Vietnam News Today (Apr. 26): Vietnam-Laos Relations Vital to Revolutionary Cause in Each Country

Vietnam News Today (Apr. 26): Vietnam-Laos relations vital to revolutionary cause in each country; Vietnamese economy to slow in 2025 before rebounding in 2026; Fulbright scholar highlights Vietnam’s miracle development journey following national reunification; Japan aims to strengthen ties with Vietnam in emerging sectors.
April 26, 2025 | 08:19
Vietnam News Today (Apr. 24): Vietnam and United States Kick-Start Negotiations on New Trade Deal
Vietnam News Today (Apr. 25): EU Considers Vietnam Trusted, Prioritized Partner in Asia-Pacific

Vietnam News Today (Apr. 26) notable headlines

Vietnam-Laos relations vital to revolutionary cause in each country: State leader

Vietnamese economy to slow in 2025 before rebounding in 2026: World Bank

Fulbright scholar highlights Vietnam’s miracle development journey following national reunification

Japan aims to strengthen ties with Vietnam in emerging sectors

Sweden donates unfolded documentary Victory Vietnam on reunification day

USTR acknowledges Vietnam’s goodwill toward bilateral trade issues

Japan’s political circles respect relations with Vietnam, says lawmaker Obuchi

Song of Triumph captures resonance of Vietnam’s Victory Day on April 30, 1975

Thousands brave rain for rehearsal parade in Ho Chi Minh City

State President Luong Cuong (L) meets former Party General Secretary and President of Laos Choummaly Sayasone. (Photo: VNA)
State President Luong Cuong (L) meets former Party General Secretary and President of Laos Choummaly Sayasone. (Photo: VNA)

Vietnam-Laos relations vital to revolutionary cause in each country: State leader

The relationship between Vietnam and Laos is an invaluable asset and crucial to the revolutionary cause of both countries, State President Luong Cuong affirmed while meeting former high-ranking leaders of Laos in Vientiane on April 25 as part of his two-day state visit to Laos.

At his meetings with Bounnhang Vorachith and Choummaly Sayasone, former Party General Secretaries and Presidents of Laos, Cuong conveyed to them the traditional new year Bunpimay greetings from Vietnam’s Party General Secretary To Lam, Prime Minister Pham Minh Chinh and National Assembly Chairman Tran Thanh Man.

He emphasized that Vietnam always appreciates the valuable contributions of the former Lao leaders to the special Vietnam-Laos relationship and hopes that with their prestige and extensive experience, they will continue to support and contribute ideas to further strengthening and deepening the cooperative relationship between the two Parties and countries, cited VNA.

The former Lao leaders congratulated Vietnam on its great achievements in recent times, including its increasingly enhanced role and position in the international arena. They showed their belief that the special solidarity between the two Parties, States and peoples will continue to be strengthened and bear fruit in the coming time.

They also welcomed the two countries’ friendship exchange programme held this time, adding that this is a meaningful activity to show gratitude to Lao comrades who have stood shoulder to shoulder with their Vietnamese peers, and together recall the heroic memories of the two peoples in the struggle for national independence and defence in the past as well as in the nation building and development at present.

The leaders agreed on the importance of paying further attention to educating the people, especially the young generation, about the tradition of the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos; and continuing to stand side by side and coordinate closely to gain even greater victories.

Vietnamese economy to slow in 2025 before rebounding in 2026: World Bank

The World Bank East Asia and Pacific Economic Update released on April 25 shows after securing 7.1% growth in 2024, Vietnam’s GDP growth is projected to slow to 5.8% in 2025 given increased uncertainties due to recent trade policy shifts and a projected slowdown of global growth.

World Bank experts say, Vietnam, a trade-oriented economy, is particularly exposed to ongoing shifts in global trade policies and associated uncertainty which would impact exports, investment, and growth. The United States remains the largest export destination of Vietnam, accounting for 30% of total exports, compared to 15% to China, 13% to the European Union and 8% to other ASEAN countries, while China accounts for 38% of its imports.

The World Bank highlights several external risks that could negatively affect Vietnam’s economy in the near future. These include unfavorable shifts in trade policies, slower-than-expected global growth, and heightened uncertainty in global policies, all of which could impact the country’s export growth and reduce private investment inflows, including foreign direct investment.

Furthermore, uncertainty could further dampen consumer confidence and spending, which have already been lagging behind GDP growth in recent years. At the same time, vulnerabilities in the financial sector persist, with the average loan-loss coverage ratio among 26 banks dropping to 83%, down from 150% in 2022. While the government has the fiscal capacity to stimulate demand, the effective execution of fiscal measures may be hindered by chronic under-disbursement in public investment.

World Bank experts predict that Vietnam’s GDP growth will decrease to 5.8% in 2025, driven by growing trade policy uncertainty. However, the medium-term growth outlook for the country remains optimistic, with GDP expected to recover to 6.1% in 2026 and 6.4% in 2027.

Although real estate transactions have stayed subdued, they are expected to recover by 2025-26. Inflation is projected to stay within the target range of 4.5-5%, as oil and commodity prices are anticipated to continue to ease. This growth outlook bodes well for poverty reduction efforts in the country, according to VOV.

The manufacturing and processing industry continues to be one of the key drivers of Vietnam's economic growth. (Illustration)
The manufacturing and processing industry continues to be one of the key drivers of Vietnam's economic growth. (Illustration)

Yet, external economic uncertainties present risks, potentially leading to job losses among unskilled workers and putting recent poverty reduction achievements at risk. The outlook is increasingly vulnerable to downside risks, particularly from external factors such as unfavourable shifts in trade policy, slower-than-expected global growth, and global policy uncertainty.

Given Vietnam’s reliance on external factors, unexpected disruptions in trade policy could negatively impact exports and overall growth. In addition, weaker-than-expected global growth could reduce external demand, affecting both exports and private investments, including foreign direct investment. Higher-than-anticipated policy uncertainty could further hinder investment and economic growth.

World Bank experts suggest that policy measures should prioritise expanding public investment, addressing fiscal sector risks, and implementing structural reforms. Although there is limited room for monetary policy intervention, fiscal policy can still play a key role in supporting growth, particularly through investments aimed at addressing emerging infrastructure gaps.

Building on recent reforms, such as the revision of the Law on Credit Institutions, further actions to mitigate risks and vulnerabilities in the financial sector are essential to ensure its resilience and stability.

Furthermore, accelerating structural reforms to enhance the regulatory framework in key sectors like information and communication technology, electricity, and transport, as well as promoting a green economy, developing human capital, and improving the business environment, will be critical to sustaining long-term growth, say World Bank experts.

Fulbright scholar highlights Vietnam’s miracle development journey following national reunification

As Vietnam is marking half a century since the liberation of the South and national reunification (April 30), Dr. Nguyen Hong Hai, a Fulbright scholar based in the College of Arts and Sciences at American University, has reflected on the country’s extraordinary transformation from a war-torn nation to a respected country in the international arena, a development journey that he described as “truly miraculous” in the face of formidable challenges.

In an interview with the Vietnam News Agency (VNA)'s resident correspondents in Washington D.C, Hai underscored the significance of the April 30 victory that marked the beginning of a peaceful and unified Vietnam. He said that generations of Vietnamese people must be grateful to their predecessors who laid down their lives for the country’s independence.

Following the victory, Vietnam continued facing numerous difficulties, from defending sovereignty in the northern and southwestern borders to protecting maritime sovereignty in the East Sea while enduring blockade and embargo. When Vietnam began its Doi moi (Renewal) process, the world underwent turbulence, with the collapse of the Soviet Union and Eastern European socialist bloc resulting in the cut-off of assistance for the country’s post-war recovery and reconstruction efforts.

Thus, while broadly spanning 50 years since reunification, Vietnam's development trajectory more narrowly dates from the Doi moi in 1986. Despite such difficulties, achieving the middle-income status within just four decades, and now aiming to become an upper-middle-income developing country and even a modern industrialized nation by 2045, represents what Hai called truly miraculous progress, reported VNA.

Vietnam has made an extraordinary transformation from a war-torn nation to a respected country in the international arena. (Photo: VNA)
Vietnam has made an extraordinary transformation from a war-torn nation to a respected country in the international arena. (Photo: VNA)

He elaborated that within just over two decades after Doi moi, Vietnam lifted tens of millions of people out of poverty while steadily enhancing its international position regarding the areas of politics, diplomacy and economy, stressing the country’s development trajectory has been praised by the world as a model for many developing nations, particularly those facing similar challenges and having the starting points as Vietnam once did.

The scholar held that beyond policy directions and the leadership of the Communist Party of Vietnam that consistently prioritises national interests, the will and aspirations of the Vietnamese people have played a crucial role in bringing the country to its current level of development. No nation has a stronger desire for prosperity than the Vietnamese people.

He believed that the policies and appeals from Party and State leaders in propelling Vietnam into a new era of prosperous development align perfectly with the current context, meeting the aspirations of the entire nation.

Vietnam boasts numerous advantages to realize its aspiration, including social consensus, sound development policies, foundation built on nearly four decades of Doi moi – a launching pad to bring the economy to new heights, stable political and social system, and strategic and economic position.

However, Hai said, the strategic and geopolitical position makes Vietnam susceptible to both direct and indirect influence from competition among powers in the region. Besides, human resources and infrastructure relative to high-level development requirements, and global instability pose other challenges for the country.

He expressed his confidence that with sound diplomatic, political, and trade policies, Vietnam will certainly overcome these barriers. Maintaining a consistent foreign policy of diversification and multilateralization of external relations and being a reliable friend and partner of the international community, will help Vietnam concretise its aspiration of building a peaceful, unified, independent, and powerful nation that can stand shoulder to shoulder with world powers, fulfilling President Ho Chi Minh's wish.

Japan aims to strengthen ties with Vietnam in emerging sectors

In a press briefing ahead of Japanese Prime Minister Ishiba Shigeru's upcoming official visit to Vietnam, Ambassador Ito emphasized that strengthening relations with Vietnam is a cornerstone of Japan's foreign policy.

The visit is expected to reaffirm the shared commitment between the two countries to enhance cooperation in critical areas such as security and defense, economic growth, and addressing both regional and global challenges.

Ambassador Ito highlighted Japan's focus on advancing high-level diplomacy to promote its "Free and Open Indo-Pacific" strategy, which upholds a rules-based international order.

Praising Vietnam's rapid reforms under the leadership of General Secretary of the Communist Party of Vietnam Central Committee To Lam, the Ambassador noted that the ongoing transformation presents an opportunity for Japan to deepen its engagement. "This is a new era for Vietnam," Ito said. "Japan is eager to support this journey and contribute to peace and prosperity in the region and beyond," he added.

During the visit, the two nations are expected to discuss the progress of 15 renewable energy projects in Vietnam, with a total investment of up to US$20 billion. These initiatives are part of the Asia Zero Emission Community (AZEC), a Japan-led initiative aimed at promoting decarbonization across the region, VGP reported.

Japanese Ambassador to Vietnam Ito Naoki
Japanese Ambassador to Vietnam Ito Naoki.

Additionally, Ambassador Ito revealed plans to expand cooperation in areas such as semiconductor training, defense technology, labor, tourism, and Japanese language education for Vietnamese citizens.

"The visit by Prime Minister Shigeru will lay the groundwork for in-depth discussions that will further unlock opportunities for collaboration between our two nations," said Ito, stressing the growing importance of bilateral cooperation amid a rapidly changing global landscape.

Earlier, the Vietnamese Ministry of Foreign Affairs reported that Japanese Prime Minister Ishiba Shigeru and his spouse will pay an official visit to Vietnam from April 27 to 29.

In November 2023, the two countries signed a Joint Statement on the Elevation of Relations to a Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the World.

Sweden donates unfolded documentary Victory Vietnam on reunification day

The Swedish Embassy in Hanoi on April 25 handed over Victory Vietnam, an unfolded documentary about Swedish people’s celebration of the April 30, 1975 victory in Vietnam, to the Vietnam Film Institute under the Ministry of Culture, Sports and Tourism.

Victory Vietnam, directed by Bo Ohlen, portrays the jubilant atmosphere in Stockholm, Sweden, on April 30, 1975 as local people took to the street celebrating the end of the war in Vietnam. It highlights Swedish people singing songs of peace, waving banners in support of the National Liberation Front and expressing solidarity with the Vietnamese people.

Alongside vibrant footage of parades and heartfelt speeches, the documentary also documents political and material support from the international solidarity movement.

Speaking at the handover ceremony, Swedish Ambassador Johan Ndisi emphasized that the documentary reflects the profound friendship between Sweden and Vietnam, VOV reported.

Victory Vietnam, directed Bo Ohlen, portrays the jubilant atmosphere in Stockholm, Sweden, on April 30, 1975 as local people took to the street celebrating the end of the war in Vietnam.
Victory Vietnam, directed by Bo Ohlen, portrays the jubilant atmosphere in Stockholm, Sweden, on April 30, 1975 as local people took to the street celebrating the end of the war in Vietnam.

“It reminds us that during those difficult times, people around the world, including in Sweden, stood up in support of Vietnam. Through this film, we not only witness the bravery and resilience of the Vietnamese people but also embrace universal values of peace and solidarity,” he said.

He said he hopes that Victory Vietnam will continue to inspire future generations to learn from the past and build a future based on mutual respect and cooperation.

Vietnamese Deputy Minister of Culture, Sports and Tourism Ta Quang Dong described Victory Vietnam as a valuable documentary as it authentically portrays the friendship and support of the Swedish people for Vietnam during a historic period.

“We are proud to preserve this film as part of our cultural heritage for future generations,” he stated.

Participating virtually in the ceremony, director Bo Ohlen shared, “When I made Victory Vietnam, I didn’t just want to capture a historic event. I wanted to express the powerful spirit of solidarity in Sweden at that time. This film is a heartfelt tribute to the people of Vietnam and your fight for independence, as well as to the international community’s support.”

“I’m very happy that the film has become part of Vietnam’s national archives. I hope it will continue to spread the message of friendship and international solidarity, especially in challenging times.”

The handover of the documentary coincides with the 50th anniversary of the liberation of the South and national reunification in Vietnam (April 30, 1975 – 2025).

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