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Russian President Vladimir Putin.

President Putin’s Vietnam visit to further deepen bilateral relations

"Independence" newspaper, Russia's prestigious political and current affairs analysis website, recently published an article titled "Vietnam - A special destination of President Vladimir Putin" by international current affairs analyst Grigory Trofimchuk.

The article emphasizes that President Putin's state visit to Vietnam from June 19 to June 20 at the invitation of General Secretary of the Communist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong carries special significance.

The visit is highly symbolic as it takes place amid both nations celebrating the 30th anniversary of the signing of the Treaty on Principles of Friendly Relations between the Russian Federation and the Socialist Republic of Vietnam (1994-2024), which in turn set the foundation and legal basis for bilateral relations in the new stage of development.

The author of the article clearly states that the former Soviet Union, today's Russian Federation, and Vietnam adhere to consistent principles of broad cooperation and partnership, cited VOV.

The nation stands out among Russia's friendly partners, with the sound cooperative relationship between the two countries being demonstrated in the past and present.

Regarding economic and trade relations, according to the article, the Free Trade Agreement (FTA) between the Eurasian Economic Union (EAEU) and the country signed back in 2015 is viewed as a reliable guarantee for the principle of free collaboration between both sides.

As a comprehensive strategic partner of the Russian Federation, the nation holds an important position in Russia's "pivot to the East'' policy. In addition, closer coordination between the two nations will further contribute to stable development in the important international economic region of Southeast Asia.

There is huge potential for both sides as they seek to enhance economic, trade, and investment ties, with energy being a key area of ​​linkages. Cultural and educational exchanges are also being intensified while locality-to-locality co-operation is increasingly bolstered, with the Vietnamese community in Russia serving as a bridge for the promotion of such activities, Trofimchuk went on.

At the end of the article, the author affirmed that looking forward to another important event, the 75th anniversary of the two countries’ diplomatic relations (1950-2025), the Vietnam visit of the Russian President will add extra impetus to further deepening the comprehensive strategic partnership.

Vietnam, New Zealand share intensive, extensive relations: ambassador

New Zealand Ambassador to Vietnam Caroline Rachel Beresford highlighted the important, intensive, and extensive relations between the two countries while talking to the media ahead of the 49th anniversary of diplomatic ties (June 19, 1975 - 2024).

Considering the Vietnamese people who used to study or travel to New Zealand crucial contributors to bilateral ties, she said her country pays great attention to Vietnamese students and hopes to see more coming to enhance mutual understanding and trust to jointly work towards the future.

In 2025, the two countries will celebrate 50 years of their diplomatic relations and five years of the strategic partnership, Beresford continued, perceiving that this milestone will herald new focal cooperation areas matching their strengths and competitive edges, according to VNA.

PM Pham Minh Chinh (right) meets with New Zealand Governor-General Dame Cindy Kiro on March 11, 2024 as part of his official visit to New Zealand. (Photo: VNA)

She took agricultural technology as an example, noting that New Zealand boasts world-leading agricultural technologies while Vietnam is now in need of such technologies, especially for the Mekong Delta, which is being threatened by different environmental issues.

Given this, the ambassador said, future bilateral relations should focus on the areas where the two countries could be complementary to each other.

She also expressed her hope for the connections to be expanded to new spheres such as digitalisation and aerospace technology.

Noting the bilateral trade target of US$3 billion, Beresford said to that end, New Zealand prioritizes fully realizing the trade commitments between the two countries, including the Regional Comprehensive Economic Partnership (RCEP), the Asia-Pacific Economic Cooperation (APEC), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The countries should maximize these deals by tapping into the strengths of each side, she added.

The ambassador pledged that during her term, she will exert efforts to assist both sides’ businesses, saying she believes more New Zealand companies will come to invest in Vietnam.

Talking about bilateral agricultural cooperation, the diplomat held that new opportunities are now wide open for sustainable agriculture as consumers in particularly demanding markets like Europe and the US require origin traceability to ensure the items they buy are clean and safe. New Zealand has developed technologies necessary for meeting such requirements, and this is also what it can share with Vietnam.

Under a project worth over NZD6 million (US$3.6 million) announced during Prime Minister Pham Minh Chinh’s visit in March 2024, New Zealand will cooperate with Vietnam to develop passion fruit cultivation. This project will help Vietnamese businesses export more passion fruit products to New Zealand. Earlier, the two sides reaped success in a similar partnership for dragon fruit of Vietnam, according to Beresford.

Vietnam leads Southeast Asia in attracting long-term investors

Many investment opportunities are opening up for foreign investors in Vietnam, especially in the digital economy and technology.

Last week, many international newspapers and organizations commented that Vietnam is a potential long-term investment destination.

A recent survey by Bain & Company found that Vietnam leads Southeast Asia in attracting long-term investors. News website News.cn cited this survey as saying that investors believe investment activities in Vietnam will increase by 83 percent in the period 2025 - 2030.

According to the latest forecast published this week by UOB Bank, Vietnam's second-quarter GDP will grow by 6 percent because economic activities are on track.

The report commented that positive FDI inflows show that investors continue to believe in the political environment and the competitiveness of the Vietnamese economy.

Specifically, foreign investment flows since the beginning of the year have increased 7.8 percent over the same period to US$8.3 billion in May, the fastest increase in 5 months since 2018, VGP reported.

Photo: VGP

Vice President of the European Chamber of Commerce in Vietnam (EuroCham), Torben Minko, said FDI and business growth are likely to increase in Vietnam. This will help Vietnam strengthen its position in the Asian market.

In the report "Vietnam at a glance", HSBC stated that Vietnam is the fastest growing digital economy in ASEAN in 2023 and has the potential to become the second largest digital economy in 2030.

With great interest in Vietnam's rising digital economy and a population of more than 100 million people with a working-age rate of nearly 70 percent, Vietnam is showing strong potential for digital technology consumption in this country.

General Director of Standard Chartered Bank Vietnam, Michele Wee, said that Vietnam is becoming an important destination for the technology sector. Gradually Vietnam will no longer be just a low-cost producer but will begin to develop more capabilities to create high-quality products.

Malaysian website The Star said that the wave of innovative startups in Vietnam is developing at a "breakneck" speed, attracting the attention of many domestic and foreign investors.

The article states that Vietnam is currently the third pole in the golden triangle of startups in Southeast Asia, along with Singapore and Indonesia. Vietnam has the perfect combination of top tech talent and an existing culture of innovation and is very attractive to global investors.

Deputy PM highly evaluates ambassador’s contributions to Vietnam - US ties

Deputy Prime Minister Tran Luu Quang received US Ambassador to Vietnam Marc Evans Knapper in Hanoi on June 18, speaking highly of the diplomat’s contributions to the elevation of the bilateral ties to a comprehensive strategic partnership last September.

Appreciating Knapper’s role in the development of the two countries’ relations, Quang called on the ambassador to continue to help enhance the sound cooperative ties.

He asked the two sides to increase meetings and mutual visits to further intensify all-round connections in the time ahead, cited VNA.

Deputy PM Tran Luu Quang (right) receives US Ambassador to Vietnam Marc Evans Knapper in Hanoi on June 18. (Photo: VNA)

They should work closely together to plan activities marking 30 years since the normalization of relations, 80 years of cooperation between Vietnam and the US, and the first anniversary of the comprehensive strategic partnership in 2025, Quang went on.

The Deputy PM also proposed the US soon recognise the market economy status of Vietnam, assist the latter with the realization of the development goals for 2045 as well as international targets and commitments on green transition and climate change response, and increase support in settling war consequences.

For his part, Knapper emphasized that over the last nine months, the two countries have obtained numerous achievements in the implementation of bilateral commitments and the comprehensive strategic partnership framework.

In particular, linkages in the semiconductor and high technology industries have been promoted quickly, he noted.

The US supports and is willing to help Vietnam reach the goal of becoming a high-income economy and develop green and digital economy, the ambassador said, adding that the two sides have agreed to boost the sharing of information to tackle difficulties and bottlenecks that may occur during the cooperation process in a timely manner.

Da Nang looks towards broader international exchanges

The Center for International Cooperation and Foreign Affairs Services (CIFA) of Da Nang has signed three Memorandums of Understanding (MoUs) on cooperation and hosting international events, cultural exchanges, investment, and tourism promotions with partners from the Republic of Korea (RoK), Singapore, and the Japanese Chamber of Commerce and Industry in the central city.

Tran Chi Cuong, vice chairman of the municipal people’s committee, said that the CIFA will help to support international organizations and businesses in the central city, along with the central and Central Highlands region, thereby contributing to Da Nang’s external activities, as well as creating links with international partners and friends.

Following the signing of the MoUs, the CIFA will work in cooperation with Pax I&D company of the RoK, Sporting Insight Asia of Singapore, and the Japanese businesses community in central Vietnam to launch a broad array of cultural and tourism events which will serve to highlight investment opportunities, as well as international exchange programs.

Da Nang has opened liaison offices in Tokyo and Yokohama to enhance tourism, trade, and investment, while Russia, Laos, China, Japan, and the RoK have also opened general consulate offices in the central city, reported VOV.

Photo: VOV

A new joint visa application center for Belgium, Germany, and Italy, along with a joint UK and Australia center, have been opened, while Spain and Poland have also started honorary consul offices in Da Nang.

The American Chamber of Commerce (AmCham) has already set up office in the city, while the RoK’s Trade-Investment Promotion Agency has been working on investment links between the RoK and the coastal city.

Da Nang has been designated as a favorite international destination for Meetings Incentives Conferences and Events (MICE), as well as for golf tournaments and wedding exhibitions following its successful hosting of the APEC event back in 2017.

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