Vietnam News Today (Feb. 23): Tripartite Meeting Promotes Laos-Vietnam-Cambodia Connectivity

	Vietnam News Today (Feb. 21): Korean Firms Plan to Expand Investment in Vietnam
	Vietnam News Today (Feb. 22): Vietnam Emerges as Top Tourism Hot Hotspot

The top leaders of the ruling parties of Vietnam, Laos and Cambodia meet in Ho Chi Minh City. (Photo: VNA)

Tripartite meeting promotes Laos-Vietnam-Cambodia connectivity

Vietnamese Party Central Committee General Secretary To Lam held a high-level meeting with Hun Sen, President of the Cambodian People's Party and President of the Senate of Cambodia, and Thongloun Sisoulith, Party General Secretary and President of Laos in Ho Chi Minh City on February 22.

During the meeting, the three leaders discussed recent global and regional developments, shared insights on the situation in their respective parties and countries over the past year, reviewed achievements, and outlined future directions for cooperation among the three parties and countries.

They congratulated each other on the significant accomplishments recorded by their countries, particularly in ensuring national security, maintaining positive economic growth, and improving the livelihoods of their people.

Emphasizing the strategic nature of their close and deep-rooted ties, the three leaders reaffirmed that the stability, security, and development of one country directly impact the others. They reiterated the consistent policy of their parties and governments to prioritize and strengthen the traditional friendship between Vietnam, Cambodia, and Laos.

The leaders expressed their satisfaction of the progress made in trilateral cooperation, noting that political relations remain the foundation, with party-to-party relations guiding state-to-state relations. They highlighted effective cooperation in defense and security, along with positive developments in economic, trade, investment, cultural, educational, and scientific-technical cooperation, cited VOV.

Acknowledging the increasingly complex and unpredictable global and regional landscape, they agreed to further deepen, expand, and enhance their trilateral relationship. They emphasized the importance of strengthening political trust, fostering high-level exchanges, and preserving their historical solidarity as a vital and invaluable asset for maintaining peace, security, and development in their countries. They also underscored the need to educate future generations, especially the youth, about this enduring bond.

The three parties agreed to bolster their defense and security cooperation to effectively address both traditional and non-traditional security challenges. They committed to enhancing information exchange, consultations, and coordination to protect each other’s legitimate interests and jointly tackle shared challenges.

The leaders stressed the need to drive economic cooperation forward by improving connectivity between their economies, particularly in transportation, trade, and tourism. They also vowed to strengthen cooperation in culture, education, and science-technology by leveraging each country’s strengths.

The three leaders agreed to optimize existing cooperation mechanisms while exploring new approaches to enhance the quality, effectiveness, and substance of their collaboration. Their goal is to promote the mutual interests of their countries and contribute to regional and global peace, stability, and development.

On this occasion, the Cambodian and Lao leaders extended their congratulations to General Secretary To Lam and the Vietnamese leadership and people on Vietnam’s significant milestones in 2025, including 50 years of the Liberation of the South and National Reunification (April 30, 1975 - 2025), 80 years of National Day (September 2, 1945 – 2025), and 135 years of President Ho Chi Minh birthday (May 19, 1890 - 2025).

Vietnam – Europe ties maintain growth momentum amidst global turmoil

As Vietnam and Europe continue to strengthen their partnership, both sides remain committed to building on their achievements while embracing new cooperation opportunities for peace and stability in the region and the world.

2024 – Consolidating foundation to forge stronger relations

The European countries commended Vietnam’s potential and always sees the nation as its important partner in the Indo-Pacific Strategy while the Southeast Asian country has considered Europe an important, big market, a potential source of direct investment, and a goodwill sponsor. Besides, historical and cultural connections between the two sides serve as catalysts for them to step up their bilateral relations.

Vietnam’s friendship and cooperation partnerships with its traditional European partners were reinforced, with a multitude of diplomatic activities at all levels in 2024, including the exchange of 30 high-level delegations, 1.5 times more than the previous year. Forty-two cooperation documents were signed in various domains, helping concretise the upgraded partnership frameworks as well as bilateral and international commitments.

A landmark moment came when Vietnam and France elevated their relationship to a comprehensive strategic partnership during Party General Secretary To Lam's October 2024 visit, making France the first EU member and the second European country to achieve this status with Vietnam.

The diplomatic calendar was particularly active, with Prime Minister Pham Minh Chinh’s trip to Hungary and Romania in January and attendance at the expanded BRICS summit in October, and the state visits to Vietnam by German President Frank Walter Steinmeier in January and Russian President Vladimir Putin in June.

Throughout the dynamic engagements, Vietnam and European countries agreed to continue maintaining existing cooperation mechanisms like strategic dialogues and regular political consultations, according to VNA.

On the afternoon of October 4, 2024 (local time), at the Villers-Cotterêts Castle in France, Party General Secretary and State President To Lam attends the plenary session of the 19th Francophonie Summit. (Photo: VNA)

At multilateral forums, the two sides coordinated closely and promoted the culture of dialogue and cooperation. European leaders demonstrated their respect for Vietnam’s increasing role, position, and prestige in the international arena while expressing their hope to consolidate and nurture the relations and establish a rational partnership framework with Vietnam, aligning with the new situation.

Economy – trade continued to be a bright spot in the relations between Vietnam and Europe in 2024. Trade revenue with the EU reached 68 billion USD, a 16% increase from 2023. The EU solidified its position as Vietnam's fourth-largest trading partner and fifth-largest investor, with cumulative investment exceeding 30 billion USD.

2025 – Charting course for enhanced relations

As Vietnam now stands ready to embrace a new era – that of the nation’s rise, the diplomatic sector continues innovating its mindset and actions, serving as a catalyst to open up new opportunities for national development. This diplomatic evolution aims to effectively serve security and development interests while elevating Vietnam's international standing and contributing to a fair, peaceful, and stable global order.

Foreign activities are expected to go vibrant this year, including those with many European countries and partners like Russia, Poland, Bulgaria, Hungary, Romania, the Czech Republic, Slovakia, Germany, Portugal, Egypt, Cyprus, and the EU.

Based on the unceasingly consolidated friendship together with huge cooperation potential, Vietnam has identified four key priorities for cooperation with European partners, helping improve the nation’s position in the new era.

Vietnam will maintain a strategic environment of peace, friendship, and cooperation through strengthened cooperation with its important partners and traditional friends in Europe, contributing to enhancing political trust and creating motives for cooperation in other sectors. This is evidenced by the establishment of the strategic partnership with the Czech Republic and comprehensive partnership with Switzerland in January 2025.

Advancing economic diplomacy is another priority, with a focus on business and local community interests, particularly in areas where Europe excels and Vietnam seeks growth like digital transformation, green transition, energy transition, high technology, innovation, and tourism.

Vietnam will work to intensify collaboration in science, technology, and high-quality human resources training, especially in semiconductors, AI, and renewable energy.

Additionally, it will capitalize on the potential of the Vietnamese community with more than 1 million people in Europe to enhance bilateral ties and contribute to Vietnam’s development.

As Vietnam and Europe continue to strengthen their partnership, both sides remain committed to building on their achievements while embracing new cooperation opportunities for peace and stability in the region and the world.

ASEAN Future Forum in Hanoi to shape bloc’s future, says Australian diplomat

Australian Ambassador to ASEAN Tiffany McDonald has emphasized that the upcoming second ASEAN Future Forum in Hanoi presents a valuable opportunity for senior leaders, policymakers, scholars, and young people to discuss the bloc’s future.

McDonald, who is scheduled to fly to Hanoi to attend the event, told Jakarta-based VOV correspondents that in the context of the world undergoing global transformation marked by high geopolitical tensions, the ASEAN Future Forum 2025 is a timely opportunity for the bloc and its partners like Australia to work together to address shared challenges.

“Ultimately what we are trying to do is through ASEAN-led mechanisms to maintain peace, security and stability in the region. Australia recognised the importance of this forum from its inception, supported the inaugural ASEAN Future Forum last year, and is pleased to do so again in 2025,” stated the diplomat.

Looking ahead, 2025 is a particularly crucial year for ASEAN’s future, with the adoption of the ASEAN Community Vision 2045. McDonald noted that the ASEAN Future Forum 2025’s theme of "Building a United, Inclusive, and Resilient ASEAN Amidst Global Transformations" is therefore appropriate to the current context.

“Amidst deep geopolitical tensions and shifts in the region and globally, ASEAN’s relevance is more important than ever. There is also a strong connection between the theme of the ASEAN Future Forum 2025 and Malaysia’s ASEAN Chairmanship theme for 2025 - ‘Inclusivity and Sustainability.’ A united and resilient ASEAN is at the forefront of maintaining peace, stability, and security in our region,” shared the Ambassador.

2025 is also a special year for Vietnam as it marks 30 years of the country’s ASEAN membership. The Ambassador noted that Vietnamese leadership in initiating and hosting the ASEAN Future Forum highlights its indispensable role within the grouping, according to VOV.

Australian Ambassador to ASEAN Tiffany McDonald in an interview granted to Jakarta-based VOV correspondents.

“Australia closely cooperates with Vietnam both regionally and through ASEAN. Our support for the ASEAN Future Forum is another example of our strong collaboration with Vietnam. This year, we will witness the realization of the Hanoi Declaration 2020, an initiative led by Vietnam, with the adoption of the ASEAN Community Vision 2045. This underscores Vietnam’s importance and irreplaceable role in ASEAN’s regional agenda,” said the Ambassador.

The diplomat also expressed her confidence that ASEAN can play a greater role in fostering a stable and predictable environment through adherence to international law principles, mutual respect, and peaceful dispute resolution. Countries must act responsibly within the shared regional space and provide a dialogue platform to build trust and prevent conflicts.

According to McDonald, Australia is a major dialogue partner for ASEAN and stands fully committed to supporting the bloc’s role in regional peace and security. As both sides celebrated 50 years of diplomatic relations last year, their leaders agreed on a Joint Vision Statement, committing to working together to advance a rules-based regional architecture which seeks to uphold international law.

One concrete example of this is a series of ASEAN-led workshops on conflict prevention, crisis management, and regional structures which are open to all East Asia Summit participants. The Ambassador said that Australia looks forward to continuing this working model with ASEAN in 2025.

The second ASEAN Future Forum will be held from February 25 to February 26 in Hanoi. The event is expected to bring together over 500 delegates, including senior leaders from ASEAN countries and partners, experts, scholars, ambassadors, senior officials, representatives of international organizations, businesses, and local authorities.

The ASEAN Future Forum is an initiative announced by Vietnamese Prime Minister Pham Minh Chinh at the 43rd ASEAN Summit in Jakarta, Indonesia, in September 2023. The forum aims to provide a platform for leaders, experts, and stakeholders to discuss ASEAN’s future, especially in the face of global and regional uncertainties.

Malaysian expert Collins Chong Yew Keat emphasized that the ASEAN Future Forum will play a crucial role in shaping the region's future, enabling member states to anticipate and address risks and challenges while developing strategic plans. The forum’s outcomes will contribute to the Strategic Plan for the ASEAN Community Vision 2045.

Vietnam’s hosting of the ASEAN Future Forum 2025 demonstrates its proactive role and commitment to promoting ASEAN unity and sustainable development, while also providing an opportunity for stakeholders to engage in discussions and propose solutions aimed at tackling common regional challenges.

Vietnam expands trade horizons in India’s southern region

Vietnam attended the Invest Kerala Global Summit in Kerala state, India from February 21-22, demonstrating its commitment to strengthen trade ties with the country’s southern region.

The prestigious event, organized by the Kerala State Industrial Development Corporation (KSIDC) under the aegis of the Department of Industry and Commerce, aimed to attract significant domestic and international investments across various sectors crucial to the state’s economic growth.

Over 100 exhibition booths were arranged at the event, displaying diverse products ranging from defense technology to health supplements, cited VNA.

At the Vietnam - Kerala Business Meet on February 21 (Photo: VNA)

Vietnam's prominent presence was marked by its 60-square-meter pavilion, the largest among international participants. Such staples as spices and coffee, as well as tourism offerings from industry leaders VietJet and Vietravel were on the showcase.

The Vietnamese Embassy organized a trade networking session with Kerala, focusing on trade, investment, and tourism. The delegation from Lai Chau province, along with representatives from Vietnam's spice, trade, technology, tourism, and aviation sectors, actively participated in these discussions.

Ambassador Nguyen Thanh Hai underscored that Vietnam and Kerala boast huge cooperation potential, particularly in the areas of seafood, technology and innovation, tourism, and sea port. He expressed his hope for stronger collaboration in the coming time.

Kerala, with its GDP of approximately 140 billion USD in 2023, stands among India's top 10 economically powerful states. The region's business-friendly policies, modern infrastructure, and streamlined investment approval processes have created an attractive environment for international investors.

Vietnamese economy ranks fourth in ASEAN

According to the latest statistics collected by Mekong ASEAN, Vietnam has made breakthrough in 2024, with its GDP estimated at US$476.3 billion.

Last year, Vietnam took the lead among the ASEAN-6 in terms of GDP growth rate, with 7.09 percent.

The country ranked fifth in the ASEAN-6 in terms of GDP per capita, with US$4,711.

The 15th National Assembly on February 19 passed a resolution in which the legislative body agreed with the Government's proposal to raise the 2025 GDP growth target to 8 percent.

The country's GDP scale this year is expected to exceed US$500 billion and the GDP per capita is projected to surpass US$5,000.

Based on projections by the International Monetary Fund (IMF), Seasia Stats forecasted that Vietnam's GDP will reach US$506 billion this year, ranking 33rd globally.

Seasia Stats highlights Vietnam's impressive economic growth, adding that Vietnam's economy is rapidly expanding, thanks to its manufacturing boom and foreign investments, VGP reported.

Photo: VGP

Meanwhile, the UK-based Centre for Economics and Business Research noted that with an average annual growth rate of 5.8 percent over the next five years, Vietnam's GDP is expected to surpass Singapore's, reaching US$676 billion by 2029.

By 2039, Vietnam's GDP could rise to US$1.41 trillion, ranking 25th worldwide.

According to a new report released by Oxford Economics, the world's foremost independent economic advisory firm, Vietnam's economy will be the standout among the ASEAN-6, growing at a faster pace relative to its peers during the next few years.

The report noted that the nation's GDP growth will reach 6.5 percent in 2025, driven by a strong manufacturing sector and a rapid recovery in domestic demand. In which, manufacturing fundamentals remain strong and supported by structural tailwinds.

A key source of growth for Vietnam next year will be its manufacturing exports. Vietnam is a known assembly, packaging, and testing (APT) hub, the next stage of the chip-making process post fabrication. Intel's largest APT facility is in Vietnam, and Amkor Technology's US$1.6 billion chip plant in Bac Ninh province is set to come on line in 2025.

Other large exporting sectors are machinery and electrical appliances, textiles, and agriculture. A boost should come from the front-loading of export orders next year in anticipation of tariffs, which may be sufficient to offset soft electronics demand in the near term.

According to Oxford Economics, growth in FDI inflows will continue to be maintained, although at a slower pace. It expects investment growth in 2025 to reach 7.2 percent, higher than the 6.9 percent forecast for this year.

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