Vietnam News Today (Apr. 21): RoK President's Visit to Vietnam to Mark Strategic Leap in Bilateral Ties
	Vietnam News Today (Apr. 23): Vietnam–China Border Forces Hold Talks, Confer Friendship Envoy Title

Vietnamese Prime Minister Le Minh Hung (R) and visiting RoK President Lee Jae-myung pose for a photo ahead of their meeting in Hanoi on April 23.

Vietnam and RoK advance value chain, innovation-driven partnership

Vietnam and the Republic of Korea (RoK) are entering a new phase in their Comprehensive Strategic Partnership, shifting from traditional cooperation toward deeper integration in global value chains, innovation, and high-tech industries.

The assessment was shared by Prime Minister Le Minh Hung of Vietnam and RoK President Lee Jae-myung during their meeting in Hanoi on April 23.

The meeting took place as both countries seek to elevate cooperation in a more substantive direction, focusing on strengthening economic, technological, and supply chain linkages, with an emphasis on co-creating value.

The two leaders agreed that Vietnam and the RoK possess strong foundations to expand cooperation in long-term strategic sectors, particularly innovation, digital transformation, energy, and high-tech industries.

Vietnam is accelerating institutional reforms, enhancing growth quality, and developing its digital economy to deepen its role in global value chains. Meanwhile, the RoK, with its strengths in technology, research and development, and a robust innovation ecosystem, is seen as a key partner in this process. Major Korean conglomerates continue to expand their presence in Vietnam, not only in manufacturing but also in high-tech sectors and strategic infrastructure.

Prime Minister Hung proposed that both sides further consolidate political trust by expanding practical cooperation in defense, security, and diplomacy, while enhancing the effectiveness of existing bilateral cooperation mechanisms to build a solid political foundation for broader collaboration across all fields.

Regarding economic, trade, and investment cooperation, the Prime Minister stressed the need to deepen economic linkages with a focus on innovation and improving the quality of cooperation. He called on both sides to coordinate in implementing key tasks under the action plan aimed at raising bilateral trade to US$150 billion by 2030 in a more balanced manner. To meet the target, he said, more drastic measures should be taken, including continuing to open markets for each other’s goods.

Prime Minister Hung also urged the RoK to support increased localisation and greater participation of Vietnamese enterprises in Korean production and supply chains, adopt policies to facilitate Vietnamese businesses investing and operating in the RoK, and share experience in financial innovation, banking inspection and supervision, as well as in the development and operation of an international financial centre in Vietnam.

Prime Minister Hung further proposed enhancing cooperation in science and technology, innovation, and digital transformation; strengthening strategic alignment in ensuring sustainable energy security; and expanding collaboration in human resources, culture, and tourism, alongside promoting stronger people-to-people exchanges.

He called on the RoK to continue supporting the Vietnamese community living, studying, and working in the country, and to simplify visa procedures to further boost people-to-people exchanges, cited VOV.

For his part, President Lee welcomed his host’s proposals, and said both countries are well-positioned to shape a new strategic vision for cooperation, create opportunities for shared development, and move toward a sustainable and prosperous future.

He affirmed that the RoK stands ready to accompany Vietnam on its path to achieving its development goals, including becoming a developing country with modern industry by 2030 and a high-income developed country by 2045.

Both sides expressed satisfaction with the strong progress in bilateral relations over nearly 35 years since diplomatic ties were established, with the RoK now one of Vietnam’s leading trade and investment partners, supported by an extensive network of businesses operating in the country.

On this occasion, Prime Minister Le Minh Hung conveyed his greetings and extended an invitation to RoK Prime Minister Kim Min-seok to visit Vietnam in the near future.

President Lee Jae-myung is in Hanoi on a four-day state visit to Vietnam at the invitation of Party General Secretary and President To Lam.

Vietnam, China demonstrate high-level political trust: spokesperson

Vietnam and China have demonstrated a high level of political trust and shared a strong desire to elevate bilateral ties, spokesperson of the Ministry of Foreign Affairs Pham Thu Hang said on April 23.

Hang made the remarks in response to reporters’ questions on the major outcomes of Party General Secretary and State President To Lam’s state visit to China, at the ministry’s regular press briefing, reported VNA.

Spokesperson of the Ministry of Foreign Affairs Pham Thu Hang speaks at the ministry’s regular press briefing on April 23 (Photo: VNA)

According to the spokesperson, the April 14–17 visit was the top leader’s first overseas trip since the consolidation of Vietnam’s leadership positions. Both sides regarded it as the most important diplomatic engagement in Vietnam-China relations in 2026.

A key outcome of the visit was the signing of 32 cooperation documents between ministries, agencies, and localities of the two countries, creating a foundation to enhance cooperation across areas, she noted.

In terms of people-to-people exchanges, the leaders jointly announced the launch of the Vietnam – China Tourism Cooperation Year 2026–2027, aimed at boosting tourism cooperation and facilitating travel between the two peoples, the spokesperson said.

Vietnam–EFTA FTA seen as increasingly urgent to unlock investment potential

A free trade agreement between Vietnam and the European Free Trade Association (EFTA) is becoming increasingly urgent to unlock growing economic potential between the two sides, according to Nikolai Astrup, chair of the EFTA Parliamentary Committee.

The agreement would provide a stable and predictable legal framework, giving businesses the confidence to expand their presence and undertake long-term investments, Astrup told hanoimoi.vn newswire on April 23.

Astrup, who is leading an EFTA Parliamentary Committee delegation on a visit to Vietnam, highlighted that the two economies are highly complementary, with limited direct competition.

While EFTA countries bring strengths in advanced manufacturing, renewable energy, finance and maritime industries, Vietnam offers a dynamic market, strong growth momentum and an increasingly competitive business environment, according to VOV.

Nikolai Astrup (R), chair of the EFTA Parliamentary Committee, during a working session with the National Defense, Security and Foreign Affairs Committee of the National Assembly in Hanoi on April 20. (Photo: quochoi.vn)

This complementarity creates significant room for deeper cooperation, particularly as Vietnam accelerates its transition towards green growth and higher value-added industries, areas where EFTA businesses can play a key role, he said.

However, Astrup stressed that institutional stability and a transparent business environment remain critical factors in attracting investment. A comprehensive FTA would help ensure policy consistency and create a level playing field for EFTA companies, which currently do not enjoy the same advantages as some other European partners.

Against this backdrop, both sides are stepping up efforts to conclude the agreement after more than a decade of negotiations, paving the way for increased flows of high-quality investment from EFTA into Vietnam.

During their visit to Vietnam from April 20 to 24, the delegation of the EFTA Parliamentary Committee held working sessions with the National Assembly, the Ministry of Industry and Trade, and authorities of Ho Chi Minh City.

The delegation also conducted field visits to industrial parks and foreign direct investment (FDI) projects operated by EFTA enterprises in Hai Phong and Ho Chi Minh City to gain first-hand insights into Vietnam’s industrial development orientation, as well as the operational landscape for foreign investors in general and EFTA investors in particular.

Australia firms encouraged to boost investment links with Vietnam

Vietnamese Ambassador to Australia Pham Hung Tam met with Simon White, President of the Australia-Vietnam Business Council in Queensland (AVBCQ), at the Vietnamese Embassy in Canberra on April 23 to promote stronger business and investment ties.

At the meeting, White said AVBCQ is advancing three investment projects in Vietnam: a wool manufacturing plant, the entry of a gluten-free bakery producer, and partnerships in hospital operations. The wool project, valued at 80 million AUD (57 million USD), includes two plants in northern and southern Vietnam for dyeing, spinning and weaving, with an annual capacity of 20–25 million kg. About 95% of the output is expected to be exported to European markets.

AVBCQ is also considering the formation of a network linking Australian business councils with ASEAN countries to support regional business cooperation. White added that Queensland authorities, including the state’s trade minister, are keen to expand ties with Vietnam. The Gold Coast is also exploring a sister-city relationship with Ho Chi Minh City, cited VNA.

Vietnamese Ambassador to Australia Pham Hung Tam (right) meets with Simon White, President of the Australia–Vietnam Business Council Queensland (AVBCQ), at the Vietnamese Embassy in Canberra. (Photo: VNA)

Tam welcomed AVBCQ’s efforts and backed the idea of a regional business network to strengthen production and supply chains between Australian and ASEAN enterprises. As Chair of the ASEAN Committee in Canberra in the first half of 2026, he said he would engage ASEAN diplomats to help advance the initiative.

He also expressed interest in expanding cooperation in areas where Queensland has strengths, including quantum computing, ocean research, energy, education and tourism, and voiced confidence that AVBCQ will continue to serve as a key bridge for Vietnam–Queensland cooperation.

Vietnam named among world’s top 30 exporters in 2025

Vietnam ranked 18th place among the world’s 30 largest exporting economies in 2025, with export turnover reaching nearly US$473 billion, according to the latest data from the World Trade Organization (WTO) compiled by Statista.

Vietnam's export turnover valued US$470 billion for the first time last year, up more than 16 percent year on year, with a trade surplus of over US$20 billion, contributing significantly to maintaining macro-economic stability.

The export growth has been driven by key export products such as electronics, computers, phones and components, machinery and agricultural products including seafood, coffee and wood products.

Vietnam's trade has expanded rapidly over the past decade, rising from US$100 billion in 2009 to US$930 billion last year and is expected to approach US$1 trillion in the near future, VGP reported.

Photo: VGP

As of April 15, 2026, total trade value had reached nearly US$300 billion.

Vietnam set an ambitious export target of some US$546-550 billion for 2026, representing a year-on-year increase of 15-16 percent despite increasingly complex and unpredictable geopolitical tensions, particularly in the Middle East.

The preset goal is widely viewed as challenging and requiring decisive and flexible policy responses, said Bui Huy Son, Director General of the Planning, Finance and Enterprise Management Department.

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