Vietnam News Today (Mar. 11): Vietnam, Indonesia Elevate Ties to Comprehensive Strategic Partnership
	Vietnam News Today (Mar. 12): RoK Businesses to Explore Cooperation Opportunities in Vietnam

Photo: VOV

New Zealand media highlights Vietnam’s economic growth

New Zealand’s news website RNZ published an article on March 12 titled "Why we want to be mates with Vietnam," shedding light on Vietnam’s impressive economic growth and its expanding trade ties, including with New Zealand.

Author Alexia Russell described Vietnam as one of the world’s most popular travel destinations, with international tourist arrivals surging by 43% in 2024. From September, travel between the two countries will become more convenient as budget airline Vietjet launches direct flights between Auckland and Ho Chi Minh City.

Beyond tourism and education exchanges, the article also spotlighted New Zealand Prime Minister Christopher Luxon's recent visit to Vietnam, during which he signed a Comprehensive Strategic Partnership agreement aimed at creating new business opportunities in Vietnam’s thriving market.

This milestone builds on growing bilateral ties, with two-way trade between the two countries increasing by 123% since 2017, making Vietnam New Zealand’s 14th largest trading partner, cited VOV.

The article quoted Mark Piper, Chief Executive of Plant and Food Research, who joined the New Zealand Prime Minister’s trade delegation. He highlighted Vietnam’s untapped potential and the organisation’s five-year Viet Fruit program, which focuses on passion fruit cultivation.

According to Piper, the program aims to enhance production and post-harvest processes by boosting productivity, improving insect control, increasing resilience, and providing training to ensure long-term sustainability.

Meanwhile, RNZ political reporter Giles Dexter, who accompanied the Prime Minister on the trip, noted that the Comprehensive Strategic Partnership opens up new opportunities for practical cooperation, particularly as New Zealand businesses show increasing interest in Vietnam’s market.

Lebanon wishes to promote multi-faceted cooperation with Vietnam

Lebanese President Joseph Aoun on March 11 emphasized his country's desire to enhance cooperation in various fields with Vietnam.

Receiving Vietnamese Ambassador to Egypt and Lebanon Nguyen Huy Dung, who presented his credentials from President Luong Cuong to Joseph Aoun in Beirut, the Lebanese President said he admires Vietnam’s socio-economic achievements and will direct Lebanese agencies to collaborate closely with Ambassador Dung to ensure his successful tenure.

He also expressed his hope that the ambassador would make meaningful contributions to strengthening the friendship between the two nations.

Earlier, Dung presented a copy of his credentials to Lebanese Foreign Minister Youssef Rajji, who highlighted the fine friendship between the two nations and congratulated Vietnam on its recent development achievements, according to VNA.

Vietnamese Ambassador to Egypt and Lebanon Nguyen Huy Dung presents his credentials to Lebanese President Joseph (Photo: VNA)

He reaffirmed Lebanon’s commitment to working with Vietnam’s Government and Ministry of Foreign Affairs to deepen bilateral relations in a substantive and effective manner.

The ambassador affirmed that Vietnam attaches importance to expanding trade with emerging markets, including the Middle East and Africa.

Vietnam is ready to collaborate with Lebanon to establish effective bilateral and multilateral cooperation mechanisms, Dung noted.

Vietnam, Singapore elevate bilateral ties to Comprehensive Strategic Partnership

Vietnam and Singapore on Wednesday agreed to elevate their relations to a Comprehensive Strategic Partnership.

The agreement was reached by General Secretary of the Communist Party of Vietnam Central Committee To Lam and Singaporean Prime Minister Lawrence Wong during their summit meeting on March 11.

Prime Minister Wong warmly welcomed General Secretary To Lam on an official visit to Singapore, and spoke highly of the great achievements of the bilateral ties over the past more than five decades since the establishment of diplomatic relations in 1973.

General Secretary To said he was pleased to visit Singapore again in his new position on the occasion of special events of the two nations, including the 80th anniversary of Vietnam's National Day and the 60th anniversary of the Independence Day of Singapore.

The two leaders agreed to chart major directions and tasked their ministries and agencies to develop an action program to implement the Comprehensive Strategic Partnership.

Specifically, both sides agreed to focus on enhancing political trust through delegation exchanges at all levels, especially high-level ones; expanding and deepening economic, trade and investment cooperation; promoting cooperation in digital transformation, innovation, green economy, clean energy; strengthening cooperation in the fields of defense - security, culture, education, tourism and people-to-people exchanges.

To suggest Singapore expand the VSIP network towards innovation, low carbon emissions, and enhance cooperation in the fields of digital transformation and emerging technologies, VGP reported.

The talks between Vietnamese General Secretary To Lam and Singaporean Prime Minister Lawrence Wong, Singapore, March 12, 2025. Photo: VNA

In reply, Wong said that Singapore would continue to support Vietnam in improving the quality of human resources, especially strategic-level officials, and effectively implement the Memorandum of Understanding on the Vietnam-Singapore Innovation Talent Exchange Program, and wants to send Singaporean students to Vietnam to study, research and promote cultural and sports exchanges to increase mutual understanding between the two nations.

Regarding regional issues, the two leaders were unanimous in strengthening ASEAN solidarity and pay due attention to the sustainable development of subregions, including the Mekong Subregion, thus actively contributing to ASEAN's self-reliance, prosperity, sustainable development, and central role in the bloc.

The two leaders also affirmed their determination to build the East Sea into the sea of peace, cooperation and development, and work together with ASEAN countries to promote negotiations on a practical, effective Code of Conduct in the East Sea (COC) in accordance with international law, especially the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

After talks, the two leaders witnessed the signing of cooperation documents in the fields of wind power trade, digital transformation, prevention and combat of transnational crimes, financial innovation, forging an important foundation to promote the Vietnam - Singapore Comprehensive Strategic Partnership in the coming time.

Up to now, Vietnam has established comprehensive strategic partnership with 12 countries, including China (2008), Russia (2012), India (2016), South Korea (2022), the U.S. (2023), Japan (2023), Australia (2024), France (2024), Malaysia (2024), New Zealand (2025), Indonesia (2025) and Singapore (2025).

WB forecasts Vietnam's economy to grow 6.8% this year

Vietnam’s Gross Domestic Product (GDP) is projected to expand by 6.8% this year and 6.5% in 2026, according to the World Bank’s (WB) latest economic update report for Vietnam, Taking Stock, released at a press conference in Hanoi on March 12.

The report highlights that Vietnam will remain one of the fastest-growing economies in the region and globally in 2024.

Speaking at the event, Dr. Andrea Coppola, Lead Economist for Vietnam, Cambodia, and Laos at the WB, emphasized the need for policies that adapt to shifts in global trade and stimulate domestic consumption to ensure balanced growth.

These policies should focus on boosting public investment, addressing financial sector risks, enhancing energy resilience, and advancing structural reforms.

Dr. Coppola noted that while Vietnam’s economy is expected to maintain steady growth in 2025 and 2026, inadequate infrastructure remains a challenge, requiring further investment.

He also underscored the importance of fiscal space and improved public investment management in mobilizing resources for infrastructure projects, particularly in energy, logistics, and transport, to sustain growth momentum in the medium and long term, cited VOV.

An overview of the press conference.

Meanwhile, Mariam J. Sherman, WB Country Director for Vietnam, Cambodia, and Laos, remarked that Vietnam is set to maintain robust economic growth over the next two years. However, she suggested leveraging fiscal space to better prepare for potential uncertainties.

“Growth-enhancing public investment, especially in urban, transport, and energy infrastructure, will be critical, provided the authorities can both scale it up and ensure that spending is efficient,” she added.

Experts cautioned that despite Vietnam’s high economic openness, external risks, including a global economic slowdown and escalating trade tensions, could weigh on industrial output, manufactured exports, and overall growth.

Opportunities for economic development across the entire value chain

The WB report also underscores Vietnam’s push for e-mobility as a crucial step in greening the transport sector, curbing air pollution, and fostering economic development across the entire value chain.

In 2021, the transport sector accounted for 32.9 million tonnes of CO2-equivalent (CO2e) emissions, or 7.2% of Vietnam’s total greenhouse gas emissions. To meet its 2050 net-zero target, the country must prioritize vehicle electrification.

According to the report, transitioning to electric vehicles (EVs) could cut net emissions by 2.2 million tonnes of CO2 by 2050, even under the current power grid mix. The shift could also generate up to 6.5 million cumulative jobs by 2050, particularly in battery production and charging infrastructure development.

To accelerate EV adoption in the two-wheeler segment, the report recommends enforcing stringent safety standards, incentivizing high-performance batteries, expanding charging and battery-swapping stations, and offering affordable financing options to reduce upfront costs.

In preparation for large-scale EV adoption expected after 2035, Vietnam must also upgrade its power system to accommodate rising electricity demand and establish a nationwide fast-charging network within the next decade.

Chu Lai International Port aims to become world-class logistics center

Chu Lai International Port in Quang Nam Province has established itself as a key logistics hub for the central and Central Highlands regions and for neighboring nations Laos and Cambodia, facilitating trade and contributing to the inter-regional economy.

Operated by the Truong Hai International Logistics Limited Liability Company (THILOGI), the port began officially operating in May 2012.

It has two specialized docks spanning a total area of 140 hectares.

The first accommodates 50,000DWT cargo ships, while the second can handle vessels up to 30,000DWT.

They can host four vessels simultaneously, enhancing operational efficiency and reducing waiting times.

Each dock is equipped with state-of-the-art crane systems capable of loading and unloading over 100 containers per hour.

The warehouses, built to international standards, cover 300,000 square metres and have a storage capacity of 500,000 tonnes, VNA reported.

Chu Lai International Port in Quang Nam Province aims to become a world-class, multifunctional logistics center in 2027. (Photo courtesy of THILOGI)

They meet key criteria for storage, preservation and information control.

Phan Van Ky, director of the port, said the company “has focused on building consistent infrastructure, enhancing service quality, and increasing loading and unloading capacity to shorten operation times and provide customers with the most optimized transportation solutions.”

During his visit to the port last month, Prime Minister Pham Minh Chinh commended THILOGI’s efforts in investing in and upgrading the facility.

To ensure safety, THILOGI has accelerated construction of the Ky Ha channel, which is set to become operational in June this year.

The Prime Minister has instructed the Ministry of Transport to quickly complete all remaining procedures to enable work on the new Cua Lo channel.

Once completed in 2028, the channel will enable Chu Lai Port to accommodate vessels weighing over 50,000DWT, thereby reducing logistics costs.

This will also allow it to offer competitive shipping rates comparable to those in the country’s northern and southern regions.

National Highways 14B and 14D have been upgraded as part of the transport infrastructure in the East-West Economic Corridor No. 2, facilitating the movement of goods, particularly container cargo, from northern Cambodia, southern Laos, and northeastern Thailand to Chu Lai International Port.

Quang Nam province has identified the maritime economy as a focal point for its development, seeking to become one of the country’s leading marine economic centers.

Chu Lai International Port aims to become a multifunctional logistics center specializing in container services by 2027.

In the meantime, it will continue developing its infrastructure and investing in modern equipment to enhance capacity.

The port will also expand its domestic and international shipping routes, offering businesses optimal transportation solutions.

By the end of 2025, THILOGI will put into use two container ships with a total capacity of 3,600TEU to serve international maritime routes from Chu Lai Port to ports in Xiamen and Shanghai in China.

Simultaneously, the company will strengthen cooperation with major shipping lines to start direct routes to Korea, Japan, Taiwan (China), India, Thailand, the Philippines, and Malaysia.

Leading international transshipment ports such as Shanghai and Kaohsiung (China) and Busan (the RoK) will facilitate freight forwarding to the US, Canada, Europe, and Australia.

To expand its presence in Laos, Cambodia, and the Central Highlands, THILOGI has established the THILOGI Indochina Cross Border Trucking Limited Liability Company to develop land-based cargo services, ensuring efficient goods transportation to Chu Lai Port.

Hoang Chau Son, deputy head of the Quang Nam Economic and Industrial Zones Authority, said the port has “helped optimize logistics efficiency and attract investment in industrial zones and complexes in the region.”

With its strategic geographical location, consistent investment in infrastructure and equipment, and adoption of multimodal transportation, Chu Lai International Port is expected to become a major logistics center for the central and Central Highlands regions, boosting trade and regional economic development.

Vietnam News Today (Mar. 9): Indonesia-Vietnam Relations Contribute to Region’s Prosperity Vietnam News Today (Mar. 9): Indonesia-Vietnam relations contribute to region’s prosperity; Party leader To Lam begins working trip to Indonesia, ASEAN Secretariat, Singapore; Vietnam vital ...

Vietnam News Today (Mar. 10): 2025 to be a Dynamic Year for Vietnam – Malaysia Friendship Vietnam News Today (Mar. 10): 2025 to be a dynamic year for Vietnam – Malaysia friendship; Outbound investment increases by 9.5 times in two months; ...