Speakers at the thematic session on economic cooperation at the St. Petersburg Chamber of Commerce and Industry on October 16. (Photo: VNA)

Viet Nam-Russia trade at structural turning point: report

A thematic session on economic cooperation and the launch of a comprehensive report on Viet Nam-Russia economic and trade ties took place at the St. Petersburg Chamber of Commerce and Industry on October 16, within the framework of the second Russia-Viet Nam people-to-people diplomacy forum.

The report was jointly compiled by the Viet Nam-Russia Knowledge Network, ANO Coordination Laboratory and the St. Petersburg Committee for External Relations, examining the current state and prospects of bilateral economic and trade cooperation.

The report adopts a practical approach, focusing on how businesses operate rather than relying solely on diplomatic assessments. Its aim is to identify ways to translate the two countries’ political goodwill and longstanding trust into tangible economic cooperation. Beyond traditional sectors, Viet Nam and Russia are seeking to expand collaboration in technology, clean energy and logistics to adapt to the changing global economic landscape.

According to the report, the free trade agreement between Viet Nam and the Eurasian Economic Union (EAEU) has provided an important impetus for bilateral trade growth. Despite volatility in international markets, goods flows between the two countries have remained relatively stable, with encouraging results in agricultural products, food and processed industries.

To achieve more ambitious trade targets, the report recommends that relevant authorities continue reviewing and removing technical barriers and harmonising technical standards to facilitate businesses’ access to each other’s markets.

It identifies major national-scale infrastructure projects as a key driver of future economic cooperation. The two countries are advancing key energy initiatives, including clean energy development, civilian atomic technology and liquefied natural gas (LNG) supply infrastructure. These projects are expected not only to strengthen energy security but also to support Vietnam’s digital economy development, cited VNA.

Meanwhile, direct maritime routes linking major Vietnamese seaports with Russia’s Far East are delivering positive results. Increased investment in warehousing and integrated logistics services is helping shorten transport times, reduce costs and improve predictability in import-export operations.

Against the backdrop of rapid digital transformation in Southeast Asia, the report urges businesses to proactively renew their market access strategies. Product localisation, centralised project management supported by locally based personnel, and deeper integration into domestic e-commerce ecosystems are identified as key factors in strengthening competitiveness and ensuring sustainable growth.

Speaking to Viet Nam News Agency correspondents in Moscow, Anna Sitnyk, managing director and co-founder of ANO Coordination Laboratory, said the report highlights the gap between bilateral trade ambitions and current performance.

The two countries aim to raise bilateral trade to 15 billion USD by 2030, while current turnover stands at around 5 billion USD. Achieving the target will require annual trade growth of approximately 25%, a considerable challenge, she noted.

The report therefore examines major obstacles in detail, including difficult issues that may require frank discussion, she added.

Viet Nam-EU ties set for new heights with concrete, practical outcomes: Ambassador

The upcoming official visit to the European Union (EU) by General Secretary of the Communist Party of Viet Nam (CPV) Central Committee and President To Lam is expected to provide a chance for the two sides to bring bilateral ties to a new height, EU Ambassador to Viet Nam Julien Guerrier told the Viet Nam News Agency ahead of the visit.

Guerrier noted that over 35 years of diplomatic ties, the two sides have built a strong, comprehensive and increasingly extensive relationship covering almost every area of public policy. The establishment of a Comprehensive Strategic Partnership in January 2026 provided a foundation for further cooperation and closer ties, he said.

It underscores the importance of bilateral relations and the significance of the EU to Viet Nam and Viet Nam to the EU, as reflected in the Vietnamese leader being received at the highest level by the two leaders of the bloc, the ambassador noted.

He said the visit will provide an opportunity to take stock of bilateral cooperation, review the implementation of the Comprehensive Strategic Partnership framework, elevate ties to a new level and translate shared goals into concrete, practical outcomes. Discussions will cover trade, investment, energy, education, science and technology, and security.

As part of the visit, a business roundtable will be organised with the participation of General Secretary and President Lam and senior executives of major European corporations. The top Vietnamese leader will also meet European Commission President Ursula von der Leyen and European Council President António Costa, who will host an official banquet at the European Council headquarters. A number of bilateral meetings involving leaders, businesses and their respective partners will also take place in Brussels, Guerrier said.

Regarding specific cooperation commitments expected during the visit, the ambassador said that Viet Nam is undergoing a transformation with ambitious goals, clearly reflected in the pace of infrastructure development, affirming that the EU stands ready to provide strong support to help Viet Nam achieve these goals.

The two sides are expected to announce a letter of intent on education and training cooperation, along with programs to support Viet Nam in developing a circular economy, particular in industry and agriculture, some concrete development projects in Hanoi and other localities, and a number of business deals, which will build the way towards future cooperation between private businesses.

On multilateral cooperation, Guerrier stressed the importance of coordinating positions within the United Nations framework. The two sides have regularly exchanged views to align their positions at the UN and uphold international norms and law, he said.

The EU is also stepping up cooperation with Viet Nam within the framework of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), with a view to advancing global trade standards. Maroš Šefčovič, the EU Commissioner responsible for trade, investment and economic security, has been invited by Viet Nam, this year’s CPTPP chair, to attend the CPTPP ministerial meeting in Viet Nam in November. The meeting is expected to provide an opportunity to advance cooperation in this area, Guerrier noted.

Regarding security and defence, the ambassador highlighted the particular importance of the Indo-Pacific to the EU. Although the East Sea is far from Europe, it is a shipping route through which 40% of the EU’s imports and 25% of its exports are transported. The EU and Viet Nam therefore shares an interest in ensuring freedom of navigation and maintaining peace and security in the region.

Viet Nam is also the EU’s only partner in ASEAN with a Framework Participation Agreement (FPA) governing its participation in EU crisis management operations. Under the agreement, Viet Nam deployed officers to EU missions in Africa. Meanwhile, an EU military officer is helping train peacekeeping personnel in Viet Nam for deployment to EU and UN missions, including operations in Sudan and South Sudan, according to VNA.

EU Ambassador to Viet Nam Julien Guerrier grants an interview to the Viet Nam News Agency ahead of the official visit to the European Union (EU) by General Secretary of the Communist Party of Viet Nam (CPV) Central Committee and President To Lam (Photo: VNA)

The EU is seeking to strengthen cooperation in maritime security, undersea cable protection and counter-terrorism, while supporting the upgrading of EU-ASEAN relations to a comprehensive strategic partnership next year, marking the 50th anniversary of ties between the two sides. The bloc also hopes to contribute to the development of a Code of Conduct in the East Sea (COC), helping promote a safer and more stable region, Guerrier said.

He described Viet Nam as being at the forefront of the EU’s cooperation policy in the Indo-Pacific and a positive example for other countries to follow.

On efforts to have the EU’s “yellow card” warning over illegal, unreported and unregulated (IUU) fishing lifted, the ambassador said the EU will analyse a report prepared by Vietnam’s Ministry of Agriculture and Environment on the situation and implementation results in the hope of seeing positive progress soon and paving the way for the removal of the “yellow card”. He affirmed that both sides are moving in the right direction, and the issue will be discussed at a high level during the visit.

Regarding domestic reforms, Guerrier said the EU is impressed by Viet Nam's ambitious goals in streamlining its administrative apparatus, rationalising governance and accelerating legislation, including the Law on Artificial Intelligence and the Law on Food Safety. The EU stands ready to provide expertise and technical assistance to help Viet Nam build a legal system meeting international standards and establish a transparent, predictable and sustainable investment environment, he added.

Commenting on Vietnam’s growing role in regional and international organisations, the ambassador said the EU is pleased to see the country taking on an increasingly important position in the international community.

Within ASEAN, Viet Nam has become increasingly proactive and engaged. Over the past three years, it has hosted the ASEAN Future Forum to discuss the development of the regional organisation. This year, it holds the CPTPP chairmanship, while last year it hosted the signing ceremony for the Hanoi Convention against Cybercrime, he noted.

The EU values and supports Vietnam’s role and will continue to stand alongside the country and provide assistance. Viet Nam plays an important part in conveying shared messages on peace, security, international order, the rule of law and respect for multilateralism at regional and international forums, Guerrier said.

The EU also hopes to contribute, in an appropriate capacity, to the success of the APEC Economic Leaders’ Meeting. The bloc expects the forum to provide a platform for discussions on peace and security in the Indo-Pacific and around the world, international trade and other issues of shared interest, on which many APEC members shared the EU’s views.

Guerrier said Vietnam’s increasingly prominent role reflected its rising standing on the international stage. The country has become a middle power, with development extending beyond the economic and strategic spheres to the political arena. Its dynamic diplomacy and proactive efforts to build good relations with partners around the world had placed it in a favourable position, he said.

Viet Nam has the ability to bring partners together, coordinate their efforts and host international conferences in an environment of trust from the international community. In the future, it can even play a mediating role in certain conflicts that the EU strongly supports, the ambassador added.

Viet Nam-Denmark ties poised for new momentum after 55 years

General Secretary of the Communist Party of Viet Nam Central Committee and State President To Lam’s upcoming state visit to Denmark is expected to mark a historic milestone in bilateral relations, reaffirm strategic trust and open up new opportunities for cooperation in green transition, trade, investment, science and technology, according to Vietnamese Ambassador to Denmark Nguyen Le Thanh.

The Ambassador made the statement in an interview granted to VOV ahead of the top leader To Lam’s state visit to the Kingdom of Denmark from October 19 to 21 at the invitation of King Frederik X of Denmark and the Queen,

The visit comes as Viet Nam and Denmark mark the 55th anniversary of diplomatic relations in 2026, against a backdrop of increasingly close, substantive and wide-ranging cooperation. It will be the first state visit to Denmark by a Vietnamese Party General Secretary and the only state visit Denmark will host this year, Ambassador Thanh said.

State visit to elevate bilateral ties

The ambassador described the visit as a milestone reflecting the strategic vision, political commitment and mutual trust of the two countries’ leaders. It is expected to provide fresh impetus for taking bilateral relations to a new level, while giving the two sides an opportunity to discuss strategic directions for expanding cooperation in trade, investment, energy, high-quality human resource development, science and technology, innovation, digital transformation and green growth.

As countries with important geostrategic positions, Viet Nam and Denmark share a vision of a peaceful, stable and cooperative world based on respect for the UN Charter and international law, the ambassador noted. Both countries attach importance to multilateralism, international cooperation and joint efforts to address common challenges.

The visit will therefore also provide an opportunity for the two sides to exchange views on regional and international issues of mutual concern, strengthen coordination in multilateral forums and contribute to peace, stability and sustainable development in their respective regions and beyond.

Over the past 55 years, relations have evolved from traditional development cooperation into an increasingly comprehensive, equal and mutually beneficial partnership. Political and diplomatic ties remain a firm foundation, with exchanges and contacts at senior and other levels helping build understanding, strengthen trust and promote coordination in both bilateral and multilateral settings.

A major milestone came in November 2023, when the two countries established the Green Strategic Partnership, following the elevation of their relationship to a Comprehensive Partnership in 2013. The new framework has made green transition a prominent focus of bilateral cooperation, with both sides working to implement its action programme.

Viet Nam has also assumed a growing role in Denmark’s efforts to strengthen ties with the Indo-Pacific. In its 2023 Foreign and Security Policy Strategy, Denmark identified Viet Nam as one of its priority partners for expanding and upgrading relations in the region. This reflects Copenhagen’s view of Viet Nam not only as a promising growth market but also as an important partner in economic cooperation, green transition and sustainable development.

Trade, investment and green cooperation gather pace

Economic, trade and investment cooperation has become an important driver of bilateral relations. Despite volatility in global trade, two-way trade continued to grow, increasing by nearly 38% in the first eight months of 2026 compared with the same period last year. Vietnamese exports to Denmark rose by around 28%.

As of the end of July 2026, Denmark had 179 valid investment projects in Viet Nam, with total registered capital of nearly US$2.5 billion, ranking 21st among 153 countries and territories investing in the country.

The quality and direction of Danish investment are also significant. Major Danish companies, including LEGO, Maersk, Pandora, Vestas and Novo Nordisk, have established or expanded their operations in Viet Nam across manufacturing, logistics and seaports, energy, pharmaceuticals, green technology and other high-value-added industries.

Cooperation is also extending into emerging fields such as health care, life sciences, innovation, digitalisation and technology. These developments reflect the complementary strengths of the two economies and the growing opportunities for businesses on both sides.

Green transition stands out as a distinctive area of cooperation. Viet Nam offers a dynamic economy, a market of more than 100 million people and considerable potential in renewable energy, science and technology, innovation and international supply chains. Denmark, meanwhile, brings expertise in clean energy technologies, environmental solutions, sustainable food production and the circular economy.

These complementary strengths create opportunities for investment, closer business links and the development of sustainable value chains that benefit both countries.

Connectivity is also improving. The launch of Viet Nam Airlines’ first direct service between Ho Chi Minh City and Copenhagen in December 2025 has shortened the distance between the two countries and opened up further opportunities for trade, investment, tourism, business links and people-to-people exchanges.

With the foundations built over 55 years and growing alignment between Vietnam’s development needs and Denmark’s strengths, the two countries have considerable room to expand cooperation in the years ahead.

Science, clean energy and healthcare offer new opportunities

Looking ahead, the ambassador saw strong prospects for cooperation in science and technology, innovation, energy transition and sustainable development. Denmark has advanced capabilities in renewable energy, life sciences, green technology, maritime industries and automation. Viet Nam, for its part, offers a dynamic economy, a large market and workforce, growing manufacturing and innovation capabilities, and an important position in regional production and supply chains.

Viet Nam is shifting towards a growth model driven by science, technology, innovation and digital transformation in line with the Politburo’s Resolution No. 57, while prioritising the development and gradual mastery of strategic technologies. Combining the strengths and development priorities of the two countries could support joint research, technology development and application, new products and solutions, wider market access and deeper participation in global value chains.

Green energy is one area where cooperation already has a solid foundation. The two countries have worked together on energy transition since 2013. Under the Viet Nam-Denmark Energy Partnership Programme for 2026–2030, cooperation continues to focus on long-term energy planning, renewable energy integration, energy efficiency and the sharing of experience in policies and mechanisms for offshore wind power.

Building on this work, the two sides have opportunities to move beyond policy and planning towards investment in renewable energy projects, related technologies and supply chains. Greater participation by businesses from both countries in research, manufacturing, equipment supply and services could also help develop green industries and energy markets.

Science, technology and innovation could become another driver of bilateral growth. Viet Nam is prioritising strategic technologies, including digital technologies, artificial intelligence, robotics and automation, biotechnology and advanced biomedicine, areas in which Denmark also has considerable capabilities, reported VOV.

Vietnamese Ambassador to Denmark Nguyen Le Thanh.

The ambassador highlighted stronger links among businesses, universities and research institutes as an important next step. Joint research, technology development, high-quality workforce training, testing, application and commercialisation of research outcomes would enable both countries to strengthen innovation capacity and develop competitive products and solutions for domestic and international markets.

Healthcare, life sciences and biotechnology also offer practical opportunities. Denmark has a well-developed pharmaceutical industry and a strong life sciences ecosystem connecting universities, hospitals, research institutes and businesses. Viet Nam has a large healthcare market, an extensive network of hospitals, universities and research facilities, and a growing community of medical experts and scientists.

By combining their research capabilities, human resources and practical experience, the two countries could pursue joint projects in smart hospitals, digital healthcare, biotechnology, precision medicine and advanced healthcare solutions, helping improve care quality while creating opportunities to develop and apply new medical technologies.

To advance this agenda, the Vietnamese Embassy in Denmark will work alongside Aalborg University Hospital to organise a conference on smart hospitals, digital healthcare and biomedical innovation in Denmark on October 28–29. The event aims to strengthen links among hospitals, universities, research institutions and businesses from both countries and promote cooperation in research, development and the application of advanced medical technologies.

Maritime transport, logistics and green supply chains are also promising areas. Denmark’s strengths in shipping, logistics and sustainable technologies complement Vietnam’s geoeconomic position, seaport system, manufacturing capacity and growing role in regional supply chains. Closer business links and cooperation in infrastructure, logistics services and sustainable value chains could help improve competitiveness and resilience amid global economic changes.

With a foundation of political trust, complementary economic strengths and commitment from both sides, Viet Nam and Denmark are well placed to deepen cooperation and create new sources of growth. The upcoming state visit is expected to give further momentum to a relationship that is becoming increasingly substantive, far-reaching and sustainable, the ambassador concluded.

European businesses remain upbeat about Viet Nam’s economic outlook

European investors' business confidence in Viet Nam stood at 78.3 points in the third quarter of 2026, according to the EuroCham Business Confidence Index (BCI) report released on Thursday.

The above figure fell slightly by 1.4 points from the previous quarter but remaining at a historically high level, reflecting sustained investor confidence despite global economic uncertainties.

Viet Nam's GDP expanded by 9.95 percent year-on-year in the third quarter and 9.01 percent in the first nine months of 2026. However, EuroCham Chairman Bruno Jaspaert noted that headline growth figures alone do not fully reflect conditions on the ground, where local supply chains, manufacturing facilities and distributors continue to face rising costs and regulatory pressures.

He stressed the need to translate national economic growth into more predictable and efficient business conditions.

The Chairman also stressed that the key task now is to make growth more tangible across the economy by improving predictability, strengthening resilience and consolidating reforms, enabling businesses to devote more of their energy to creating value.

The survey also revealed contrasting trends across sectors and business sizes. Confidence in the agriculture and food value chain rose 11.7 points to 83.9, while the tourism and hospitality sector's index fell 22.5 points to 67.9, amid changing consumer spending patterns, higher operating costs and extreme weather, cited VGP.

Photo: VGP

Business sentiment also varied by company size. While 97 percent of enterprises employing more than 500 people said they would recommend Viet Nam as an investment destination, between 14 and 17 percent of small businesses with 1–50 employees expressed caution.

Despite persistent operational challenges, 90 percent of respondents said they would recommend Viet Nam to investors. The country's key advantages included human capital, cited by 52 percent of respondents, cost competitiveness at 51 percent, and political and macroeconomic stability at 44 percent.

Viet Nam's appeal to foreign investors lies in its competitive costs, skilled workforce, political and macroeconomic stability, domestic market, extensive free trade agreements and strategic location. Registered FDI reached US$50.36 billion in the first nine months of 2026, while disbursed capital hit a five-year high of US$21.07 billion. Both large enterprises and SMEs contribute to economic growth through investment, innovation, technology and job creation.

Resolution No. 10/NQ-TW on the development of the foreign-invested economic sector, dated June 8, 2026, aims to improve investment quality by promoting technology transfer, innovation and domestic supply chains, shifting the focus from capital attraction to broader economic value and capabilities.

Vietnamese community remains Japan’s second largest foreign group

The Vietnamese community was Japan’s second largest foreign resident group, with around 693,800 people as of June 2026, as the country’s foreign resident population reached a record high of more than 4.28 million.

Data released by Japan’s Immigration Services Agency on October 16 showed that the country had 4,281,026 foreign residents legally residing in Japan at the end of June, up around 3.8% from the end of 2025. The figures exclude short-term visitors, such as tourists.

By nationality and region, Chinese nationals formed the largest group, at 941,031, followed by Vietnamese nationals at 693,800, Koreans at 408,700 and Filipinos at 362,800. Nepalese, Indonesians and Myanmar nationals also accounted for sizeable foreign resident communities.

Among the 10 largest nationality groups, Indonesians recorded the biggest numerical increase, rising by 41,387 to 307,456. The number of Nepalese residents climbed by 33,858 to 334,850, while Myanmar nationals increased by 29,035 to 211,602.

By residence status, permanent residents made up the largest category, numbering 961,342, up 1.5% from the end of 2025. They were followed by foreign nationals holding the “Engineer/Specialist in Humanities/International Services” status, at 516,184, an increase of 8.5%, and international students, at 479,626, up 3.2%.

The number of those holding the Specified Skilled Worker visa, introduced in 2019 to address labour shortages in sectors such as nursing care, agriculture and food services, recorded an even larger increase of 53,960, bringing the total to 444,256.

International students in Japan rose by 14,842 to 479,626, while technical intern trainees increased marginally by 891 to 457,509, cited VOV.

Overseas Vietnamese join Binzuru festival in Japan in August, 2026.

Meanwhile, the number of foreign nationals arriving in Japan during the first six months of 2026 rose slightly from a year earlier, according to a third set of figures released by the agency that included temporary visitors.

Foreign arrivals, including new entrants and reentrants, rose 0.3% year on year to 21.45 million in the first half. New foreign arrivals fell marginally by 0.1% to 19.71 million, with temporary visitors accounting for 98.2% of the total.

The Republic of Korea was the largest source of new arrivals, with 5.55 million, up 19% from the previous year.

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