Vietnam News Today (Jan. 12): Russian PM’s Visit to Herald Fresh Milestone in Vietnam-Russia Ties

	Vietnam News Today (Jan. 10): Vietnamese Treasures Relations With China
	Vietnam News Today (Jan. 11): Vietnam Emerges as Beacon of Growth And Resilience

Vietnamese Ambassador to Russia Dang Minh Khoi.

Russian PM’s visit to herald fresh milestone in Vietnam-Russia ties

Russian Prime Minister Mikhail Vladimirovich Mishustin will pay an official visit to Vietnam from January 14-15 at the invitation of his Vietnamese counterpart Pham Minh Chinh to strengthen the comprehensive strategic partnership and prepare for key bilateral activities in 2025.

In a recent media interview ahead of the visit, Vietnamese Ambassador to Russia Dang Minh Khoi emphasized the importance of the trip, which underscores the enduring friendship between Vietnam and Russia. It also highlights their determination to ramp up cooperation across a variety of fields, reinforcing their commitment to a stronger, more dynamic partnership.

The Ambassador noted that Russia has consistently recognized Vietnam as a reliable partner and a key priority in its "Look East" policy. He also pointed out that in 2024, Vietnam was among the first countries visited by Russian President Vladimir Putin following his re-election.

For Vietnam, Russia remains a central pillar in its foreign policy. PM Pham Minh Chinh’s visit to Russia in October 2024 for the expanded BRICS Summit, and the official visit of National Assembly Chairman Tran Thanh Man to Russia in September 2024, further demonstrate the importance of bilateral ties.

The two-day visit will kick off a string of high-level events to celebrate the 75th anniversary of diplomatic relations between Vietnam and Russia (January 30, 1950 – 2025), marking a significant milestone in the history of their relationship.

The visit is expected to expedite the implementation of key initiatives discussed during President Putin’s state visit to Vietnam in June 2024, and the phone talks between Party General Secretary and State President To Lam and President Putin in August 2024. The discussions will focus on further deepening the comprehensive strategic partnership, ensuring it remains intensive, substantial, and effective, cited VOV.

Leaders from both sides will also compare notes on important issues, explore future strategic directions, and identify critical areas for cooperation, including economy, trade, energy, science and technology, education, culture, and defense-security. They will work to overcome existing challenges and expand cooperation in promising sectors.

Ambassador Khoi highlighted the significant role that high-level exchanges have played over the past 75 years, providing a platform for both countries to discuss long-term goals and resolve issues through the political will of their leaders.

The diplomat further emphasized the vast potential for even closer ties, noting that bilateral cooperation mechanisms, such as the Inter-Parliamentary Cooperation Committee and other key bilateral commissions, will be instrumental in advancing their partnership. With strong leadership and unwavering determination, 2025 is set to usher in a new phase of comprehensive cooperation between Vietnam and Russia.

Vietnam, Laos launch cross-border QR code payment connectivity

The central banks of Vietnam and Laos have recently launched a bilateral retail payment service using QR codes, enabling seamless cross-border transactions between the two countries.

The launching ceremony took place within the 47th session of the Vietnam-Laos Intergovernmental Committee in Vientiane, with Prime Minister Pham Minh Chinh and his Lao counterpart Sonexay Siphandone attending.

The initiative is the result of cooperation since 2023 between the State Bank of Vietnam and the Bank of the Lao People's Democratic Republic, through the National Payment Corporation of Vietnam (NAPAS) and the Lao National Payment Network (LAPNet), along with the commercial banks of both countries. It is expected to boost tourism, consumption, and people-to-people exchange between the two countries, while promoting the use of local currencies in bilateral retail payments.

Customers using mobile banking apps from participating Vietnamese banks, including VietinBank, Sacombank, BIDV, Vietcombank, BVBank, Nam A Bank, and TPBank, now scan LaoQR codes to pay for goods and services at merchants within the LAPNet’s network of 14 banks in Laos, according to VNA.

Participants at the launching ceremony (Photo: VNA)

Transactions are conducted in the local currencies of both countries (LAK/VND), with real-time currency conversion based on the exchange rate at the time of payment.

Looking ahead, NAPAS will work with LAPNet to introduce payment options for Lao residents visiting Vietnam using the VietQR system.

Record US$25 billion FDI disbursement in 2024 signals thriving growth

In 2024, foreign direct investment (FDI) disbursements in Vietnam reached approximately US$25.4 billion, marking a 9.4% increase—the highest level in six years. This indicates a growing trend toward more substantial and effective FDI inflows.

At the beginning of 2025, the northern province of Bac Ninh attracted nearly US$2 billion in registered FDI, almost equaling the total FDI it received in 2022. Notably, an existing foreign investor in the locality added US$1.2 billion to their project.

Bac Ninh, the country's top FDI recipient in 2024 with over US$5 billion, saw significant adjustments in the electronics, electricity, and semiconductor sectors. These developments have driven growth in local supporting industries, fostered high-tech supply chains, and acted as a catalyst for economic progress.

According to Vuong Quoc Tuan, chairman of the Bac Ninh People’s Committee, the province bases its strategy on untapped potential and a commitment to high-tech industrial development. This approach includes promoting local and domestic enterprises to create a supportive ecosystem. “Bac Ninh is determined to reform administrative procedures, minimize costs and time, and ensure transparency and openness for businesses,” he emphasized.

The central province of Quang Nam also experienced sustained FDI growth in 2024. The province currently has 201 active FDI projects with a total registered capital exceeding US$6.3 billion. These projects contribute billions of VND annually to the provincial budget and provide jobs for over 62,000 local workers, VOV reported.

Foreign investors inject nearly US$14 billion into Vietnam in 2024.

Quang Nam has identified "hard" infrastructure and "soft" mechanisms as key factors in attracting foreign investors. Provincial leaders have actively conducted overseas trips to promote investment and invite top global enterprises to the province.

Le Van Dung, chairman of the Quang Nam People’s Committee, shared that the province prioritizes building a favorable environment and warmly welcoming investors with openness and cooperation. "We hope foreign investors see Quang Nam as an attractive and trustworthy destination, boosting collaboration and ushering in a new phase of development. This aligns with our vision to elevate Quang Nam into a leading province nationwide,” Dung stated.

Dung also emphasized the province's proactive role in addressing challenges faced by businesses, particularly during production difficulties. He stressed the importance of timely support to prevent enterprises from withdrawing from the market. “Quang Nam's leadership is committed to implementing key measures to resolve these challenges and support businesses in advancing their investments," he affirmed.

Vietnam, India, Indonesia set for travel “bonanza”

Vietnam, India, and Indonesia are set for a tourism “bonanza” as their middle classes expand and grow wealthier, India’s Economic Times quoted deputy chief executive officer of hotel group Accor SA Jean-Jacques Morin as saying.

In an interview in Bangkok, he said the three countries stand ready for substantial tourism growth due to the middle classes’ stable finances and preference for experiences.

“The way people consume has changed. Nowadays, people want services, not necessarily products. They want to have experiences, a trend that has been deeply accelerated by COVID-19.”

With almost 6,000 hotels around the world and more than 45 brands ranging from budget chains like Ibis to the luxury Raffles and Banyan Tree resorts, Accor is aiming to expand its portfolio by 3 - 4% this year, Morin said, adding Asia will likely account for about half those openings.

Southeast Asia and India in particular carry significant growth opportunities, such “big tigers” like Singapore, Thailand, and Japan will continue to perform well, along with upcoming markets such as Vietnam and Indonesia. Expressing a bullish outlook on India, Morin said in 2023, Air India Ltd and IndiGo placed record-breaking orders for 970 planes ready for a domestic and international travel boom, VNA reported.

Le Champ Tu Le Resort Hot Spring & Spa in Yen Bai province (Photo: VNA)

“The middle class is the most critical and important driver of this industry. When you become a little bit more wealthy, you want to see the world”, he stressed.

Besides, he predicted that the rise of “Gen Z” tourists — people born around the turn of the millennium — will spark faster growth in boutique, design-driven hotels in coming years. Younger tourists spend significantly more on food and drinks and like to go on so-called bleisure trips, where the line between leisure and business is blurred.

Vietnam's Cao Bang ranks among Lonely Planet’s best destinations in Southeast Asia

Lonely Planet has named Cao Bang, a northern Vietnamese province, one of Southeast Asia’s best travel destinations, praising its stunning natural landscapes and serene charm.

In the announcement on January 2, Lonely Planet highlighted Cao Bang as a top-tier destination, praising its unspoiled natural beauty and tranquil atmosphere compared to more crowded tourist hotspots.

Travel writer Acacia Gabriel described Cao Bang as "a mountainous province in northern Vietnam with rugged terrain, lush scenery, and a serene, less-commercialized appeal."

Must-visit attractions in Cao Bang

The guide recommended several remarkable sites in Cao Bang, starting with Phat Tich Truc Lam Ban Gioc, a serene Buddhist temple offering spectacular views of rolling hills.

Another must-see is Ban Gioc Waterfall, one of Southeast Asia’s most stunning cascades. Visitors can explore its multi-tiered falls by boat or bamboo raft, immersing themselves in the awe-inspiring scenery, cited VNN.

Ban Gioc Waterfall. Photo: Migo Travel.

Nearby, the Nguom Ngao Cave stands out as a natural wonder. Located close to the ancient stone village of Khuoi Ky, the cave spans over 2.1 kilometers, featuring striking stalactites and stalagmites, with some sections yet to be fully explored.

Global recognition for Southeast Asian destinations

Cao Bang shares the spotlight with other notable Southeast Asian destinations, such as Khao Sok National Park in Thailand, Siargao in the Philippines, Luang Prabang in Laos, and Bali and the Gili Islands in Indonesia.

Lonely Planet, a trusted authority in global travel, has been publishing travel guides since 1973, with over 145 million copies sold worldwide.

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