Vietnam, RoK discuss tech-driven growth strategies

Politburo member and Director of the Ho Chi Minh National Academy of Politics (HCMA) Nguyen Xuan Thang welcomed Prof. Young-Sup Joo, Chairman of the Republic of Korea (RoK)’s National Research Council of Science and Technology (NST) to Hanoi on March 14 to explore how sci-tech can fuel Vietnam’s economic growth.

Thang, who is also Chairman of the Central Theoretical Council, highlighted Joo’s expertise in economic development, artificial intelligence (AI), and semiconductors, noting their relevance to Vietnam’s current tech-focused transformation. He pointed to a recent Politburo resolution that prioritizes breakthroughs in sci-tech and digital innovation to drive a new production model and modernise leadership practices, according to VNA.

Politburo member Nguyen Xuan Thang (R) and Prof. Young-Sup Joo (Photo: VNA)

Besides, the Party and State of Vietnam are pushing forward with Government restructuring to ensure a system that is streamlined, strong, efficient and effective. The synchronous enforcement of these strategic policies is expected to propel Vietnam into a new era of growth and development, he said.

The host expressed his hope that Joo would suggest development models aligned with Vietnam’s priorities of leveraging sci-tech and the private sector, toward a 8% growth goal in 2025 and over 10% in subsequent years.

Joo, who is also Chairman of the Korea Digital Innovation Association and former Minister of SMEs and Startups, urged Vietnam to pursue a “leader” approach in AI and technology rather than just catching up. He underlined the importance of building a competitive advantage to secure a top position globally.

Earlier that day, Joo attended the 2025 Artificial Intelligence and Semiconductor Conference (AISC) in Hanoi, where he praised Prime Minister Pham Minh Chinh’s strategy of harnessing sci-tech, innovation, digital transformation, and green, digital, circular, creative, sharing, and knowledge-based economies as key growth drivers.

With the right strategy, Vietnam can rise to the forefront, he said, committing to partner with HCMA on sharing expertise in AI, semiconductor, and sustainable development policies.

Vietnam, US relations thrive with new economic and trade agreements

During his working visit to the US, where he had working sessions with the Office of the United States Trade Representative (USTR), the Department of Energy (DOE), and relevant agencies, Special Envoy of the Prime Minister, Minister of Industry and Trade Nguyen Hong Dien witnessed the signing and announcement of cooperation agreements, procurement contracts for machinery, equipment, raw materials, and services between Vietnamese and US enterprises.

Those in attendance at the event included Vietnamese Ambassador to the United States Nguyen Quoc Dung, a delegation from the Ministry of Industry and Trade, and representatives from Vietnam’s major energy and industrial corporations, including the Vietnam Oil and Gas Group (PVN) and its subsidiaries, Vietnam Electricity (EVN), Vietnam National Petroleum Group (Petrolimex), Vietnam National Coal and Mineral Industries Group (TKV), and Masan Group, along with US partners.

Speaking at the signing ceremony, Minister Nguyen Hong Dien emphasized that after three decades of diplomatic relations, a decade of comprehensive partnership, and two years of comprehensive strategic partnership, bilateral ties have seen positive development across multiple fields. Among these, economic, trade, and investment cooperation serves as a key driver for overall bilateral relations.

Regarding trade, bilateral trade turnover in 2024 reached nearly US$150 billion, marking a 20.5% increase compared to the previous year. The US has become Vietnam’s second-largest trading partner and one of its most important export markets, while also emerging as a key supplier of machinery, equipment, technology, and energy to Vietnam, reported VOV.

PetroVietnam Gas Joint Stock Corporation (PetroVietnam PV Gas) and ConocoPhillips sign MoU on long-term liquefied natural gas (LNG) supply.

In terms of investment, the US remains one of Vietnam’s leading investors, with most major US corporations already present and conducting effective business operations in Vietnam. At the same time, an increasing number of Vietnamese enterprises are investing in the US market. As of early 2025, more than 100 Vietnamese enterprises have registered to participate in the Select USA 2025 event to explore investment and business opportunities in the US.

Sharing insights from his meetings with US agencies, Minister Nguyen Hong Dien highlighted the huge potential for Vietnam-US cooperation, particularly in fields such as science and technology, innovation, research and development, semiconductor and chip industry development, artificial intelligence (AI), the Internet of Things (IoT), new energy and renewable energy, finance, financial centers, biotechnology, and healthcare.

Vietnam hopes that the US will continue facilitating business partnerships and promoting effective investment projects, especially in high-tech and innovation-driven fields.

With the goal of further strengthening bilateral economic and trade ties, under the witness of Minister Nguyen Hong Dien, several important cooperation agreements worth a total of US$4.15 billion were signed.

The signing of these agreements and memoranda of understanding represents a concrete step toward deeper, more effective economic cooperation, thus contributing to a balanced and sustainable trade relationship between the two nations, Dien said.

Lao Cai aims to become trade hub bridging Vietnam, ASEAN with southwest China

A business networking event was held in Lao Cai province on March 14 to advance the Prime Minister’s vision of transforming the northern border locality into a trade and economic hub connecting Vietnam and ASEAN with southwest China.

Speaking at the event, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son commended Lao Cai and the Vietnam Chamber of Commerce and Industry (VCCI) for their role in holding the event.

He underlined Lao Cai’s strategic location along the Kunming-Lao Cai-Hanoi-Hai Phong-Quang Ninh economic corridor, describing it as a strategic anchor facilitating trade, investment and economic flows between Vietnam, ASEAN, and southwest China.

To turn opportunities into concrete growth drivers, the official urged Lao Cai to fully harness strong relations between ASEAN and China, as well as Vietnam’s partnerships with other ASEAN member states and global stakeholders, pushing for stronger cross-border collaboration in economy, trade, investment, and tourism. He also highlighted the need for new growth engines like sci-tech, innovation, circular economy, sharing economy, knowledge economy, green transition, and digital transformation to ensure Lao Cai’s sustainable, inclusive, and rapid development.

Infrastructure connectivity was also a priority, especially key projects such as the Lao Cai – Hanoi – Hai Phong standard-gauge railway, a road bridge over the Red River linking Vietnam’s Bat Xat and Basa of China’s Yunnan, and a rail link between Lao Cai station and China’s Hekou North station.

EU Ambassador to Vietnam Julien Guerrier expressed hope for chances for the EU to further support Lao Cai, particularly in quality human resource training, social welfare and initiatives enabling local communities to access and benefit from EU environmental and climate protection regulations, cited VNA.

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son speaks at the event (Photo: VNA)

Meanwhile, Chinese Minister-Counselor in Vietnam Wu Guoquan described China as Vietnam’s largest trade partner for years. Conversely, Vietnam stands as China’s top trade partner in ASEAN and the fourth-largest globally. Last year, two-way trade exceeded 260 billion USD, up 13.5% annually. China ranked first among 114 foreign investors in Vietnam, with 955 projects topping 31 billion USD.

China is also the largest foreign investor in many Vietnamese localities, including Lao Cai. Wu underlined Lao Cai’s strategic border location, serving as a crucial point within the Southern Corridor of the Belt and Road Initiative (BRI) and the economic corridor linking Yunnan with Vietnam's Quang Ninh, Hai Phong, Hanoi and Lao Cai.

The Hekou – Lao Cai border gate plays an irreplaceable role in securing supply and production chains for both countries. It has also been instrumental in fostering deeper bilateral economic and trade ties.

Looking ahead, the completion of the Kunming – Hekou – Lao Cai – Hanoi railway is expected to further enhance cross-border infrastructure connectivity between China and Vietnam. This project will facilitate the development of seamless supply and production chains, solidifying Lao Cai’s position as a key gateway linking southwest China with Vietnam and ASEAN markets, he added.

Chairman of the Lao Cai provincial People's Committee Trinh Xuan Truong also pledged all possible support for investors to fulfill the PM’s vision.

Vietnam tops ASEAN in number of Heritage Parks

Vietnam is currently leading Southeast Asia in the number of ASEAN Heritage Parks, with 12 areas.

They are Hoang Lien National Park (Lao Cai and Lai Chau), Ba Be National Park (Bac Kan), Vu Quang National Park (Ha Tinh), Bai Tu Long National Park (Quang Ninh), Ngoc Linh Nature Reserve (Kon Tum), Chu Mom Ray National Park (Kon Tum), Kon Ka Kinh National Park (Gia Lai), U Minh Thuong National Park (Kien Giang), Bidoup-Nui Ba National Park (Lam Dong), Lo Go-Xa Mat National Park (Tay Ninh), Con Dao National Park (Ba Ria-Vung Tau), and Bach Ma National Park (Hue).

Ba Be National Park in the northern province of Bac Kan.

Vietnam targets to increase the number of ASEAN Heritage Parks to 15 by the end of this year.

ASEAN Heritage Parks are defined as "protected areas of high conservation importance, preserving in total a complete spectrum of representative ecosystems of the ASEAN region."

These areas are established to generate greater awareness, pride, appreciation, enjoyment and conservation of ASEAN's rich natural heritage, through a regional network of representative protected areas, and to generate greater collaboration among ASEAN Member States in preserving their shared natural heritage, cited VGP.

The ASEAN Heritage Parks play a crucial role in preserving genetic resources, ensuring the sustainable use of ecosystems, maintaining natural areas of cultural and educational value, and raising awareness about biodiversity conservation among the people of ASEAN countries.

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