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The seminar on December 23 in Moscow (Photo: VNA)

Vietnam, Russia explore cooperation opportunities in digital era

A seminar aimed at exploring cooperation opportunities between Vietnam and Russia in the digital era was held on December 23 at the Hanoi – Moscow multifunctional commercial center in Moscow.

The event was organised with the support of the Vietnamese Embassy in Russia and the Vietnam Trade Office in Russia. It was jointly convened by the Vietnam Advertising Association (VAA), through the International Cultural and Commercial Center (ICC), a VAA member, in coordination with the Vietnam – Russia Friendship Association and the Association of Vietnamese Businesses in Russia.

Speaking at the event, VAA President Nguyen Truong Son said the seminar aimed to help Vietnamese enterprises better understand market information, consumer preferences and market access experience in Russia in the context of the digital era, through Vietnamese representative agencies and businesses already active in the country. Based on these insights, the VAA will define concrete directions and promote business linkages to boost economic cooperation and trade with Russia through product promotion and trade facilitation activities.

He noted that the VAA has successfully implemented a number of programmes to promote Vietnam’s key products on e-commerce platforms in markets such as China and India. He expressed his hope that Vietnam’s strong export items would increasingly penetrate the Russian market in the coming time via e-commerce platforms currently being developed by the association.

At the seminar, Trade Counsellor and Head of the Vietnam Trade Office in Russia Duong Hoang Minh reviewed the sound economic and trade cooperation between Vietnam and Russia in recent years. He said that Party General Secretary To Lam’s visit to Russia in May created fresh momentum for bilateral relations, including cooperation in areas such as nuclear energy, digital transformation and renewable energy, cited VNA.

Regarding Russia’s market demand, Minh said food products including processed agricultural goods, seafood, coffee, rice, cashew nuts, essential consumer goods and traceable green products remain highly sought after by Russian consumers. However, amid rapid digital transformation, these products are facing increasingly intense competition, requiring Vietnamese businesses to be more proactive in market exploration, marketing strategies and product innovation.

Representatives of Vietnamese enterprises visiting Russia shared their perspectives, describing the country not merely as a consumption market but as a long-term strategic partner for Vietnam’s consumer goods development and exports. Cultural cooperation, they said, serves as a vital bridge to foster trust and mutual understanding, paving the way for deeper economic ties.

Meanwhile, representatives of Vietnamese businesses operating in Russia affirmed their readiness to support new entrants by helping develop high-quality products, stabilise supply sources, meet market standards and build sustainable distribution systems, ranging from traditional retail channels to supermarket chains and e-commerce platforms.

Vietnam, Uzbekistan boost cooperation in trade, automobile industry and logistics

Through the Intergovernmental Committee mechanism, Vietnam and Uzbekistan will continue to further deepen bilateral cooperation in all fields, particularly in economic-trade and scientific-technological collaboration, Deputy Minister of Industry and Trade Phan Thi Thang has said.

Thang made the statement at the eighth meeting of the Vietnam–Uzbekistan Intergovernmental Committee for Economic-Trade and Scientific-Technological cooperation, held in Hanoi on December 24.

At the meeting, Uzbek Deputy Minister of Investment, Industry and Trade Ilzat Kasimov stressed that Uzbekistan always considers Vietnam an important priority partner in the region. He underlined the need to strengthen coordination among ministries and sectors of both countries through the Intergovernmental Committee, thereby helping businesses better tap the potential and advantages of each side.

Uzbekistan committed to creating favourable conditions for Vietnamese enterprises to invest and operate in the country, and proposed establishing a joint working group on trade within the framework of the Intergovernmental Committee to further promote bilateral trade growth, according to VNA.

Deputy Minister Phan Thi Thang and Deputy Minister Ilzat Kasimov sign the minutes of the eighth meeting of the Vietnam–Uzbekistan Intergovernmental Committee. (Photo: moit.gov.vn)

The two sides reviewed the current state of cooperation and assessed advantages, difficulties, opportunities and challenges in key areas. Delegates noted that Vietnam and Uzbekistan still hold considerable potential for cooperation in agriculture, agro-processing, light industry, automobile manufacturing, transport, logistics, construction, tourism and culture. They also highlighted the complementary nature of the two economies, which facilitates cooperation in building supply chains from production and processing to exports, serving international markets.

Based on these discussions, agencies and enterprises of both sides pledged to continue close coordination to translate commitments into concrete and practical cooperation projects.

According to the Vietnamese Department of Customs, bilateral trade reached 202 million USD in 2024, the highest level so far, up 26.5% year-on-year. Vietnam’s exports stood at 128.61 million USD, up 75%, while imports totalled 73.38 million USD, down 14.9%.

Uzbekistan is currently Vietnam’s second-largest trading partner in Central Asia, while Vietnam is Uzbekistan’s largest trading partner in the Association of Southeast Asian Nations (ASEAN). Vietnam’s main exports to Uzbekistan include phones and components, computers, electronic products and components, machinery and equipment, rubber products, cashew nuts, and automobile components.

Meanwhile, Vietnam mainly imports fertilisers, textile and garment materials, leather and footwear materials, and cotton from Uzbekistan. In terms of investment, Vietnam currently has five projects in Uzbekistan, with total registered capital of about 4.43 million USD.

Vietnam’s 2025 growth outperforms expectations despite challenges

Vietnam’s economic performance in 2025 demonstrates resilience and an ability to move decisively beyond major challenges, Professor Vu Minh Khuong of the Lee Kuan Yew School of Public Policy has told the media in Singapore.

Vietnam is among the countries that recorded growth exceeding expectations despite being subjected to high tariff pressures, demonstrating notable flexibility in responding to shifting global conditions, the professor said. Achieving GDP growth of 8% represents an extraordinary effort and has made a strong impression on international investors and economic partners doing business with Vietnam.

Commenting on the target of double-digit GDP growth in 2026, Professor Vu Minh Khuong said the goal is highly ambitious and difficult, but achievable if Vietnam pushes through robust reforms in the period ahead. He cautioned that relying heavily on public investment and large-scale credit expansion could pose risks to long-term economic sustainability. To secure growth of around 10% on a solid footing, Vietnam cannot follow its old development trajectory, he said, but must move decisively onto a new path.

According to the professor, the entire political system, along with businesses and the public, needs to rethink the country’s development model. Reforms carried out in 2025 mark an important starting point, particularly the consolidation of provinces and ministries, which he said has the potential to generate combined strength across the nation, society and the broader economy. Grasping these fundamentals, he added, would enable Vietnam to accelerate rapidly in the coming years.

Sharing experience from the Johor special economic zone linked with Singapore, Vu Minh Khuong said Johor has positioned itself as a hub for artificial intelligence, the digital economy and data centers. This orientation has helped attract between US$30 billion and US$50 billion from international companies and driven strong growth, putting Johor on the global map.

Vietnam, he argued, should pursue a similar strategy by allowing the development of free trade zones and next-generation special economic zones in major localities such as Ho Chi Minh City, Da Nang and Hai Phong, with Hanoi a longer-term possibility. If Vietnam positions itself as a global hub for AI data, and more importantly, as a next-generation financial center, it could attract tens of billions of US dollars, create hundreds of thousands of jobs and significantly elevate its international standing.

To realize this vision, the professor said, Vietnam needs breakthroughs in both strategic vision and national positioning, alongside special institutional mechanisms. Within such economic zones, legal frameworks aligned with international practices would be critical in creating competitive advantages. Leading global universities could also establish campuses to help train high-quality human resources for Vietnam.

Second, Vu Minh Khuong stressed that the presence of major global corporations in Vietnam should move beyond traditional investment attraction models. Instead, these companies should work closely with Vietnam to help shape its future development. He proposed the creation of highly specialized task forces to engage directly with leading firms, jointly tackling challenges faced by both Vietnam and the global economy, particularly in areas linked to digital transformation, reported VOV.

Photo: VOV

Third, Vietnam must act swiftly to remove bottlenecks that are constraining labor productivity, he said. If each sector can add an extra one to two percentage points to growth, the 10% target would be within reach. Achieving such growth, he added, would be highly compelling and could usher Vietnam into a new phase of rapid advancement, sending a strong signal to international investors that those who move too slowly risk being left behind as the country emerges as a true “Asian dragon.”

Third, Vietnam must act swiftly to remove bottlenecks that are constraining labor productivity, he said. If each sector can contribute an additional one to two percentage points to growth, the 10% target would be within reach. Achieving such growth, he added, would be highly compelling and could usher Vietnam into a new era of rapid advancement, sending a strong signal to international investors that delaying engagement would mean falling behind as the country emerges as a true “Asian dragon.”

From the perspective of investors, Vu Minh Khuong said reforms in Vietnam have consistently delivered positive outcomes, characterized by what he described as “stability on an upward trajectory.” He nonetheless recommended stronger decentralization to ensure smoother and faster policy implementation.

The professor stressed the importance of a new development trajectory grounded in listening to businesses, experts, initiatives from localities and initiatives from international partners. Such a trajectory is particularly critical in the digital economy, where artificial intelligence poses a central challenge. He also called for closer collaboration with multinational corporations, domestic firms and small and medium-sized enterprises to sustain incremental change.

The professor laid stress on the importance of a new development trajectory grounded in listening to businesses, experts, initiatives from localities and input from international partners. Such a trajectory is particularly critical in the digital economy, with artificial intelligence posing a central challenge. He also called for closer collaboration with multinational corporations, domestic firms and small and medium-sized enterprises to drive continuous, incremental change.

Finally, Vu Minh Khuong underlined the need to recognize and measure progress on a regular basis, including quarterly assessments. He suggested greater transparency in productivity- and innovation-based incentive funds to promote a more dynamic competitive environment. Expressing confidence, he said Vietnam is poised to enter a new era beginning in 2026.

Vietnam, MERCOSUR to soon launch PTA negotiations

Vietnam and the Southern Common Market (MERCOSUR) will officially launch negotiations on a preferential trade agreement (PTA) in the near future, announced Brazilian Foreign Minister Mauro Vieira.

Vieira made the announcement while addressing at the 67th MERCOSUR Summit held in Foz de Iguazu, Brazil, last week.

The diplomat reiterated that Vietnam is an important economic partner of the bloc, adding that the future agreement marks an important milestone in promoting trade between MERCOSUR and Vietnam, contributing to strengthening relations between the two sides.

This is a positive outcome achieved after considerable efforts by the parties to advance negotiations, with a focus on negotiating tariff reductions in order to deliver tangible benefits to all participating sides.

In September 2025, Vietnam's Ministry of Industry and Trade and the negotiating delegations of MERCOSUR countries held meetings and engaged in positive exchanges to agree on the roadmap for implementing negotiations on the future agreement.

All relevant sides are currently finalizing the terms of reference as the basis for the first negotiation round, which is expected to take place in the early months of 2026, cited VGP.

Vietnam and the Southern Common Market (MERCOSUR) will officially launch negotiations for a preferential trade agreement (PTA) in the near future

The Joint Statement on the launch of negotiations for the Vietnam– MERCOSUR PTA will be announced during Brazil's rotating presidency, reflecting the South American country's appreciation of the friendly relations between the two countries.

According to data from the Vietnam Customs Department, as of the end of November 2025, total trade turnover between Vietnam and the bloc reached US$11.46 billion, approximately equal to the same period in 2024. Of the figure, Vietnam's exports to MERCOSUR amounted to US$3.59 billion (up 15.9 percent), while imports from the bloc reached US$7.87 billion (down 4.8 percent).

Once signed, the Vietnam–MERCOSUR PTA is expected to enhance competitiveness and provide a strong boost to Vietnamese exports to MERCOSUR markets, in general, and the South American region, in particular.

Hanoi-HCM City ranks fourth among world’s busiest domestic air routes in 2025

The Hanoi-Ho Chi Minh City air route placed fourth among the world’s busiest domestic routes in 2025, according to OAG, a British aviation data and analytics firm.

OAG said around 11 million seats were scheduled on the route in 2025, up 4% year on year and 8% above 2019 levels. The route remains highly competitive, with six airlines operating services this year, while airfares fell 11% year on year, bringing the average one-way ticket price down to US$67.

South Korea’s Jeju–Seoul route topped the ranking, with 14.4 million seats scheduled in 2025, equivalent to nearly 39,000 seats per day on the 243-nautical-mile sector. Capacity on the route is 1% higher than in 2024, though still 17% below 2019 levels. Average one-way fares dropped 11% year on year to US$44, VOV reported.

The Hanoi-Ho Chi Minh City route is listed among the world’s four busiest domestic air routes in 2025 (Photo: OAG)

The second- and third-busiest domestic routes were both in Japan: Sapporo New Chitose–Tokyo Haneda and Fukuoka–Tokyo Haneda.

Other routes on the list included Jeddah–Riyadh in Saudi Arabia, Melbourne-Sydney in Australia, Tokyo Haneda-Okinawa Naha in Japan, Delhi-Mumbai in India, Beijing–Shanghai, and Shanghai Hongqiao-Shenzhen in China.

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