Vietnam News Today (Jan. 29): Foreign Ambassadors Reflect on Charm of Vietnamese Tet

	Vietnam News Today (Jan. 27): Nordic Green Transition Creates New Opportunities for Vietnamese Businesses
	Vietnam News Today (Jan. 28): Russia Ready to Expand Cooperation in New Energy Areas with Vietnam

Cuban Ambassador to Vietnam Rogelio Polanco Fuentes.

Foreign ambassadors reflect on the charm of Vietnamese Tet

On the occasion of the Lunar New Year 2025, foreign ambassadors in Vietnam have shared their heartfelt impressions and cherished experiences of celebrating Tet in the country.

Despite being in Vietnam for less than two months, Cuban Ambassador Rogelio Polanco Fuentes has been deeply charmed by the country, especially Hanoi. In a Tet greeting video filmed at Hoan Kiem Lake, considered the "heart of Hanoi," the ambassador sent warm wishes and a message of solidarity to the Vietnamese people. He expressed his hope that this holiday, marked by unity and friendship, would bring new energy and usher in an era of prosperity, happiness, and sustainable growth for Vietnam.

“The glorious history of Vietnam, its rich culture, and the kindness of its people are invaluable treasures to be preserved. We hope for peace to be restored, just as the legendary sword was returned to the lake, allowing us to enjoy life in this beautiful country," said the Cuban diplomat.

2025 is the “Vietnam-Cuba Friendship Year,” marking 65 years of diplomatic ties between the two nations. Over the decades, the Vietnam-Cuba relationship has continuously advanced across multiple fields.

Celebrating his second Tet in Vietnam, French Ambassador Olivier Brochet purchased a traditional áo dài (long dress) and personally decorated a peach blossom branch and dahlia bouquet, symbolizing good fortune and luck. Recalling his Tet shopping experience, he was impressed by how Vietnamese people manage to transport large peach and kumquat trees on motorbikes. “These everyday scenes give me a deeper understanding of Hanoi and Vietnam,” he shared.

“I’m also fascinated by Hanoi’s vibrant cultural life, with its cinemas and theaters. I hope the city can further promote its culture internationally. Vietnam has consistently set ambitious goals over its 40 years of renewal and has successfully achieved them. France, as one of the first Western partners to support Vietnam’s development, remains committed to accompanying the country into this new era,” Ambassador Brochet added.

For British Ambassador Iain Frew, this is his third Tet in Vietnam. Regarding his two-and-a-half years in the country, he said Tet is different every year. In his first year, he returned to the UK for Tet, but last year he stayed in Vietnam throughout the holiday. It’s fascinating to see how bustling Hanoi becomes, only to transform into a tranquil city during Tet. It’s truly a special time, he continued.

The ambassador also expressed his love for Vietnamese traditions, such as making banh chung and the Kitchen Gods’ offerings, adding that these traditions, the unique dishes, and their connections to the holiday make Tet a wonderful experience for him.

Ambassador Frew noted the strong development of UK-Vietnam relations in recent years, spanning areas such as trade, energy transition, education, and security. He remains optimistic about the partnership’s bright future, cited VOV.

Swiss Ambassador Thomas Gass, celebrating his third Tet in Vietnam, shared his excitement for the holiday. “I love the bustling atmosphere before Tet, the colorful flower markets, and the sight of people bringing trees as gifts to their loved ones. It’s wonderful,” he said. His favorite Tet dishes include banh chung, bamboo shoot soup, and che lam, a sweet treat made from sticky rice and ginger.

Similarly, Dutch Ambassador Kees van Baar has been captivated by Vietnam, its people, and its culture. “Vietnam feels like home to me. I love the vibrant culinary culture, the friendly people, and the lush greenery that reminds me of the Netherlands. But, of course, the food here is distinct, and I enjoy every dish,” he said.

The Dutch diplomat highlighted his love for the energetic days leading up to Tet, with the streets transforming into vibrant parks filled with kumquat and peach trees. He fondly recalled watching fireworks by West Lake on New Year’s Eve and enjoying the first day of the year with friends over coffee and shared meals.

Norwegian Ambassador Hilde Solbakken and her family have also embraced life in Vietnam, particularly in Hanoi. “We love the bustling street life and are deeply impressed by the hardworking nature of the Vietnamese people. We feel so at home here,” she said.

This year, the ambassador plans to enjoy a quiet Tet in Hanoi, wandering around the Old Quarter, decorating a peach blossom tree, and visiting beautiful pagodas in the city. “We will write our wishes and hang them on the tree, hoping for a peaceful and happy year ahead,” she shared.

Vietnam establishes investment support fund to attract more major tech investors

Vietnam expects to attract more foreign direct investment (FDI) with the establishment of an investment support fund which offers large incentives to large tech firms.

The Vietnamese Government has signed a decree which will establish the fund, expecting to attract major investors with subsidies which it hopes will be particularly attractive to the foreign tech sector.

On 31 December 2024, Decree No 182/2024/ND-CP on the establishment, management and usage of the Investment Support Fund was officially issued by the Government. The Decree establishes the framework for the fund, providing cash grants and subsidies to companies which qualify.

Under the decree, the qualification criteria for project eligibility have been meticulously defined, ensuring alignment with economic development priorities.

The fund will be founded by the Government, along with the Ministry of Planning and Investment who are mandated to operate the fund, which will be financed from the State budget.

There are two main types of subsidy under the fund, known as an annual expenses subsidy and an initial investment subsidy.

For the first type, the fund is directed at providing annual financial support for enterprises and investment projects in the high tech arena and in research and development, while the second type would be available for enterprises having R&D centers in semiconductors and AI.

Types of expenses for subsidy include training and human resource development expenses, R&D expenses, cost of newly invested fixed assets, manufacturing expenses of high-tech products, social infrastructure construction expenses and other expenses, as determined by the Government.

The decree is expected to encourage development of high-tech industries, particularly in the semiconductor and artificial intelligence (AI) sectors. Accordingly, enterprises investing in research and development projects in these two sectors will be eligible for financial support of up to 50 % of their initial investment costs.

This initiative is designed to also create favorable conditions for Vietnamese businesses to seize opportunities in the global value chain.

The decree will be active from fiscal year (FY) 2024, and the specified timeline for annual applications for subsidy is before 10 July of the year following the subsidised FY.

Minister of Planning and Investment Nguyen Chi Dung stressed that the fund will play a key role in establishing Vietnam as the leading AI research and development center in Asia.

For the first time ever, Vietnam has rolled out this new groundbreaking incentive scheme, marking a significant milestone in the country's efforts to attract world-class high-tech businesses to further invest in Vietnam, said Deputy General Director of Tax and Legal Advisory Services, Deloitte Vietnam Bui Ngoc Tuan.

This strategic initiative underscores the Government's commitment to fostering innovation and establishing Vietnam as a hub for cutting-edge technology.

With the decree being effective from FY 2024, enterprises are being encouraged to start their assessment and relevant preparation as quickly as possible, to ensure that they are in a position to get support from the fund, as well as to be ready for the first application to be submitted in July 2025, where applicable, according to Deloitte Vietnam.

The Foreign Investment Agency, Ministry of Planning and Investment, said that in 2024, a number of notable projects of large companies expanded their operations in the country including a capital increase of Samsung Display, the semiconductor manufacturer Amkor and LG Display. In addition, there are many projects underway managed by tech firms such as Foxconn, Goertek and Luxshare.

According to the agency, foreign investment to Vietnam has continued to grow in recent years, but the number of large-scale investment projects with high tech content continues to be modest.

Currently, Vietnam has 110 existing foreign investment projects with a capital of over 500 million USD per each, of which only 27 projects are in the high-tech sector.

Meanwhile, the global minimum tax applied from 2024 also affects Vietnam's competitiveness. Some businesses have considered new investment and expansion plans in Vietnam.

Therefore, the decree on establishing this fund with many supportive policies for investors contributes significantly to increasing the attractiveness of the investment environment in Vietnam, thereby attracting more large-scale projects, especially in the fields of semiconductors and AI.

FDI disbursement in 2024

Vietnam’s foreign direct investment (FDI) disbursement reached an all-time high of about 25.4 billion USD last year, an annual increase of 9.4%, according to the Foreign Investment Agency (FIA).

A total of 3,375 new projects worth 19.7 billion USD were approved, up 1.8% and down 7.6% year-on-year, respectively. FDI inflows targeted 18 of Vietnam’s 21 economic sectors, with the manufacturing and processing industry taking the lead with 25.6 billion USD, followed by real estate with 6.3 billion USD.

In terms of investors, 114 countries and territories poured capital into the country. Singapore topped the list with 10.2 billion USD, followed by the Republic of Korea, China, Hong Kong (China), and Japan, according to VNA.

A smartphone production line at Samsung Electronics Vietnam Co, Ltd in Yen Binh Industrial Park, Thai Nguyen province. (Photo: VNA)

Bac Ninh emerged as the top destination for FDI, attracting 5.1 billion USD, 2.8 times higher than the 2023 figure. Hai Phong and Ho Chi Minh City secured the second and third spots, attracting 4.9 billion USD and about 3 billion USD, respectively.

The FIA said foreign capital continues to play a pivotal role in Vietnam’s economic development. The implementation of major projects in semiconductors, energy and high-tech industries have bolstered the local economic transformation.

By the end of 2024, Vietnam had attracted a cumulative 502.8 billion USD in FDI across 42,002 valid projects. The manufacturing and processing industry dominated with 308.8 billion USD, followed by real estate (73.2 billion USD) and power production and distribution (41.9 billion USD).

The RoK was the top investor with over 92 billion USD, followed by Singapore, Japan, Taiwan (China) and Hong Kong (China). HCM City led in FDI attraction with nearly 59 billion USD, followed by Binh Duong (42.5 billion USD) and Hanoi (42.3 billion USD).

Vietnam named co-coordinator for UN pandemic response conference

On January 27, Philemon Yang, President of the 79th session of the United Nations General Assembly (UNGA), appointed Ambassador Dang Hoang Giang, Head of Vietnam’s Permanent Mission to the UN, and Ambassador Maurizio Massari, Permanent Representative of Italy to the UN, as co-facilitators to prepare for the UN High-Level Meeting on Pandemic Prevention, Preparedness and Response in 2026.

The UNGA President expressed his appreciation to the two ambassadors for taking on this role, expressing confidence in their abilities to collaborate effectively with UN member states and to foster consensus in organizing the high-level meeting. The meeting will aim to enhance global readiness, response, and prevention of pandemics while advancing international commitments on health and wellness, including the Declaration on Future Generations.

This is the first time Vietnam has been appointed as a co-facilitator for preparing a major UN conference, reflecting the UNGA President’s and the international community’s recognition of Vietnam’s reputation, role, and positive contributions to global efforts, particularly in pandemic prevention and control, VOV reported.

Vietnam and Italy to co-ordinate UN High-Level Meeting on Pandemic Prevention, Preparedness and Response in 2026.

The nation has actively led efforts to strengthen the global health system and improve pandemic preparedness in recent years. Notably, Vietnam proposed the annual observance of the International Day of Epidemic Preparedness on December 27 and played a significant role in promoting the first UN High-Level Meeting on the subject in 2023.

The glorious journey connecting Vietnam and Russia

Over the past 75 years, Vietnam-Russia relations have been tested, forged and increasingly strengthened through the joint nurturing of generations of leaders and peoples of both countries. The comprehensive strategic partnership between Vietnam and Russia continues to grow, expand and deepen substantially across all fields. It is currently at an opportune moment to enter a new development phase.

The relationship between Vietnam and Russia maintains high trust in all areas and continues to develop. In terms of political cooperation, regular high-level delegation exchanges have created strong momentum for developing a comprehensive strategic partnership between the two countries.

Vietnamese Ambassador to Russia Dang Minh Khoi affirmed that in a world with major geopolitical, economic and security changes, the significance of this relationship for both nations has become more profound and practical than ever.

Vietnam, as an active member of ASEAN and a dynamic, strong developing nation, particularly values and prioritises its traditional relations and comprehensive strategic partnership with Russia. Vietnam considers Russia a top priority partner in its foreign policy. Vietnam wishes to continue developing traditional friendly relations with Russia for the benefit of both nations and the prosperity of both peoples.

For Russia’s part, in its turn to the East policy, Moscow highly values Vietnam’s role in promoting peace, stability and cooperation in the Asia-Pacific region, considering Vietnam an important partner in implementing its regional foreign policy.

Through close cooperation, Vietnam and Russia can enhance their international prestige and influence while expanding new opportunities for collaboration and development in areas where both sides have strengths and needs, meeting the aspirations of both peoples.

Economic, trade and investment cooperation between the two countries has recently strengthened. Vietnam was the first country to sign a free trade agreement with the Eurasian Economic Union (EAEU), of which Russia is a member. According to Vietnam’s Trade Counsellor to Russia Duong Hoang Minh, most import and export goods between the two countries now enjoy zero or very low tax rates, cited NDO.

Vietnamese artists perform at the opening ceremony of the Vietnamese Cultural Days in Russia in 2024.

Affirming that Russia is a large, diverse and competitive market, and a gateway for Vietnamese goods to enter the EAEU and Commonwealth of Independent States markets, Minh suggested that Vietnamese businesses need to establish systematic brand development strategies with specific implementation plans to establish and develop market share for their products here.

In addition to the above, bilateral cooperation has developed positively across many fields such as defence and security, culture, tourism, education and training, energy, and innovation.

Practical, rich and engaging people-to-people exchanges serve as bridges connecting Vietnam and Russia. Professor Vladimir Buyanov, Chairman of the Russia-Vietnam Friendship Association emphasised: “The glorious history of relations between the two nations is primarily based on traditional friendship and people-to-people exchanges.”

Historically, the two countries cooperated in the struggle against colonial and imperial aggression. The spirit of mutual assistance and ideals of justice, peace and progress have deeply penetrated the consciousness of both peoples, and on this basis, Russia and Vietnam have been, are, and will continue to be true friends and reliable partners.

Vladimir Buyanov expressed confidence that new chapters will be written in the history of bilateral relations for the benefit of both nations. In terms of people-to-people and social diplomacy, the Russia-Vietnam Friendship Association actively works with Vietnamese friends and colleagues, ready to contribute their efforts to cultivate sincere and close feelings between the peoples of both countries.

The 75th anniversary of diplomatic relations is an opportunity for both countries to look back on their glorious journey and the cooperation achievements gained over time, to jointly nurture traditional friendly relations and the comprehensive strategic partnership to develop increasingly deeply and substantially, following the aspirations of both peoples, contributing to peace, cooperation, prosperity and affluence in the region and the world at large.

Nguyen Hue Flower Street opens for Tet 2025 celebrations

The Nguyen Hue Flower Street has kicked off the 2025 Lunar New Year (Tet) holiday festivities with its grand opening on January 27, offering a vibrant blend of tradition and modernity that promises to delight both locals and visitors alike.

This year’s theme, “A Beautiful Homeland, a Joyful and Peaceful Spring,” is expressed through the street’s design, which is divided into three sections: Unity, Transformation, and Development, each of which tells a story, highlighting key historical milestones in Vietnam’s journey toward progress.

Visitors will be welcomed by the stunning “Unity Dance” installation, a striking representation of national solidarity as the country embraces a new era.

Among the highlights are two impressive sculptures of Kim Ty (the male snake) and Ngan Ty (the female snake), placed prominently at the entrance.

These artistic creations not only celebrate the Year of the Snake but also embody themes of harmony and prosperity.

Measuring 25 and 42 meters in length, respectively, the snake couple features three intertwined loops, creating a sturdy base that stands over 11 meters wide and six meters high.

Around 70 per cent of the materials used in crafting these mascots are eco-friendly.

The snakes’ heads and underbellies are made from compressed boards, while their upper bodies sparkle with handcrafted mica pieces that reflect light, adding to their allure.

Each snake is adorned with thousands of mica scales — 2,700 for the male and 3,600 for the female — while LED lights along their underbellies bring a vibrant glow to the display, VNS reported.

Themed “A Beautiful Homeland, a Joyful and Peaceful Spring,” the Nguyễn Huệ Flower Street, has kicked off the 2025 Lunar New Year (Tết) holiday festivities. Photo: VNS

After a 12-year hiatus, the snake mascots are back, with this year’s designs being larger and more intricately crafted than those showcased during the previous Year of the Snake celebration in 2013.

The flower street features around 90 snake mascots, including a striking sculpture of a female cobra, symbolising the strength and grace of southern Vietnamese women, complete with a scarf and conical hat.

Modeled after a king cobra, this sculpture stands tall with its head raised high, draped in vibrant green hues.

Maria Gonzalez, a visitor from Spain, said: “This flower street is truly breathtaking. It’s a stunning showcase of Vietnamese culture, and I feel so lucky to experience it during the Lunar New Year holiday.”

Last year, the flower street welcomed over 1.2 million visitors, including many international guests.

Since its inception in 2004, Nguyen Hue Flower Street has blossomed into a beloved cultural highlight of HCM City during Tet.

The Flower Street will be open every day (from 7am to 10pm) until February 2, the fifth day of the new year.

Vietnam is celebrating a nine-day Lunar New Year holiday from January 25 to February 2.

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