Vietnam News Today (Mar. 14): Vietnam Always Regards US as Strategically Important Partner

	Vietnam News Today (Mar. 12): RoK Businesses to Explore Cooperation Opportunities in Vietnam
	Vietnam News Today (Mar. 13): Vietnam, Singapore Elevate Bilateral Ties to Comprehensive Strategic Partnership

Prime Minister Pham Minh Chinh (center) shakes hands with US Ambassador to Vietnam Marc Evans Knapper. (Photo: VNA)

Vietnam always regards US as strategically important partner: PM

Vietnam always considers the US a partner of strategic importance, Prime Minister Pham Minh Chinh said while receiving US Ambassador to Vietnam Marc Evans Knapper in Hanoi on March 13.

PM Chinh and Knapper acknowledged the results achieved in the relationship between the two countries recently, especially after Vietnam and the US upgraded their relationship to a Comprehensive Strategic Partnership. They discussed priority areas for promoting bilateral cooperation on the occasion of the 30th founding anniversary of diplomatic relations between Vietnam and the US.

The PM highly appreciated Knapper's efforts in promoting the Comprehensive Strategic Partnership, maintaining stable development momentum with many positive results, including maintaining and promoting high-level contacts, notably the very successful phone talks between Party General Secretary To Lam and US President Donald Trump before and after being elected.

He affirmed the message of Party General Secretary To Lam and senior Vietnamese leaders that they attach great importance to and want to cooperate closely with President Trump’s administration to promote the Comprehensive Strategic Partnership, maintain a stable and increasingly substantive development momentum, and effectively implement the contents of the Joint Declaration and Action Plan to implement the Comprehensive Strategic Partnership for the common interests of the two countries, cited VNA.

In the context that the two countries are organising activities to celebrate the 30th founding anniversary of diplomatic relations, PM Chinh requested the US Ambassador and Embassy to coordinate with relevant Vietnamese agencies to implement measures to deepen cooperative relations, including promoting visits and meetings at all levels, especially high-level ones.

Emphasizing the need to continue making economic - trade - investment cooperation a bright spot and driving force of the bilateral relations, the PM said that Vietnamese ministries and sectors are actively addressing the US side's current concerns in economic - trade - investment ties, including sending the Minister of Industry and Trade as a Special Envoy to work in the US to co-chair the Trade and Investment Framework Agreement (TIFA) Council’s meeting.

According to the government leader, Vietnam's relevant ministries, sectors and agencies are actively reviewing the tariffs on goods imported from the US, encouraging increased imports of products that the US has strengths and Vietnam has demand, especially agricultural products, liquefied petroleum gas and high-tech products.

He emphasized that the Vietnamese Government always pays due attention to creating conditions for US businesses and investors operating in Vietnam, affirming that Vietnam wants to build balanced, stable, harmonious and sustainable economic - trade - investment cooperation relations with the US for the common interests of the two countries.

The PM also proposed the US continue to take steps towards recognising Vietnam as having a market economy and creating conditions for Vietnam to import high-tech equipment from the US.

On this occasion, PM Chinh requested the Ambassador and the Embassy to continue to prompt the US Government and Congress to increase support projects to overcome the consequences of war in Vietnam, especially the dioxin detoxification project at Bien Hoa airport, assist people with disabilities and war victims, and support the search for fallen Vietnamese soldiers; transfer technology and improve the capacity to examine the DNA of Vietnamese martyrs.

Thanking the PM for his recognition and appreciation, Knapper pledged to continue to coordinate closely with Vietnamese ministries and sectors to promote and further deepen the Vietnam - US Comprehensive Strategic Partnership.

The Ambassador expressed his joy with the two sides actively implementing the Joint Declaration and Vietnam - US Action Plan for 2023, affirming that Vietnam - US relations have achieved many positive results, in accordance with the desires and interests of both sides.

He affirmed that the US prioritizes developing relations with Vietnam based on the principle of respecting Vietnam's political institutions, independence, sovereignty and territorial integrity, supporting a strong, independent, self-reliant and prosperous Vietnam. The US wants to expand cooperation in all fields, including cooperation in overcoming the consequences of war, defense - security, and education – training; support Vietnam in training high-quality human resources and human resources in the semiconductor industry, and cooperate with Vietnam in essential mineral exploitation and nuclear energy research and development, the diplomat said.

Knapper emphasized that 2025 is of important significance in the bilateral relationship, with the two sides celebrating the 30th anniversary of diplomatic relations. The US Embassy in Hanoi will join hands with Vietnamese agencies to build an effective agenda, thereby deepening the Comprehensive Strategic Partnership, he added.

Swedish businesses sound out investment opportunities in Vietnam

A delegation made up of Swedish small and medium-sized enterprises held a working session with representatives from the Ho Chi Minh City Department of Industry and Trade on March 11.

During the reception, they gained greater insights into overall business opportunities in Vietnam in general and Ho Chi Minh City in particular, as well as ways to start operations in the country by gathering information related to such fields as agriculture, energy, maritime, and automation.

Nguyen Thi Hoang Thuy, head of the Vietnam Trade Office in Sweden, said the trip by Swedish enterprises came less than a week after the visit made by a delegation of the Swedish Parliament’s Committee on Foreign Affair led by its Chairman Aaron Emilsson

These trips serve to demonstrate the Scandinavian country’s growing interest in the Vietnamese market, she added.

Earlier in February, Industry and Trade Minister Nguyen Hong Dien held a working session with the People's Committee of Binh Dinh province regarding Swedish Syre Group’s investment in a high-tech fabric production complex project in Nhon Hoi A Industrial Park, according to VOV.

Swedish businesses are keen to seek investment and business opportunities in Vietnam (Photo: Vietnam Trade Office in Sweden)

At the meeting, Tim King, senior operations director of Syre Group, unveiled the firm’s plan to inject money in the polyester fiber recycling complex project in Binh Dinh.

According to the Binh Dinh People's Committee, Syre Group’s investment plays an important role in turning Vietnam into a global circular textile and garment industry hub, contributing to the development of the green economy.

Recently, Swedish fashion giant Hennes & Mauritz (H&M) also intended to expand its supply chain and production in Vietnam to take the full advantage of its labor, infrastructure, and sustainable development potential.

Thuy emphasized that Vietnam is becoming an attractive destination for Nordic businesses thanks to its strategic location, abundant labor force, and competitive costs.

In recent years, an increasing number of companies from Sweden, Denmark, Finland, and Norway have chosen Vietnam as a destination to expand their production activities.

A key factor that has pushed up the shift, according to experts, is the 2020 enforcement of the EU-Vietnam Free Trade Agreement (EVFTA), which has significantly reduced tariffs and created favourable conditions for Nordic businesses to export from Vietnam to Europe.

Vietnam eyes new direct European air routes to boost tourism

The Civil Aviation Authority of Vietnam has asked airlines to assess the feasibility of launching direct flights between Vietnam and Poland, the Czech Republic and Switzerland.

The move aligns with a Government’s resolution which grants visa exemptions for citizens from these three European countries as part of the tourism promotion program 2025.

To capitalize on this policy, airlines have been urged to work closely with the Vietnam National Authority of Tourism, participate in tourism promotion campaigns and develop all-inclusive travel packages to attract more visitors from these European nations.

Authorities are also looking to strengthen Vietnam’s competitiveness in the global tourism market by streamlining entry procedures, offering preferential policies, enhancing travel experiences and improving air connectivity, VNS reported.

Passengers queue for check-in at Tan Son Nhat Airport. Photo: VNS

The initiative supports the Government’s goal of boosting economic growth, with a target of at least 8 per cent GDP growth this year.

The tourism sector aims to welcome 22-23 million international visitors and 120-130 million domestic travellers this year.

Collaboration between localities, travel businesses and related industries is expected to create more attractive products to offer to international visitors.

If conditions are not yet favorable for launching regular direct flights, the Civil Aviation Authority has suggested that airlines consider operating chartered or scheduled charter flights, as an initial step towards establishing permanent routes.

UOB projects Vietnamese GDP growth at 7.1% in Q1

Singapore-based United Overseas Bank (UOB) has projected Vietnam’s GDP growth at 7% this year and 7.1% in the first quarter of the year, while highlighting both positive momentum and risks ahead.

According to the bank’s latest report, Vietnamese real GDP in Q4 2024 surged by 7.55% year on year, extending the momentum from a revised figure of 7.43% in Q3 2024 and far ahead of market expectations.

With the surprisingly strong performances in three straight quarters, the local economy expanded by 7.09% in 2024 from 5.1% in the previous year, beating both the consensus call of 6.7% and the official target of 6.5%. This was the best showing following the post-COVID rebound in 2022 which saw growth of 8.1%.

The report outlines that manufacturing and services were the main drivers of activities in Q4 2024, while external trade maintained its strong pace throughout most of the year.

The upswing in semiconductor sales since mid-2023 also boosted exports performance. Export activities expanded for the 10th month in 2024, registering a full year gain of 14%, and reversing the 4.6% contraction seen in 2023.

Imports rose by 16.1% in 2024 to deliver the country’s second largest trade surplus of about US$23.9 billion following the record high of US$28.4 billion in 2023. This marks the ninth consecutive year that Vietnam has registered an annual trade surplus, which will be helpful in anchoring the local currency (VND) exchange rate.

UOB experts analyzed that Vietnam’s heavy dependence on international trade is reflected in the roller coaster ride of economic growth seen over the 2023 - 2024 period, where a bust in exports in 2023 caused a significant slowdown to the headline GDP, cited VOV.

Photo: VOV

Most notably, the boom in exports in 2024 resulted in its strongest economic performance since 2022. Specifically, the economy’s highly open nature saw export value reach about 90% of GDP in 2024, ranking as the second highest in ASEAN after Singapore’s 174% and ahead of the third-placed Malaysia’s 69%.

However, this high degree of openness means that the country is vulnerable to disruptions and frictions to international trade, especially with US President Trump’s focus on trade imbalances.

Vietnam’s National Assembly on February 19 raised the country’s 2025 growth target to “at least 8%” and looked to target “double digit” growth from 2026 to 2030, against the official forecast at 6.5% to 7%.

Economists pointed out that while a growth rate of 8% or higher is possible, exports and manufacturing will not be sufficient to drive such a performance.

They emphasized that additional capital expenditure, particularly from public investment, will be needed to stretch further, as well as to buffer against any potential downturns to trade.

The country’s capital investment ratio has stayed around 30% of GDP at least over the past decade. In contrast, China’s gross capital formation has stayed consistently above 40% in the same period. This suggests that Vietnam has been underinvesting relative to its large neighbour and there remains a case for higher public investment, particularly as the Government is aiming for a double-digit growth rate ahead.

Taking into account these factors, insiders remain cautiously positive for Vietnam’s outlook. They maintain their call for the nation’s full year growth forecast at 7.0% in 2025, assuming Q1’s GDP growth of 7.1%.

For 2026, they anticipated the expansion pace to step up to 7.4%, benefitting from the Government’s efficiency drive.

About 1,700 tourists from Japan to visit Ha Long by cruise ship

About 1,700 tourists, 85% of whom are Japanese, aboard a chartered cruise ship are scheduled to visit Ha Long city in the northern province of Quang Ninh on April 30.

This will mark the first-ever such journey organised by Peace Boat, a renowned Japanese cruise tour operator.

Representatives from the firm arrived in Ha Long on March 12 to oversee preparations for the arrival of the delegation.

Toda Yoshiaki, Director of Peace Boat’s Cruise Tourism Division, explained that Ha Long Bay, a UNESCO World Natural Heritage Site, was chosen as the sole stop on the cruise due to its unmatched beauty and global recognition. He added that Japanese tourists have long expressed a desire to visit the bay.

Yoshiaki also revealed that the company worked to schedule the ship’s arrival on an important date for Vietnam, which celebrates its reunification on April 30.

The ship will depart from Kobe, Japan, on April 20, stopping at several ports before arriving in Ha Long on the morning of April 30, allowing tourists to enjoy the special events taking place in Vietnam for this holiday.

During their one-day stay, tourists will be divided into groups for excursions to Ha Long Bay, the city itself, and possibly nearby Hai Phong or rural villages, cited VNA.

A view of Ha Long Bay, a UNESCO World Natural Heritage Site (Source: Getty)

A representative from the Quang Ninh Department of Culture, Sports, and Tourism stated that the province will provide full support to ensure a smooth and safe visit for the tourists.

At a reception for Peace Boat representatives, along with travel agencies and maritime agents in Vietnam, Nguyen Thi Hanh, Vice Chairwoman of the provincial People’s Committee, emphasized that this inaugural Japanese cruise ship visit on April 30 is the result of extensive negotiations and promotional efforts by provincial authorities and relevant organisations. She highlighted that this milestone presents a great opportunity to further develop cruise tourism between Japan and Quang Ninh, in line with the province's goal of attracting high-end international tourists.

Quang Ninh is committed to ensuring the best conditions for this event, developing more attractive tourism products, and maintaining a safe and secure environment, she said, expressing her hope that this milestone will help promote Quang Ninh as a top destination for international cruise lines, including those from Japan.

In 2025, Quang Ninh aims to welcome 20 million tourists, including 4.5 million foreigners, with total tourism revenue expected to reach 55 trillion VND (2.16 billion USD).

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; ...

Vietnam News Today (Mar. 11): Vietnam, Indonesia Elevate Ties to Comprehensive Strategic Partnership Vietnam News Today (Mar. 11): Vietnam, Indonesia elevate ties to Comprehensive Strategic Partnership; Vietnam, Japan strengthen cooperation for mutual growth; “Made in Vietnam” animated films ...