Vietnam News Today (Jan. 24): Vietnam to Become Asia-Pacific Region's Fastest Growing Economy in 2026

	Vietnam News Today (Jan. 22): Vietnam, Switzerland Issue Statement on Advancing Partnership
	Vietnam News Today (Jan. 23): Vietnam Boasts Potential to Position Itself as Regional and Global Tech Hub

Photo: VNA

Vietnam to become Asia-Pacific region's fastest growing economy in 2026

The World Bank projects Vietnam's GDP growth at 6.3% in 2026, the highest in the Asia-Pacific region.

Notably, the WB forecasts Vietnam's GDP growth at 6.3% in 2026. Although this is 0.2 percentage points lower than its earlier projection, Vietnam is expected to lead the region in GDP growth.

It could surpass major economies including Mongolia (6.1%), the Philippines (6%), Thailand (5.1%) and China (4%).

Overall, the WB forecasts GDP growth in the East Asia and Pacific (EAP) region to gradually decline in the years to come, from 4.6% in 2025 to 4.1% in 2026, primarily due to China's economic slowdown.

Excluding China, EAP economies are projected to maintain a growth rate of 4.7% in 2026, driven by strong domestic demand.

In 2024, growth in EAP economies excluding China is estimated at 4.8%, higher than the 4.3% recorded in 2023, supported by the recovery in trade, domestic tourism and internal demand, cited VNA.

The WB highlighted Vietnam as a bright spot in regional economic growth, thanks to its robust export capabilities.

In the near future, the WB warns of potential economic risks for the region, mainly due to global trade uncertainties and China's economic downturn. Other risks include escalating geopolitical tensions and global inflation.

Natural disasters caused by climate change are also expected to continue pressuring regional growth prospects.

Globally, the WB forecasts economic growth at 2.7% for both 2025 and 2026, consistent with the growth rate in 2024.

St. Petersburg seminar marks 75 years of Vietnam-Russia diplomatic relations

A seminar commemorating the 75th anniversary of the establishment of diplomatic relations between Vietnam and Russia (January 30, 1950 - 2025) took place in Saint Petersburg on January 22.

The event, held in a hybrid format, welcomed many leaders, speakers, representatives from friendship organizations, and lecturers and students from both Vietnam and Russia.

In a pre-recorded message to the seminar, Saint Petersburg Governor Alexander Beglov emphasized that the foundation of the enduring friendship between the two countries lies in mutual support and shared victories. He stated that Vietnam and Russia are united by ideals of truth and justice.

Beglov took pride in Saint Petersburg’s leading role in Russia-Vietnam cooperation, noting the presence of a monument to President Ho Chi Minh in the city. He expressed his wishes for the friendship between the two nations to grow stronger, their cooperation to flourish, and for the people of both countries to achieve new victories.

In an online address from Moscow, Vietnamese Ambassador to Russia Dang Minh Khoi highlighted key milestones in bilateral relations throughout 2024, including the state visit to Vietnam by President Vladimir Putin, as well as visits to Russia by Prime Minister Pham Minh Chinh and National Assembly Chairman Tran Thanh Man. And just a week ago Prime Minister Mikhail Mishustin paid an official visit to Hanoi.

Khoi emphasized that the leadership and people of both countries are committed to deepening the Vietnam-Russia Comprehensive Strategic Partnership, and both sides have set a goal of raising two-way trade to US$15 billion by 2030, according to VOV.

Delegates attend the seminar in person in Saint Petersburg, Russia. (Photo: NDO)

The Ambassador expressed confidence that ministries, organizations, localities, and citizens of both countries would work together to achieve greater results in this new phase of Vietnam-Russia relations. He also affirmed the Vietnamese Embassy’s desire to continue receiving strong support and cooperation from the Saint Petersburg administration to promote bilateral ties.

From Hanoi, Russian Ambassador to Vietnam Gennady Bezdetko affirmed that the current Vietnam-Russia cooperation is both sustainable and diverse, built on decades of rich experience.

Bezdetko expressed hope that the relationship would continue to develop positively, rooted in the spirit of traditional friendship and the Comprehensive Strategic Partnership, serving the interests of the people of both countries and contributing to peace and prosperity in the region and the world at large.

Speakers at the seminar highly praised the Vietnam-Russia Comprehensive Strategic Partnership, and stressed that both sides have a solid foundation to enhance the relationship, ensuring it becomes more practical and effective in the future.

PM’s visits to Poland, Czech Republic, Switzerland successful: Deputy Foreign Minister

Deputy Minister of Foreign Affairs Nguyen Minh Hang has underscored the fruitful outcomes of Prime Minister Pham Minh Chinh’s official visits to Poland and the Czech Republic and bilateral activities in Switzerland from January 15-22.

Talking with the press, Hang hailed the visits as a step to follow the foreign policy outlined by the 13th National Party Congress, further deepen friendly relations and multifaceted cooperation with traditional partners in Western and Central Eastern Europe.

She said it was the first high-level delegation exchange in 18 years with Poland and six years with the Czech Republic, both traditional friends that have provided selfless, genuine and dedicated help for the Vietnamese people during the national liberation, reunification and current development.

The visits took place at the time when Vietnam and Poland, as well as the Czech Republic, prepared to celebrate the 75th anniversary of their diplomatic ties in early February. Additionally, Vietnam and Switzerland are approaching the 55th anniversary of diplomatic ties in 2026. Poland recently assumed the rotating presidency of the European Union from January 1, 2025.

PM Chinh's agenda was packed, engaging in over 30 talks and meetings, delivering policy speeches, attending business forums and the Spring Homeland programme, and exploring several cultural, scientific and technological establishments in these nations.

A standout achievement from these visits, according to Hang, was the enhancement of relations and strengthening of political trust. Vietnam and Poland issued a joint statement on advancing towards an upgrade of bilateral relations to a strategic partnership, while Vietnam and the Czech Republic issued a joint statement on the upgrade of bilateral relations to a strategic partnership. Vietnam and Switzerland issued a joint statement to elevate bilateral ties to a comprehensive partnership.

There was a consensus among the countries to increase exchanges at various levels and through different channels, particularly through people-to-people exchanges, to raise mutual understanding and set the stage for expanded cooperation in other areas.

Leaders of the European nations spoke highly of Vietnam's rising international stature, with the Czech Republic and Poland considering Vietnam their most important partner in Asia.

The visits have invigorated cooperation in such traditional areas as trade, investment, tourism, education-training, national defence-security, culture, tourism, and labour, in line with the new partnership framework. They also expanded collaboration to other areas where both sides have potential and mutual needs, like digital transformation, green transition, information and communication technology, cybersecurity, pharmaceuticals, automotive industry, unmanned aerial vehicles (UAVs), and connectivity in aviation and rail transport.

Vietnam, Poland and the Czech Republic agreed to further open their markets to each other's agricultural, seafood and food products within the framework of the EU-Vietnam Free Trade Agreement (EVFTA). They promised to expedite the ratification of the EU-Vietnam Investment Protection Agreement (EVIPA) and accelerate negotiations for a Free Trade Agreement between Vietnam and the European Free Trade Association (EFTA).

Eight new cooperation agreements were inked, spanning diplomacy, labour, aviation, education, sports, and culture. Vietnam's decision to waive visa requirements for citizens of these three countries was warmly welcomed, promising to boost tourism and cultural exchanges, VNA reported.

Deputy Minister of Foreign Affairs Nguyen Minh Hang (Photo: VNA)

On global and regional issues, PM Chinh and leaders of the three countries agreed to offer mutual support at multilateral forums and organizations, and peacefully settle disputes in line with international laws and basic principles of the United Nations (UN) Charter and the 1982 UN Convention on the Law of the Sea (UNCLOS).

Hang mentioned PM Chinh's advocacy for better integration, cultural and Vietnamese language preservation among the overseas Vietnamese community during his talks and meetings.

About the PM’s attendance at the 55th Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland, Hang said the PM, along with leaders from various ministries, agencies and localities, engaged in discussions with several leading corporations during five key forums focused on areas aligned with Vietnam's development priorities, including hi-tech, artificial intelligence (AI), pharmaceuticals, smart infrastructure, green energy and financial center development.

The business community affirmed readiness to further invest in Vietnam's priority areas, and pledged to accompany Vietnam in developing financial centers in Ho Chi Minh City and Da Nang.

The Vietnamese leader’s speeches and discussions left a lasting impression of Vietnam's aspirations, vision and determination for development, highlighting the country's institutional, resource and infrastructure readiness to embrace the intelligent age.

Hang concluded by stressing that the delegation had made the most of the trip to strengthen ties with various countries and international organizations, with commitments spanning trade, healthcare, intellectual property, agriculture and renewable energy.

The PM's attendance in Davos delivered important messages to the international community, highlighting sincerity, cooperation, international solidarity, and the role of multilateralism in promoting sustainable, inclusive and adaptive development for the intelligent age.

He stressed that the intelligent age must serve people, with a focus on human-centric initiatives and cooperation, and highlighted the responsibility of countries and businesses within the global ecosystem, Hang added.

Rising purchasing power fuels vibrant Tet commodity market

Retail chains are actively distributing goods to the domestic market to meet an anticipated 10-20% increase in demand as the Lunar New Year is drawing near.

Growing demand for Tet goods

In Hanoi, since the Kitchen Gods' Day, purchasing power at supermarkets has gradually increased, with essential goods being the primary items consumed.

According to representatives from the WinMart/WinMart+/WiN retail chain, to prepare for the peak shopping season during the Lunar New Year (the Year of the Snake) and meet customers’ increasingly diverse needs, the retail chain worked with suppliers 2-3 months prior to Tet to boost stockpiles by 20% compared to the same period last year. This ensures an ample supply of goods, avoiding shortages or sudden price hikes.

The supermarket chain has focused on essential goods such as fresh foods and products highly consumed during Tet, including confectionery and beverages. These items are carefully prepared in large quantities at competitive prices, with all products subjected to strict quality and origin checks to ensure consumer health and safety.

“We have observed a 10-20% increase in customer traffic across the WinMart/WinMart+/WiN network compared to regular days, with peak hours in the evenings and weekends. Demand is expected to surge in the coming days as Tet approaches,” a WinMart representative shared.

Popular items include essential goods such as fresh foods, confectionery, and beverages, particularly mid-range products catering to the trend of purchasing high-quality and reasonably priced Tet goods.

Regarding pricing, Tet gift products at WinMart have remained stable compared to last year. Notably, under the “affordable pricing” strategy maintained throughout the year to offer customers quality shopping baskets at better savings, WinMart/WinMart+/WiN regularly runs promotional programs twice a month, including Brand Week.

Additionally, the chain offers 20% fixed discounts for members on WinEco fresh vegetables and MEATDeli chilled meats. Customers can also shop conveniently through the website https://winmart.vn and enjoy special discounts and promotional codes for online shopping to stimulate consumer demand.

The Hanoi Trade Corporation (Hapro) has also worked with suppliers to increase Tet goods stockpiles by 2-3 times the usual levels to meet shopping needs before, during, and after the Lunar New Year. This ensures a wide variety of high-quality products with transparent origins, safe for health, and market price stability, cited VOV.

Purchasing power at supermarkets sees a gradual increase.

The BRGMart supermarket system has launched a festive Tet sales program from January 2 to January 28, offering thousands of discounts of up to 50%.

Bruno Jousselin, Chief Operating Officer and General Director of MM Mega Market Vietnam, shared that the chain is running a 35-day Tet campaign until January 28. With the lively theme “Dragons and Snakes Bring Deals,” the campaign aims to deliver exceptional value through unique pricing strategies, while ensuring customers experience unprecedented savings this festive season.

According to Jousselin, this 35-day initiative not only reinforces the firm’s commitment to delivering outstanding value to customers but also energizes MM team to provide the best services during the year’s biggest festive season.

Tet gift baskets in high demand

To meet diverse customer needs and create a distinct edge for its Tet gift baskets, WinMart offers both traditional pre-packed baskets catering to various customer segments and personalized baskets. Customers can freely select items based on their preferences and budgets, creating unique and meaningful gifts. Bulk orders enjoy discounts of up to 7.5%.

Overall, sales of Tet items have grown significantly compared to regular days, particularly for confectionery (up by over 85%) and beverages, including alcohol (up by 100%). Fresh foods like meat, fish, vegetables, and frozen goods are also prioritized for daily meals. WinMart’s Tet gift baskets offer diverse designs and price ranges, allowing customers to customize their selections.

Nguyen Anh Duc, Chairman of the Vietnam Retailers Association, noted, 'The growth in Tet goods this year is focused on essential items included in gift sets for low-income consumers, with sales increasing up to four times compared to last year. This reflects a community-driven trend of supporting low-income individuals, especially in remote and rural areas."

15 fireworks locations and festive highlights for Lunar New Year 2025 in HCMC

Ho Chi Minh City will celebrate the Lunar New Year 2025 with 15 fireworks displays across the city, including two high-altitude sites, marking a significant expansion from the previous year.

The Ho Chi Minh City People’s Committee has approved the proposal by the City’s Military Command and the Department of Culture and Sports for fireworks shows to ring in the new year.

The displays will take place from midnight to 12:15 a.m. on January 29, 2025, the first day of the Lunar New Year.

The two high-altitude locations are:

The entrance of the Saigon River Tunnel in Thu Duc City.

Ben Duoc Memorial Temple in Cu Chi District.

The 13 low-altitude locations are spread across the city, including:

Thu Duc City: Thao Dien Urban Area, near Rach Chiec Bridge along the Saigon River, and Ben Noc Memorial Temple.

Other districts: Rach Dia Bridge area (Nha Be District), Dam Sen Cultural Park (District 11), Memorial Site of the 1968 Tet Offensive (Binh Chanh District), Tay Bac Industrial Park (Cu Chi District), Rung Sac Martyrs Memorial (Can Gio District), central square in District 7, the park in Tan Thoi Nhat Residential Area (District 12), Hoa Binh Square (Go Vap District), Nga Ba Giong Martyrs Memorial (Hoc Mon District), and the area near Binh Dien Market (District 8).

This is the first time Ho Chi Minh City has organized fireworks displays at 15 locations during the Lunar New Year, significantly expanding from the eight locations in the 2024 celebration.

Additional Lunar New Year activities

Besides fireworks, the city will host a 3D light projection display on the Ho Chi Minh City People’s Committee building to welcome the new year.

Fireworks display at the Saigon River Tunnel entrance in Thu Duc City during New Year’s Eve 2025. Photo: Nguyen Hue

Other festivities include the "Celebrate Spring 2025 – Celebrate the Glorious Party" exhibition, running from January 25 to February 9 at various locations: Lam Son Park (opposite the City Opera House), Dong Khoi Street (near the Department of Culture and Sports and Chi Lang Park), and the Pasteur-Ly Tu Trong intersection.

The city will also hold a Lunar New Year gathering for overseas Vietnamese on January 18, VNN reported.

Ho Chi Minh City’s signature events include the Nguyen Hue Flower Street Festival, Book Street Festival, Tet Rice Cake Festival, and ceremonies to present banh tet to the Hung Kings and Nguyen Huu Canh.

The annual Tet Flower Market, featuring the unique “on the wharf, under the boat” theme, will take place from January 14 to January 28 in District 8.

Additionally, the Spring Flower Festival and Tet Flower Market will run from January 26 to February 2 at Tao Dan Park.

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