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Algerian consumers learn about Vietnamese products at the event. (Photo: VNA)

Vietnamese products promoted to Algerian consumers

The Vietnamese Embassy in Algeria coordinated with Bab Ezzouar Commercial Center in Algiers, organized an event to introduce Vietnamese products to consumers in the North African country on February 22 (local time).

It drew a large number of visitors, mainly local residents and representatives of several Algerian import businesses. At the event, part of the embassy’s annual trade promotion activities, Algerian consumers had the opportunity to learn about Vietnamese coffee, listen to presentations about the coffee processing methods, and test the products on-site.

Le Ngoc Khanh Linh, an economic diplomacy officer of the Vietnamese Embassy in Algeria, told Vietnam News Agency correspondents that in the future, in addition to expanding promotional activities to other provinces and cities, it plans to adopt a more targeted approach, focusing on major importers and industry associations in Algeria, cited VNA.

Most local customers who tried Vietnamese products gave positive feedback, praising their taste and quality. A local business representative expressed a desire to attend more similar events in Algeria to learn more about Vietnamese products and strengthen bilateral trade ties.

Algeria is considered a large and promising market for several of Vietnam’s key export products, such as coffee, tea, pepper, cashew nuts, spices, tra and basa (pangasius) fish fillets. Among these, coffee is the most popular in the North African country, with an average annual import volume of 130,000 tonnes of coffee beans.

Vietnam contributes to building a united, inclusive and resilient ASEAN Community

Vietnam has consistently been an active, proactive, and responsible member of the Association of Southeast Asian Nations (ASEAN), leaving significant marks on the association's development.

These important milestones provide an opportunity for Vietnam to review its journey and further contribute to shaping ASEAN's developmental path in the coming years.

Since joining ASEAN, Vietnam has initiated and made substantial contributions to uphold the association's fundamental goals and principles, reinforcing ASEAN's central role in promoting peace, cooperation, and development in the region.

The year 2025 is seen as a pivotal moment for ASEAN to prepare for a new phase. Internal solidarity and self-reliance are identified as two crucial factors for the association's central role and the outcomes of building the ASEAN Community, according to NDO.

At the press conference on ASEAN Future Forum (AFF) 2025 held in Hanoi on February 13. (Photo: VNA)

During its ASEAN Chairmanship in 2010, Vietnam proposed initiatives such as expanding membership in the East Asia Summit (EAS) and hosting the first ASEAN Defence Ministers' Meeting Plus (ADMM+).

As ASEAN Chair in 2020, despite the COVID-19 pandemic, Vietnam led efforts to establish a new operational method through online meetings to adapt to emerging challenges.

Vietnam – key agricultural trade partner of Argentina: newspaper

La Nacion, Argentina's leading daily, on February 22 reported that Vietnam is the top importer of corn and soybean meal from the Latin American country in 2024, with over 6 million tonnes of corn and 3.4 million tonnes of soybean meal.

The newspaper cited statistics from the Rosario Grain Exchange (BCR), which is Argentina's largest agricultural exchange, indicating that Vietnam has become a key agricultural trade partner for the country.

According to BCR, over the past six years, Argentina, a leading agricultural producer globally, has exported 536 million tonnes of grains valued at 189 billion USD. From 2019 to 2024, except for the drought-affected year of 2023, Argentina exported nearly 96 million tonnes of grains on average each year. More than half of these were shipped to Asia, with nearly a quarter to Southeast Asia.

The article said Southeast Asia has experienced rapid economic growth, and the food consumption patterns in the region are very diverse. Southeast Asia has become a strategic market for the agricultural sector, accounting for 28% of global soybean meal trade, 10% of global pork consumption, and 9% of poultry consumption. In the Southeast Asian market, Vietnam makes up half of Argentina's corn and soybean meal exports to the region.

A screenshot photo of the article published on La Nacion, Argentina's leading daily (Photo: VNA)

According to La Nacion, Southeast Asia has become an important destination for Argentinian agricultural products over the past decade. Currently, Argentina's exports to Asia have increased 2.7 times since 2009, while those to Southeast Asia have quadrupled.

The region's economic growth plays a decisive role in this process. From 2009 to 2023, Vietnam's GDP per capita has doubled, while Indonesia and the Philippines have seen increases of over 60%. The average growth rate in Southeast Asia is 3.2% per year, significantly surpassing the global average of 2.1%. Additionally, the region’s Human Development Index (HDI) has also improved markedly, with seven countries achieving high development levels and four countries reaching very high development levels in 2022.

The article concluded that the demand for animal feed in Southeast Asia is expected to rise. The region will account for 20% of global corn import market share and 70% of soybean meal import market share. Vietnam will continue to be a major trade partner for Argentinian agriculture, projected to import an additional 6 million tonnes of corn and 1.7 million tons of soybean meal by 2034, representing 7% of global corn imports and 9% of global soybean meal imports.

Strong cold hits Northern Vietnam, temperatures drop sharply

A strong cold wave is sweeping into Northern Vietnam, putting an end to the prolonged wet weather in the region, according to the National Center for Hydro-Meteorological Forecasting.

The strong cold wave affected the northeastern region of Vietnam early on February 23, before spreading to north-central, northwestern, and central regions, said meteorologists.

From the night of February 23, Northern Vietnam will experience severe cold, with some mountainous areas facing extreme cold conditions.

Temperatures will quickly fall to 10-13°C in the lowlands and 6-9°C in the highlands, with some high-altitude regions falling below 5°C.

In the capital city of Hanoi, temperatures will also drop quickly, ranging between 12-19°C, with cold weather accompanied by strong winds.

In the north-central region, the weather will be cold, with temperatures decreasing to 14-17°C, VOV reported.

A strong cold wave is sweeping into Northern Vietnam, putting an end to the prolonged wet weather in the region.

Notably, due to the dry nature of this cold air mass, the prolonged humid conditions will end, bringing drier weather. This is good news for northern residents who have been dealing with damp and uncomfortable indoor conditions due to high humidity.

However, the humid weather will soon return as soon as this strong cold spell ends, and temperatures will rise quickly to 30°C. Experts say the large temperature difference between day and night may cause temperature inversion, leading to the return of air pollution, and the humid weather.

Periods of humid weather typically last 3-5 days, with some lasting up to a week. This phenomenon only ends or changes when a strong cold wave arrives.

Prospects for sustainable growth in 2025

Building on the impressive economic achievements of 2024, Vietnam's economy is poised to enter 2025 with the expectation of sustaining steady and sustainable growth across all sectors.

Alongside positive prospects come significant challenges. However, according to Associate Professor Dr Dinh Trong Thinh from the Academy of Finance, Vietnam's economy in 2025 has a solid foundation for a strong recovery, thanks to effective inflation control, exchange rate stability, and accelerated public investment disbursement.

Expectations from positive signals

With rising consumer demand and an expanding middle class, the domestic market remains a key growth driver. The processing industry, agricultural exports, and tourism continue to sustain momentum. At the same time, the recovery of global trade presents significant opportunities for Vietnam, especially as next-generation free trade agreements like the EVFTA and CPTPP provide competitive advantages in tariffs.

According to Associate Professor Dr Ngo Tri Long, these positive signals play a crucial role in strengthening investors’ and businesses’ confidence. The Asian Development Bank (ADB) forecasts that Vietnam's GDP could grow by 6.2% in 2025, the highest in Southeast Asia, while the United Overseas Bank (UOB) projects a growth rate of 6.6%.

Beyond internal factors, the global supply chain shift is also bringing significant benefits to Vietnam. As international businesses seek alternative manufacturing locations, Vietnam is emerging as a promising production hub thanks to its strategic geographical location, competitive labour costs, and increasingly improved business environment.

Sharing the same view, the recently released 2025 strategic report by MB Securities (MBS) highlights six key factors shaping Vietnam’s macroeconomic outlook this year: accelerated production and export growth; public investment disbursement; inflation remaining below the target (4.5%); the impact of "Trump 2.0" on Vietnam’s economy; China's recovery prospects; and monetary policy balance.

Specifically, MBS forecasts that Vietnam’s exports will grow by 9-10% in 2025, driven by vibrant global trade and regional agreements. Public investment disbursement is expected to reach about 85-90% of the plan, growing by 24-31% compared to 2024, supported by major projects and improved capital allocation mechanisms.

Additionally, under the pressure of a strong US dollar, MBS predicts that Vietnam’s monetary policy will be more cautious, with no expectations of policy rate cuts while maintaining low interest rates to support economic growth. At the same time, tariff policies, trade investigations, and the impact of oil prices could negatively affect trade and the VND/USD exchange rate, cited NDO.

Automatic welding line of Truong Hai Automobile Factory. (Photo: Bac Son)

However, despite the bright outlook for the economy in 2025, there are still challenges ahead. The global economy faces hurdles such as high inflation, recessions in several regions, and geopolitical tensions. According to the International Monetary Fund (IMF), global economic growth in 2025 is projected to reach only 3.2%, lower than the pre-pandemic average.

This could impact Vietnam’s exports as major markets like the US and the EU continue to tighten spending. In particular, if protectionist trade policies in some countries increase, they could put additional pressure on Vietnam’s export goods.

Additionally, while interest rate cuts by the US Federal Reserve (FED) may provide benefits in terms of lower borrowing costs, they also pose risks related to exchange rate fluctuations. A weaker US dollar could create challenges for businesses that import raw materials in foreign currencies.

Strong support and reform policies

The Government must continue implementing breakthrough solutions to address challenges and seize opportunities. One of the top priorities is institutional reform and streamlining the administrative apparatus. According to Associate Professor Dr Ngo Tri Long, reform policies, waste reduction, and improved management efficiency will serve as key drivers in fostering a more favourable investment and business environment.

Accelerating public investment disbursement, particularly for national key projects, is also crucial for stimulating the economy. According to experts, capital should be prioritised for infrastructure, education, and technology to enhance long-term competitiveness.

Moreover, the Government must adopt a flexible yet cautious monetary policy. Keeping inflation low and maintaining exchange rate stability are essential conditions for sustaining investor confidence and ensuring macroeconomic stability.

Beyond traditional growth drivers like public investment and trade, 2025 is also a pivotal time for Vietnam to strengthen new growth engines. Digital transformation has become an inevitable trend in business, public administration and daily life. Vietnamese enterprises must leverage technology to optimize production, improve efficiency, and reduce costs.

Sustainable development, with a focus on green transformation, is also a key trend. The Government must promote investment in renewable energy projects, environmental protection, and greenhouse gas emission reduction. This will help Vietnam fulfil its international environmental commitments and create opportunities to attract investment from global green funds.

Two growth scenarios in 2025

Based on the analysis, Associate Professor Dr Dinh Trong Thinh has outlined two economic growth scenarios for 2025. In the cautious scenario, GDP is expected to grow between 6.8% and 7.3%, with inflation maintained at 3.2%–3.5%. In the optimistic scenario, GDP could reach 7.3%–7.8%, with inflation ranging from 3.5% to 3.8%.

However, to achieve these targets, Vietnam must continue implementing supportive policies for businesses and citizens, including tax and fee reductions as well as lower borrowing interest rates. Businesses must also enhance their competitiveness by investing in technology and developing a high-quality workforce.

The positive outlook for 2025 stems from the economy’s internal strength and the government’s flexible and effective policymaking. If policies are implemented in a synchronised and decisive manner, Vietnam has a strong opportunity to become one of the fastest-growing economies in the region. With a spirit of innovation and strong determination, 2025 is set to be a pivotal year, laying a solid foundation for Vietnam’s sustainable economic development in the future.

Many economic organizations and international experts have expressed positive views on Vietnam’s economic development and remain optimistic about its growth prospects in the coming period.

Frederic Neumann, Chief Economist for Asia-Pacific Economic Research at HSBC, said that Vietnam is one of the best-performing economies in Asia and is at the center of the global supply chain restructuring process. We are witnessing many supply chains shifting, and Vietnam is emerging as a top destination in this trend. This is a crucial driver of the country’s economic growth.

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