Luxembourg Media Highlights Cooperation Potential with Vietnam

Over the past few days, many Luxembourg news channels have reported on the official visit to Vietnam by Luxembourg Prime Minister Xavier Bettel from May 3-5, assessing that it will contribute to further strengthening the bilateral relationship in the coming time.

Prime Minister Xavier Bettel and Vietnamese businessmen at the Vietnam-Luxembourg Business Forum held in Ho Chi Minh City on May 5. Source: VYEA

The website of the Luxembourg Government - gouvernement.lu - announced that Prime Minister Bettel's official visit is conducted at the invitation of Vietnamese Prime Minister Pham Minh Chinh on the occasion of the 50th anniversary of bilateral diplomatic relations and in response to PM Chinh's visit to Luxembourg in December 2022.

Tageblatt.lu - a daily newspaper in Luxembourg - ran an article saying that Vietnam has become an attractive trade partner globally. Under the leadership of the Communist Party of Vietnam, the Southeast Asian nation has opened up to the world under reform orientation since the late 1980s and has become an important economy not only in the region but also in the world.

According to the article, in terms of foreign policy, Vietnam wants to have friendly relations with all countries, while in terms of foreign relations, Vietnam relies on independence, and supports bilateral partnerships and multilateralism. Due to geopolitical uncertainties in the world, Vietnam is increasingly sought by Western companies as a new partner, including Luxembourg.

The European Union-Vietnam Free Trade Agreement (EVFTA) has brought many new opportunities for Luxembourgish businesses that operate in the service and financial sectors. Currently, many Luxembourg enterprises are operating in Vietnam.

The article also highlights positive trade relations between Luxembourg and Vietnam in recent years including bilateral trade reaching more than EUR 160 million (about USD 179 million) in 2022, up from 120 million euros in 2020.

Prime Minister Xavier Bettel (L) and Prime Minister Pham Minh Chinh. Photo: VGP

In another article published by the newspaper, it is said that during Prime Minister Bettel's visit to Vietnam, the two sides signed many bilateral cooperation agreements, including those on aviation cooperation, the extension of an agreement to avoid double taxation, and cooperation against climate change through green funds.

Luxembourg Agency for Development Cooperation (LuxDev) will launch two projects worth EUR 2 million in Vietnam. Luxembourg-based airline Cargolux will soon receive a license to fly to Ho Chi Minh City besides Hanoi.

The article quotes Prime Minister Bettel as expressing optimism about the possibility that Luxembourg tourists in the future can enter Vietnam without a visa when the National Assembly of Vietnam considers extending the visa-free policy at its meeting late this month.

Luxembourg's online newspaper virgule.lu has just published an article about the prospect of Vietnamese electric vehicles entering the country's market. The article said Prime Minister Bettel and Minister for Small and Medium-Sized Enterprises and Minister for Tourism Lex Delles visited Vinfast's facility and experienced test driving its electric vehicles.

Other Luxembourg newspapers such as Today.RTL.lu, diegrenzgaenger.lu also reported on Bettel’s visit to Vietnam.

Delegates visits the Temple of Literature in Hanoi. Photo: VNA

During his stay in Vietnam, Bettel held talks with his Vietnamese counterpart Chinh, witnessed the signing of cooperation documents in finance, including an agreement on strategic partnership in green finance between the two countries’ finance ministries, met with the press on outcomes of the talks, had a meeting with National Assembly Chairman Vuong Dinh Hue, and visited the Temple of Literature and the Vietnam Fine Arts Museum.

The PM also visited Ho Chi Minh City, attended and delivered a speech at the Vietnam-Luxembourg Business Forum, visited the Ho Chi Minh Stock Exchange and the War Remnants Museum, and scoped out climate change impacts in the area along Sai Gon River.

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