Vietnam News Today (Dec. 11): Vietnam Fully And Responsibly Adheres to UNCLOS 1982
	Vietnam News Today (Dec. 12): Vietnam Strongly Supports Laos' Renovation Efforts

Chairwoman of the National Assembly’s Committee for Judicial Affairs and President of the Vietnam – Poland Friendship Parliamentarians' Group Le Thi Nga (R) receives Secretary of State at the Ministry of Foreign Affairs of Poland Władysław Teofil Bartoszewski on December 12. (Photo: VNA)

Vietnam treasures traditional ties with Poland: official

Vietnam always attaches importance to the traditional friendship and multi-faceted cooperation and wants to strengthen the relations with Poland – a priority partner of Vietnam in Central Europe, a Vietnamese official has said.

Chairwoman of the National Assembly’s Committee for Judicial Affairs and President of the Vietnam – Poland Friendship Parliamentarians' Group Le Thi Nga made the statement while hosting a reception in Hanoi on December 12 for visiting Secretary of State at the Ministry of Foreign Affairs of Poland Władysław Teofil Bartoszewski.

The Vietnamese people always bear in mind and highly appreciate the valuable support that the Polish people have given to the country during its struggle for national independence and reunification in the past, as well as in its current process of national construction and development, she said, highlighting the political – diplomatic ties between the two countries are developing robustly while economic – trade collaboration have been maintained.

She expressed her confidence that the exchange of delegations, particularly those at high level, help the two countries expand their cooperation in traditional areas while seeking collaboration in new fields. She suggested Bartoszewski and the Polish Ministry of Foreign Affairs support enhanced exchanges via the Party, Government and National Assembly channels and people-to-people exchange so as to strengthen political trust and mutual understanding.

Nga also recommended the two sides to continue close coordination and support for each other at international forums and organisations.

Regarding economic – trade – investment cooperation, the two countries have maintained growth momentum. In the first nine months of 2024, bilateral trade turnover reached over 2.5 billion USD, with Poland emerging as Vietnam's top trading partner in Central and Eastern Europe while Vietnam becoming Poland's most important trading partner in Southeast Asia. Particularly, Poland had advocated the signing of the EU – Vietnam Free Trade Agreement (EVFTA), cited VNA.

Nga took this occasion to ask both sides to proactively carry out the consultation mechanism for bilateral economic cooperation in order to further promote bilateral economic, trade, and investment ties. She also urged Poland to promptly ratify the EU – Vietnam Investment Protection Agreement (EVIPA) and support efforts to have the European Commission’s “yellow card” lifted on Vietnamese seafood.

The Polish official, for his part, affirmed that he will encourage ministries, sectors and branches to step up cooperation with the Vietnamese side in multiple areas.

He expected that a direct air route between the two countries would be launched to facilitate people-to-people exchanges and cooperation.

Russia, Vietnam boost economic-trade and scientific-technological co-operation

Deputy Prime Minister Tran Hong Ha chaired a meeting of the Vietnam Subcommittee of the Vietnam-Russia Intergovernmental Committee on economic-trade and scientific-technical co-operation on December 12 in Hanoi.

At the meeting, leaders of ministries and sectors reported on the implementation of a master plan specifically aimed at cooperation development between the two countries until 2030, as well as some bilateral cooperation contents since the 25th session held back in September.

They also pointed out difficulties and obstacles faced in terms of reviewing, agreeing on, and implementing roadmaps and collaboration projects on industry, agriculture, trade, healthcare, tourism, labor, and education, expanding cooperation in the oil and gas sector and traditional energy sectors, and a project to build the Russian High School and Moscow House in Hanoi, according to VOV.

Deputy Prime Minister Tran Hong Ha chairs the meeting.

The Deputy PM requested ministries and sectors go ahead with closer collaboration efforts with each other and Russian partners to effectively carry out co-operation agreements agreed upon at the 25th session, with a strong determination to remove difficulties and obstacles arising in the implementation of joint programmes and projects. This is along with enhancing the role of the Intergovernmental Committee in promoting linkages between the two countries in general, as well as in the fields of economics, trade, and science and technology in particular.

According to the Minutes of the 25th session of the Vietnam - Russia Intergovernmental Committee on Economic-Trade and Scientific-Technological Cooperation, the two sides agreed on over 100 items in more than 20 areas of co-operation and showed their determination to boost ties across multiple fields ranging from politics-diplomacy, economics-trade-investment, agriculture, industry, energy - oil and gas, information - communications, science - education, culture – sports, tourism, and people-to-people exchanges.

Most notably, the two sides continued to affirm and strive to strengthen political trust, intensify the exchange of high-level delegations and all levels, increase import and export turnover, achieve balanced and sustainable bilateral trade, and create conditions for agricultural products and pharmaceuticals to access each other's markets.

Both sides also agreed to increase the teaching of Vietnamese and Russian in the two countries, maintain scholarships for Vietnamese students, as well as working to attract Russian students to study and research in the nation. This is along with creating favourable conditions for granting visas for Vietnamese citizens to work and travel in Russia.

The Russian side acknowledged the Vietnamese request to create more favourable conditions for the Vietnamese community based in Russia.

FDI remains vital contributor to boost economic growth

Foreign direct investment (FDI) remains one of the most vital drivers of national economic growth, recording remarkable results in 2024.

This area has emerged as a notable highlight, promising to make an important contribution to expanding the economic growth rate by above 7% as targeted for this year. It is expected to set the stage for realising growth objectives outlined for 2025.

Foreign investors poured nearly 4.12 billion USD into Vietnam in November this year. This lifted the total registered FDI in the past 11 months, including new and additional investments, and capital contributions via share purchases, to nearly 31.4 billion USD, marking a year-on-year increase of 1%.

In the January-November period, a total of 21.68 billion USD was disbursed, up 7.1% against the same period last year. Foreign investors invested in 18 out of 21 sectors of the national economy, with the processing and manufacturing industry leading the way.

The Ministry of Planning and Investment’s Foreign Investment Agency (FIA) reported that foreign investment capital has continued to flow into localities with advantages in attracting FDI, including Bac Ninh, Quang Ninh, Ho Chi Minh City, Hai Phong, Hanoi, Binh Duong, Ba Ria – Vung Tau, Dong Nai, Nghe An and Bac Giang. These localities accounted for 79.6% of the total number of new projects and 69.4% of the total registered investment capital nationwide over the last 11 months.

Notably, the northern province of Bac Ninh has emerged as a prominent destination for semiconductor enterprises, with many large-scale projects, VNA reported.

FDI remains vital contributor to boost economic growth. - Illustrative image (Photo: VNA)

The provincial authorities have signed a cooperation agreement with Samsung Display to develop a project worth 1.8 billion USD. As a result, in the first 11 months of the year, Bac Ninh led the country in attracting FDI, with total registered investment capital reaching nearly 5.04 billion USD, accounting for 16% of the nation’s total investment, and more than tripling the same period last year.

The Global Semiconductor Alliance (SEMI) has predicted that Vietnam's semiconductor market is expected to reach 7.01 billion USD by 2028, with an average annual growth of approximately 6.69% during the 2023–2028 period.

Hong Sun, Chairman of the Korean Chamber of Commerce and Industry in Vietnam (KoCham) stated that Vietnam is among the countries with significant opportunities to develop the semiconductor industry. Therefore, large corporations of the Republic of Korea (RoK) are actively exploring opportunities to expand semiconductor supply chains in Vietnam.

Nguyen Van Toan, Vice President of the Vietnam Association of Foreign Invested Enterprises (VAFIE), believed that the trend of foreign investors pouring capital into the semiconductor and electronics industries in recent times is positive.

Particularly, Jensen Huang, Founder and CEO of NVIDIA, recently visited Vietnam for the second time. NVIDIA has partnered with Vietnam to establish an Artificial Intelligence (AI) research and development centre and an AI data centre in the country.

Economic experts said Vietnam is currently the most open economy in the Southeast Asian region, just behind Singapore. Meanwhile, the Vietnamese Government continues to focus on reforms, international integration, and sustained efforts to effectively attract sustainable FDI flows.

Cambodia, Vietnam upbeat about fruitful bilateral cooperation

Foreign direct investment (FDI) remains one of the most vital drivers of national economic growth, recording remarkable results in 2024.

This area has emerged as a notable highlight, promising to make an important contribution to expanding the economic growth rate by above 7% as targeted for this year. It is expected to set the stage for realising growth objectives outlined for 2025.

Foreign investors poured nearly 4.12 billion USD into Vietnam in November this year. This lifted the total registered FDI in the past 11 months, including new and additional investments, and capital contributions via share purchases, to nearly 31.4 billion USD, marking a year-on-year increase of 1%.

In the January-November period, a total of 21.68 billion USD was disbursed, up 7.1% against the same period last year. Foreign investors invested in 18 out of 21 sectors of the national economy, with the processing and manufacturing industry leading the way.

The Ministry of Planning and Investment’s Foreign Investment Agency (FIA) reported that foreign investment capital has continued to flow into localities with advantages in attracting FDI, including Bac Ninh, Quang Ninh, Ho Chi Minh City, Hai Phong, Hanoi, Binh Duong, Ba Ria – Vung Tau, Dong Nai, Nghe An and Bac Giang. These localities accounted for 79.6% of the total number of new projects and 69.4% of the total registered investment capital nationwide over the last 11 months.

Notably, the northern province of Bac Ninh has emerged as a prominent destination for semiconductor enterprises, with many large-scale projects, cited VOV.

Vietnamese Minister of Foreign Affairs Bui Thanh Son (L) holds phone talks with his Cambodian counterpart Prak Sokhonn.

The provincial authorities have signed a cooperation agreement with Samsung Display to develop a project worth 1.8 billion USD. As a result, in the first 11 months of the year, Bac Ninh led the country in attracting FDI, with total registered investment capital reaching nearly 5.04 billion USD, accounting for 16% of the nation’s total investment, and more than tripling the same period last year.

The Global Semiconductor Alliance (SEMI) has predicted that Vietnam's semiconductor market is expected to reach 7.01 billion USD by 2028, with an average annual growth of approximately 6.69% during the 2023–2028 period.

Hong Sun, Chairman of the Korean Chamber of Commerce and Industry in Vietnam (KoCham) stated that Vietnam is among the countries with significant opportunities to develop the semiconductor industry. Therefore, large corporations of the Republic of Korea (RoK) are actively exploring opportunities to expand semiconductor supply chains in Vietnam.

Nguyen Van Toan, Vice President of the Vietnam Association of Foreign Invested Enterprises (VAFIE), believed that the trend of foreign investors pouring capital into the semiconductor and electronics industries in recent times is positive.

Particularly, Jensen Huang, Founder and CEO of NVIDIA, recently visited Vietnam for the second time. NVIDIA has partnered with Vietnam to establish an Artificial Intelligence (AI) research and development centre and an AI data centre in the country.

Economic experts said Vietnam is currently the most open economy in the Southeast Asian region, just behind Singapore. Meanwhile, the Vietnamese Government continues to focus on reforms, international integration, and sustained efforts to effectively attract sustainable FDI flows.

Vietnam's economic growth remains resilient: Standard Chartered

Standard Chartered maintains strong GDP growth of 6.7 percent for Vietnam in 2025, with growth easing from 7.5 percent year-on-year in the first half to 6.1 percent in the second half.

In its latest macroeconomic updates for Vietnam, Standard Chartered noted that Vietnam's economic growth has remained resilient.

Exports grew 14.9 percent year-on-year in the first 10 months of 2024, while imports grew 16.8 percent; with electronics exports and imports continuing their recovery.

Photo: VGP

The manufacturing sector has experienced solid growth, and relatively accommodative monetary policy may have also contributed to the economic recovery, according to the bank.

Foreign investment appetite remains strong, as indicated by inward foreign direct investment (FDI) flows. Disbursed FDI increased by 8.8 percent year-on-year while pledged FDI rose by 1.9 percent in the same period.

The manufacturing sector accounted for 62.6 percent of total pledged FDI during that period, while the property sector's share was 19 percent, increasing from a year earlier.

Tim Leelahaphan, Economist for Thailand and Vietnam, Standard Chartered expected the State Bank of Vietnam (SBV) to hike rates by 50 basis points in the second quarter of 2025.

"The government's desire for stronger economic growth may support low interest rates for now. Inflation could rise again starting in the second quarter of 2025; as such, we expect rate normalization in the second quarter", he shared.

The Federal Reserve System (FED) moves will also be key to the SBV's policy decisions. Lower USD rates may help to reduce capital outflows, while a sustained trade surplus and strong tourism should support the VND; however, low import cover remains a challenge, told the economist.

Vietnam News Today (Dec. 9): NA Chairman’s Visits Drive Vietnam’s Ties With Singapore, Japan Vietnam News Today (Dec. 9): NA Chairman’s visits drive Vietnam’s ties with Singapore, Japan; Vietnam grimly determined to strive for 8% growth in 2025; Vietnamese ...

Vietnam News Today (Dec. 10): Vietnam-China Trade Turnover Reaches Nearly US$200 Billion Vietnam News Today (Dec. 10): Vietnam records 24.3 billion USD trade surplus in 11 months; Northern Vietnam to face another cold spell with lows down ...