cycle, from cutting and sewing to finishing and packaging. The event also introduced Hoshima International’s expanded capabilities in logistics and warehousing, as well as its latest software solutions, marking a step further in its vision of smart, fully integrated end-to-end garment factories.

Hands-on with innovation: A featured machine draws crowds at the Grand Opening Tech Display 2025

Putting people first: A global team with local insight

Much of Hoshima International’s success can be credited to its dynamic team, which blends global experience with local expertise. With professionals stationed across multiple countries, the company is uniquely positioned to offer tailored support in diverse market contexts.

At Hoshima International, talent development is regarded as a strategic cornerstone of long-term success. The company places strong emphasis on aligning individual strengths with the right roles, an approach that has helped cultivate a globally diverse and agile team. This commitment to people, not just products, continues to drive innovation and collaboration, giving Hoshima International a distinct edge in the evolving garment automation landscape.

This approach has helped build strong relationships across borders, highlighting the company’s belief that technology is important, but it’s the people behind it who make the real difference.

Service beyond sales

At the core of Hoshima International’s long-standing reputation is its dedication to customer support. More than just a supplier, the company views itself as a partner in its clients’ success. Whether it’s offering customer relationship management (CRM)-driven solutions, conducting regular maintenance, or providing startup packages for new customers, Hoshima International continues to set service benchmarks in the automation sector.

One of its newest initiatives is the upcoming Technical Training Academy, which is set to launch in the third quarter of 2025. The academy will provide hands-on training to local engineers and production teams, demonstrating Hoshima International’s commitment to its customers’ success beyond the point of purchase.

 Smart Warehousing Logistics streamline production at the Grand Opening Tech Display 2025

Impacting an entire industry

As garment manufacturers across Asia face increasing pressure to modernize, reduce waste, and improve output, Hoshima International has emerged as a key enabler of digital transformation. Its solutions help bridge the gap between traditional workflows and Industry 4.0-ready systems—making smart factories not just a concept, but a reality.

By prioritizing automation, precision, and flexibility, Hoshima International empowers businesses to respond to shifting market demands and build more resilient, future-proof production models.

“Automation is not about replacing people; it’s about helping people do better work, faster and more accurately,” explained Mr. Chong Han Kiong, Founder and Managing Director of Hoshima International. “We’re here to guide that transition, every step of the way.”

With innovation, partnership, and a clear vision, Hoshima International continues to shape the future of garment manufacturing across Asia.

-Diep Linh

The center is envisioned to become a hub for innovation, green finance, and sustainable investment in the Asia-Pacific region.

The Standing Board of Da Nang city's Party Committee has issued Resolution No. 29 on the development of an International Financial Center in the central city.

Under the resolution, which was dated April 26, 2025, the Da Nang Financial Center is a strategic project serving national interests and the city’s development goals, in line with the Politburo's Resolution No. 43 on devvelopment of Da Nang city by 2030, with a vision towards 2045.

Per Resolution 29, the city aims to establish and operate the Da Nang Financial Center effectively by 2030, attracting strategic partners, financial institutions, support services, legal service providers, and accounting and auditing firms, both domestic and international.

The resolution emphasizes the need to maximize resources from central authorities, the city, and the broader society as a whole. Internal resources are deemed decisive, strategic, fundamental, and long-term, while external resources are considered important and breakthrough factors.

Da Nang is determined to seize every opportunity, leverage its advantages, and fully capitalize on special policies, mechanisms, and orientations issued by the Politburo, the Government, and the National Assembly to ensure the effective development of the financial center.

The center is envisioned to become a hub for innovation, green finance, and sustainable investment in the Asia-Pacific region; a regional center for financing and supporting the development of small and medium-sized enterprises (SMEs) and startups; and a center for digital payment and financial innovation based on advanced technologies.

The Da Nang Financial Center will focus on specialized areas such as green finance, trade finance to support innovative enterprises and SMEs, financial services for non-residents (such as offshore financial services), and cross-border trade activities connected with free trade zones, high-tech parks, and open economic zones.

During the 2025–2030 period, Da Nang will work to attract strategic partners, financial conglomerates, and institutions both at home and abroad to invest in the center.

The city also seeks to promote investment in both hard and soft infrastructure at the financial center, closely linked to Da Nang’s Free Trade Zone and key projects such as the urban railway system and coastal reclamation developments in Da Nang Bay.

-Viet An

These projects involving in production of key products such as software, semiconductors and AI products.

The Government has proposed the National Assembly (NA) to exempt and reduce land rent for projects involved in the production of key digital technology products such as software, semiconductors and artificial intelligence (AI).

The Government presented the proposal during at a recent session of the NA Standing Committee.

The policy is also proposed for innovation centers and research institutes, digital technology research and development centers, concentrated digital technology zones, and the National Innovation Centers.

Additionally, the Government proposed a 30 per cent reduction in land rent payable in 2025, with broader application than in 2024. The aim was to support citizens and businesses in developing production and business activities, striving to achieve an economic growth target of 8 per cent in 2025.

After hearing the report, the NASC agreed in principle to allow the Government to issue a decree stipulating additional cases eligible for land use and land rent exemptions and reductions in 2024, and to expand the scope further in 2025.

 

-Bạch Dương

A working session at the Vietnam Connect Forum 2025 involving Mr. Tran Luu Quang, Secretary of the Party Central Committee and Head of the Party Central Committee's Commission for Policy and Strategy, and representatives from foreign enterprises and associations in Vietnam emphasized Vietnam’s ongoing commitment to fostering a robust economic environment and supporting FDI growth.

On April 23, Mr. Tran Luu Quang, Member of the Party Central Committee and Head of the Central Commission for Policy and Strategy, held a working session with leaders of foreign business associations and executives from leading corporations, foreign-invested enterprises (FIEs), and foreign investors currently operating in Vietnam. The session was part of the Vietnam Connect Forum 2025, jointly organized in Hanoi by the Institute for Policy and Strategy at the Central Commission for Policy and Strategy, in collaboration with Vietnam Economic Times / VnEconomy / Tap chi Kinh te Viet Nam, under the Vietnam Economic Association.

During the session, representatives from the business community commended the consistent efforts of the Communist Party of Vietnam and the Vietnamese Government in fostering a conducive investment environment and attracting FDI. Business leaders also engaged in candid discussions, sharing the challenges they continue to face in doing business in the country.

Seeking clearer investment pathways

Key concerns raised during the session included issues related to the regulatory framework, administrative procedures, legal provisions, and the lack of sufficient and synchronized infrastructure. Furthermore, the persistent shortage of skilled workers, particularly high-quality human resources, was identified as a pressing constraint. Additionally, representatives from FIEs also touched on how the US’s reciprocal tariffs will impact supply chains and the export performance of enterprises across several key sectors.

They put forward practical proposals and recommendations aimed at strengthening collaboration between Vietnam and the investment community. Those suggestions focused on identifying timely and effective solutions to address existing obstacles and support sustainable business operations moving forward.

According to figures from the Foreign Investment Agency, as of the end of 2024, South Korea remained Vietnam’s largest foreign investor, with 10,128 projects and total registered capital exceeding $92 billion, or 24.11 per cent and 18.22 per cent, respectively.

Amid the current global economic landscape, Mr. Ko Tae Yeon, Chairman of the Korean Business Association in Vietnam (KoCham), noted that many FIEs are re-evaluating Vietnam’s competitiveness as a top investment destination. “Companies are shifting their strategies from focusing solely on efficiency to prioritizing diversification,” he emphasized. This approach not only aims to mitigate risks but also reflects a broader structural transformation across industries.

He expressed a wish for more concrete policies to support research and development (RD), including RD workforce training, tax incentives, and visa facilitation for foreign technical experts. In the logistics sector, he stressed the urgent need to upgrade infrastructure to reduce operational costs.

To address the labor market mismatch, KoCham recommends enhancing coordination between enterprises and vocational training centers, implementing tailored internship programs, providing scholarships, and improving living conditions such as dormitories. Financial assistance for exporting firms and deferred tax inspections would also be highly beneficial during this challenging period. “Most importantly, to resolve practical issues, we propose establishing a One-Stop Solution Center,” Mr. Ko said. “In parallel, we call for the creation of a formal dialogue mechanism between the government and the business sector to facilitate constructive feedback from FDI enterprises on policy changes.”

Among more than 100 countries and territories with newly-licensed investment projects in Vietnam in 2024, Singapore ranks as the largest investor with nearly $10.21 billion, accounting for 26.7 per cent of total capital. Mr. Seck Yee Chung, Vice Chairman of the Singapore Chamber of Commerce in Vietnam (SingCham), warned that the proposed US tariffs are likely to disrupt critical supply chains for both businesses and US consumers, as Vietnam has emerged as a key manufacturing hub for major global players.

To sustain this position, Mr. Chung emphasized that Vietnam must continue to improve and reform administrative bodies, streamline procedures, and simplify the bureaucratic system. Furthermore, efforts should be made to foster a more open business environment and facilitate investment by minimizing or eliminating government approval requirements for FIEs.

Meanwhile, with $1.5 billion in investment in 2024 and a positive business outlook for 2025, the EU is poised to become a key source of FDI, particularly in sectors such as renewable energy, technology, and services. Mr. Bruno Jaspaert, Chairman of the European Chamber of Commerce in Vietnam (EuroCham), emphasized the importance for Vietnam of clearly defining its investment priorities over the next decade, whether to attract the highest volume of capital or the most value-added contributions to national development. “This decision is entirely in Vietnam’s hands,” he said. “It is critical that it clarifies its target investor profile and positions itself as a safe and reliable destination for strategic investment.”

Mr. Jaspaert also recommended that Vietnam consider offering incentives to investors producing goods domestically using 100 per cent locally-sourced materials, including tax benefits. Such measures would serve as powerful drivers in attracting more investors in the near future.

In addition, the EU-Vietnam Free Trade Agreement (EUVFTA) has helped elevate the EU to sixth place among Vietnam’s largest FDI sources and will continue to fuel the expansion of European business activities in Vietnam. Mr. Jaspaert stressed that beyond the EU, Vietnam should maximize the benefits of all its FTAs to enhance its competitiveness and attractiveness among international investors.

Voices from key industries

Retail remains one of the fastest-growing sectors in Vietnam, but businesses are encountering significant practical challenges. Mr. Olivier Langlet, CEO of Central Retail Vietnam, pointed out that navigating the legal framework, especially the Land Law, continues to pose considerable obstacles.

Given Central Retail’s long-term investment commitments in Vietnam, he proposed expediting and streamlining the retail licensing process. Under the current system, businesses are required to commit substantial resources prior to application and approval, creating heightened risks and uncertainty. He recommended allowing license applications to be submitted only after securing land use rights and construction permits, with parallel assessments conducted during project development.

Moreover, the limited availability of land for modern retail development presents another pressing issue. Mr. Langlet called for prioritizing and expanding land allocation for commercial and service purposes, enabling retail growth and stimulating broader economic activity. Ambiguities in new laws, such as the Land Law 2024, and fire safety regulations have also caused delays and investment instability. He emphasized the urgent need for clear, consistent guidance for local authorities to ensure uniform enforcement and foster investor confidence.

Mr. Michael Vu Nguyen, Country Director of Boeing Vietnam, highlighted several long-term measures to strengthen Vietnam’s aerospace ecosystem. These include workforce training, particularly in manufacturing, reduced import tariffs on aviation components, and stronger collaboration between FDI firms and domestic businesses.

Regarding US reciprocal tariffs, he suggested that Vietnam address the root cause of the tariffs: its trade imbalance. Vietnam Airlines is currently in the process of purchasing 50 Boeing aircraft, with a total value of around $11 billion. Meanwhile, Vietjet Air is working on a deal to purchase 200 Boeing planes. Several other aircraft contracts between the two countries’ partners are also under discussion.

Ms. Hoang Tri Mai, General Director of Airbus Vietnam, offered two recommendations for Vietnam. First, to institutionalize sustainable development and post-crisis resilience, invest in quality and sustainability rather than quantity, and develop a diversified supply base to help enterprises respond to crises and minimize disruption risks. Second, to invest in infrastructure tailored to the aviation sector’s specific needs, including stable energy sources, specialized logistics, multimodal transport, and green industrial parks. Airbus has been a longstanding partner of Vietnamese aviation. Approximately 200 Airbus aircraft are in operation by carriers such as Vietnam Airlines and Vietjet, representing 65 per cent of the domestic market share.

From a banking standpoint, Mr. Victor Ngo, CEO of UOB Vietnam, believes that amid the uncertainties and shifting world order, the immediate priority is to secure livelihoods by protecting jobs and to retain the existing supply chains and production capacities that Vietnam and FIEs have successfully built over the years.

He highlighted four key areas that are vital for supporting Vietnam’s transition to this new world order. First, the need for measures to support and retain workers in vulnerable industries, ensuring these sectors remain resilient during this period of change. Second, the importance of exploring and expanding new markets to unlock fresh opportunities for growth and diversification. Third, the necessity of incentivizing existing FIEs to continue their operations in Vietnam, leveraging their expertise and capital for further economic development. And lastly, investment in emerging growth sectors, including the development of Vietnamese brands and products, machinery and equipment, software, consumer electronics, and sustainability efforts such as environmental, social, and governance (ESG) practices.

With the support of the local government and business associations and with the entrepreneurial spirit of the Vietnamese people, Mr. Ngo expressed confidence that Vietnam would emerge stronger and more independent in the years ahead.

Among all sectors, the boom in e-commerce is significantly driving Vietnam’s digital economy. However, domestic e-commerce platforms such as Shopee, Lazada, and Tiki currently face higher compliance costs and more complex procedures than cross-border companies. With global trade facing disruptions, intra-regional integration and diversification of export markets are becoming more vital than ever.

Mr. Jason Bay, Country Director of Sea Limited, Shopee’s parent company, advocated for a more equitable legal framework. He said the forthcoming Law on E-Commerce should ensure a level playing field for all market participants. Cross-border e-commerce platforms and social networks with commercial functionalities must be held to the same standards as domestic e-commerce providers. The Ministry of Industry and Trade is currently drafting this new law, which is scheduled to be submitted to the National Assembly for consideration in October.

Across sectors, businesses are aligned in their call for Vietnam to accelerate infrastructure investments and upgrade human resources training, particularly for priority industries. There is also a growing emphasis on attracting investment into emerging sectors with transformative potential, such as AI, renewable energy, and logistics, all of which are reshaping global value chains.

Engaging with stakeholder feedback

After attentively listening to representatives from the foreign business community, Mr. Quang expressed his appreciation of their contributions to Vietnam’s growth agenda. Key proposals included more selective FDI attraction strategies, focusing on both project quality and investment partners, developing human capital through joint efforts, and encouraging innovation and digital transformation across enterprises. He reaffirmed the pivotal role of the FDI sector in Vietnam’s ongoing economic development.

Mr. Quang also responded directly to each concern raised by the FDI business community. For instance, regarding the retail sector, which he noted benefits from the natural advantage of Vietnam’s 100-million-strong consumer market and thus receives fewer incentives, he said the Party and the government are still actively facilitating administrative procedures. This includes potentially decentralizing land allocation authority to local levels, while encouraging businesses to expand local supply chains to gain cost advantages, provided quality control of input materials is maintained.

In response to businesses concerned about US reciprocal tariff on imports, Mr. Quang emphasized the importance of transparency in export data to the US to ensure accurate figures, while affirming that Vietnam is actively negotiating to secure the most favorable outcomes.

Concluding the working session, he outlined several priority tasks that Vietnam must focus on in the near future. First, comprehensive administrative reform; second, resolving overlaps in legal and institutional frameworks; third, expanding and improving infrastructure; fourth, enhancing human resources, especially high-quality talent, which he described as a critical bottleneck. This, he stressed, requires not only policy support from the government but also strong collaboration and commitment from businesses, treating this as a shared responsibility to ensure timely and quality workforce development aligned with emerging industry standards. And finally, addressing US reciprocal tariff measures, for which businesses need government support to navigate the challenge effectively.

“We have taken note of all your input to inform policy formulation, and I can affirm that Vietnam is embracing a new and more adaptive approach to governance,” he told session participants. “The government will continue to accompany and create favorable conditions for FDI enterprises in Vietnam.” He also emphasized that sustainable economic development must be a two-way endeavor. He called on FDI businesses to actively support domestic enterprises, through technology transfer and enabling deeper participation in global value chains, so that together they can build a more resilient and interconnected economic ecosystem.

 

In 2024, the total value of newly-registered, additional, and contributed capital through equity purchases and stake acquisitions amounted to nearly $38.23 billion. Export turnover from the FDI sector (including crude oil) was estimated at close to $290.8 billion, a 12.2 per cent increase compared to 2023, contributing a remarkable 71.8 per cent of Vietnam’s total export value. The FDI sector also accounted for approximately 17 per cent of total social investment.

Mr. Tran Luu Quang, Member of the Party Central Committee and Head of the Central Commission for Policy and Strategy, reaffirmed the pivotal role of the FDI sector in Vietnam’s ongoing economic development.

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-Ngoc Lan

In 2024, Vietnam-Philippines import-export turnover reached $8.66 billion.

Vietnam and the Philippines are striving to boost bilateral trade turnover to $10 billion in the near future.

Amid Vietnam's efforts to explore more export markets to ease challenges for domestic enterprises, the Philippine market remains poised for further growth.

According to the latest statistics from the Vietnam Trade Office in the Philippines, Vietnam's export turnover to this market in March showed signs of recovery, increasing by 25.3% compared to February, reaching $442.631 million.

The import-export dynamics between Vietnam and the Philippines in Q1 2025 reveal several positive trends.

First, strong growth is seen in agricultural product exports compared to the same period last year.

Second, industrial and processed goods, including key Vietnamese exports such as textiles, telecommunications equipment, and components, have also seen significant improvement.

Third, business communities from both countries have become more proactive in researching, assessing market potential, and expanding their presence.

Lastly, new areas of bilateral cooperation have emerged, particularly in pharmaceuticals, veterinary drugs, and livestock vaccines, including the African swine fever vaccine.

In 2024, Vietnam-Philippines import-export turnover officially surpassed $8 billion, reaching $8.66 billion, an 11% increase compared to 2023.

Despite a decline in Q1 2025 trade figures compared to the same period in 2024, the Vietnam Trade Office in the Philippines forecasted an overall increase in trade turnover for 2025. With strong positive indicators in trade relations, the prospect of reaching $10 billion in bilateral trade remains within reach.

-Phạm Long

The Bai Vot - Ham Nghi and Ham Nghi - Vung Ang sections running through central Ha Tinh province with a total length of nearly 90km.

Two sections of the North-South Expressway project, which run through the central province of Ha Tinh, were officially put into operation on April 28.

The Bai Vot - Ham Nghi section has a total length of 35.28 km, with a total investment capital estimated at over VND7.6 trillion ($301 million). Its construction started in May 2021.

Meanwhile, the Ham Nghi - Vung Ang section has a total length of over 54.2 km, with a total investment capital estimated at more than VND9.7 trillion ($382 million).

They were technically open to traffic on April 19.

Both expressway sections have four lanes with a roadbed width of 17m, allowing a maximum speed of 90 kph.

These two major transport projects are expected to contribute to boosting socio-economic development for the north-central region.

 

-Nguyễn Thuấn

The wharft will increase annual cargo throughput of the International Port to 7 million tons.

Wharf No. 3 of Laos - Vietnam International Port was put into operation in the Vung Ang Economic Zone in central Ha Tinh province on April 28.

The wharf features a 225-meter-long pier capable of accommodating cargo vessels of up to 45,000 DWT. Its throughput capacity is expected at 2.15 million tons per year.

It covers a land area of 43,928 sq.m and water surface of 42,000 sq.m.

Total investment capital was estimated at over VND1 trillion ($38 million).

With the addition of Wharf No. 3 alongside Wharf No. 1 and No. 2, the port's annual cargo throughput will rise from 5 million tons to around 7 million tons. 

 

-Nguyễn Thuấn

The target was set during talks in Hanoi on April 28.

Vietnam and Cambodia set a target of $20 billion in bilateral trade in the future, according to Vietnamese Minister of Industry and Trade Nguyen Hong Dien.

During his talks held with Cambodian Minister of Commerce Cham Nimul in Hanoi on April 28, Minister  Dien remarked that the bilateral trade is not only growing in volume but also improving in quality, with diverse cooperation models, modern distribution channels, and dynamic participation from young entrepreneurs, especially in technology and e-commerce sectors.

The two ministers discussed specific measures to enhance economic and trade cooperation and agreed on several major directions for the future. These include accelerating the development of logistics infrastructure and distribution networks in border areas, rapidly transitioning from unofficial to official trade channels, and continuing strong coordination to combat smuggling and trade fraud in border regions.

They also agreed to work closely on trade promotion programs and business networking while enhancing information sharing and technical cooperation.

-Huyền Vy