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Vietnamese State President Luong Cuong (R) and Cho Hyun-Sang, chair of the APEC Business Advisory Council (ABAC) meet on the sidelines of the ABAC III meeting in Hai Phong city on July 15.

Vietnam reaffirms commitment to regional economic cooperation

State President Luong Cuong reiterated Vietnam’s commitment to regional economic cooperation during his meeting on July 15 with Cho Hyun-Sang, chair of the APEC Business Advisory Council (ABAC) on the sidelines of the ABAC III meeting in Hai Phong city.

President Cuong welcomed Cho, who is also Vice Chairman of Hyosung Group of the Republic of Korea (RoK), to Vietnam and expressed appreciation for the RoK’s leadership role in hosting APEC 2025. He praised ABAC’s decision to hold its third meeting in Hai Phong city, which he said reflects the council’s recognition of Vietnam’s role and credibility within the Asia-Pacific region.

He emphasized that this ABAC meeting is not only a key preparatory step for the APEC Economic Leaders' Meeting to be held in the RoK in October 2025, but also a crucial opportunity to build consensus among APEC’s business communities on recommendations for inclusive and sustainable regional growth.

Vietnam, he assured, will actively contribute to these recommendations, which aim to shape an open, resilient, and forward-looking economic future for the region.

President Cuong also noted that this meeting also marks an important beginning in Vietnam’s preparations for its hosting of the APEC Summit in 2027. He called on APEC member businesses to continue supporting and partnering with Vietnam in its efforts to successfully assume the APEC presidency role, cited VOV.

Cho, for his part, acknowledged Vietnam’s strong support for the international business community, as well as Hai Phong’s good preparations for the ABAC meeting. He highlighted Vietnam’s continuous efforts to improve its investment climate, enhance public-private dialogue, and create favorable conditions for long-term and sustainable foreign investment.

He also shared ABAC’s 2025 agenda priorities, including accelerating regional economic recovery, fostering deeper integration, and contributing to a cohesive, inclusive, and prosperous APEC business environment.

President Cuong acknowledged the positive development of Vietnam’s trade and investment relations with APEC economies and underscored Vietnam’s commitment to supporting foreign enterprises, including ABAC member businesses, in long-term and successful operations in Vietnam.

As Vice Chairman of Hyosung Group, Cho briefed his host on the corporation’s ongoing investments across various Vietnamese localities and expressed appreciation to the government for its strong and consistent support for Korean businesses. He reiterated Hyosung’s commitment to further contributing to Vietnam’s economic growth.

President Cuong welcomed Hyosung’s investment projects and reaffirmed Vietnam’s strategic focus on high-tech development, science, and innovation. He encouraged Cho, in his capacity as ABAC Chair, to continue fostering connections between Vietnamese enterprises and their regional counterparts and to serve as an advisor and partner in Vietnam’s successful hosting of APEC 2027.

On this occasion, Cho extended a formal invitation to President Cuong to attend and deliver a keynote speech at the APEC CEO Summit to be held in the RoK in October 2025.

Vietnam and South Africa promote trade and investment cooperation

Vice Chairman of the National Assembly of Vietnam Vo Hong Thanh on July 14 held a working session with the South African Chamber of Commerce and Industry (SACCI) during his ongoing working visit to the African nation to sound out cooperation opportunities.

During the meeting, Thanh provided an overview of Vietnam’s socio-economic development, highlighting key achievements in GDP growth, exports, foreign investment attraction, macroeconomic stability, and institutional reforms. He emphasized that both Vietnam and South Africa have significant potential and complementary strengths, and that the bilateral relationship still holds considerable room for further growth, especially in trade, investment, and business engagement.

He highly appreciated the recent signing of a Memorandum of Understanding (MoU) between SACCI and the Vietnam Chamber of Commerce and Industry (VCCI), calling it an important foundation for boosting cooperation between the business communities of both countries. He recommended that both sides actively share information on their investment environments, trade policies, market demands, and cooperation opportunities to facilitate mutual development.

Meanwhile, SACCI CEO Alan Mokoki-Hlongwane commended Vietnam as a serious and committed partner in economic and people-to-people relations. He noted that the two countries share similar visions for development, particularly in promoting sustainable economic growth and addressing domestic challenges such as unemployment and inequality.

Mokoki-Hlongwane pointed out that, as South Africa is intensifying efforts to combat rising unemployment, strengthening economic and trade cooperation with Vietnam could serve as an effective solution to drive national development and social stability. He also expressed hope for elevating bilateral cooperation through effective and regular dialogue mechanisms.

To effectively implement the MoU, the SACCI CEO proposed the establishment of a Vietnam–South Africa Business Council, consisting of 6 to 12 business representatives from each side, with a mechanism for regular quarterly meetings to exchange views on collaboration opportunities and define shared goals in trade and investment.

Thanh welcomed SACCI’s initiative and pledged to report the proposal to VCCI for further discussion and implementation. He affirmed that the Vietnamese National Assembly always supports the strengthening of bilateral parliamentary cooperation and stands ready to create favorable conditions for businesses from both countries to expand long-term partnerships and investments, reported VOV.

Vice Chairman of the National Assembly of Vietnam Vo Hong Thanh holds a working session with the South African Chamber of Commerce and Industry during his ongoing visit to the African nation from July 13-16. (Photo: VNA)

Earlier, National Assembly Vice Chairman Hong Thanh visited the Embassy of Vietnam in Pretoria and held a meeting with Embassy staff and representatives of the Vietnamese community in South Africa.

Thanh shared that South Africa is Vietnam’s largest trading partner and top export market in Africa, with bilateral trade reaching nearly US$1.8 billion in 2024. South Africa is also the first and only African country recognised as a “Partner for Cooperation and Development” by Vietnam. He recalled the historic phone conversation in April 2025 between Party General Secretary To Lam and President of South Africa, also the leader of the African National Congress (ANC) Cyril Ramaphosa, during which both sides outlined strategic directions for deepening bilateral ties.

He stated that his current visit aims to implement high-level commitments, reinforce political relations, and strengthen parliamentary cooperation, making it a pillar of bilateral relations. The visit also seeks to expand cooperation, tap into both countries' potential, and realise shared goals in a new development phase.

The legislator briefed the participants on Vietnam’s developments, and reaffirmed the Party and State’s consistent policy of caring for overseas Vietnamese communities. He praised the contributions of overseas Vietnamese, especially in South Africa, noting with pleasure the community’s growing stability, unity, and development. He encouraged them to continue preserving their national identity, language, and cultural traditions, to live and work lawfully and integrate well into South African society, and to serve as a vital bridge to promote Vietnam–South Africa friendship.

He highly appreciated the efforts of the Embassy of Vietnam in South Africa, and urged it to further enhance support for the overseas Vietnamese, foster solidarity, and organise more activities that strengthen the connection between the diaspora and the homeland.

There are around 200 Vietnamese currently living and studying across various South African cities.

Conference seeks ways to promote Vietnam – Cambodia trade

Nearly 300 Vietnamese and Cambodian enterprises gathered in Ho Chi Minh City on July 15 for the Vietnam–Cambodia business connectivity conference to enhance bilateral trade and investment cooperation.

The event brought together businesses across such key sectors as agriculture, aquaculture, food processing, textiles, packaging, cosmetics, consumer goods, machinery, banking, real estate, and logistics. It featured direct business networking, exhibitions, and service showcases.

There was an exhibition area with 25 booths displaying key export products and competitive advantages from both countries, drawing significant interest from importers, distributors, and retailers.

Enterprises held that the conference provided invaluable opportunities for brand promotion, market trend analysis, technical requirement assessment, and consumer preference insights, enabling more effective market access strategies. For Cambodian enterprises, the event offered crucial insights into Vietnam's production capabilities and development potential, contributing to supply chain diversification and enhanced value creation.

Deputy Director of the Vietnamese Ministry of Industry and Trade (MoIT)’s Department of Foreign Market Development Do Quoc Hung highlighted that amidst regional and global volatility, strengthening business community connections plays an essential role in maintaining stable supply chains, capitalising on existing trade agreements, and supporting enterprises from both countries in enhancing their competitive edge.

The conference was expected to deliver on the sustainable two-way trade growth target while laying a foundation for building a more modern, efficient, and balanced trade cooperation ecosystem between the two economies, cited VNA.

The Vietnam–Cambodia business connectivity conference held in Ho Chi Minh City on July 15 aims at boosting trade and investment between the two economies. (Photo: VNA)

Meanwhile, Chairman of the Vietnam – Cambodia Business Association (VCBA) Oknha Leng Rity noted that Cambodian enterprises are increasingly interested in accessing Vietnamese goods, technology, and management models, particularly in high-tech agriculture, food processing, consumer products, and logistics services.

He expressed his hope that the two sides will maintain and expand regular trade promotion activities while establishing flexible cooperation mechanisms between business associations to remove bottlenecks in a timely manner, share market information, and support enterprises’ sustainable development amidst deep regional integration.

On this occasion, the Cambodia Chamber of Commerce and the VCBA signed a Memorandum of Understanding, establishing close coordination mechanisms to promote market information sharing and implement joint promotional programs in the coming period.

According to the MoIT, the value of trade between Vietnam and Cambodia reached 6.2 billion USD in the first six months of 2025, a year-on-year increase of 16.8%. Vietnam's exports to Cambodia totaled 2.7 billion USD, up 4.6% from the same period last year.

Vietnam becomes increasingly favorite destination for Australian tourists

In its recent article, Australia's Sky News held that Aussie holidaymakers have picked their new favorite international destination and it appears to be in the vibrant, atmospheric and culturally rich southeast Asian nation of Vietnam.

The article noted that there was "clear evidence" of Vietnam rapidly gaining popularity and it was not expected to slow down any time soon.

The destination's close proximity to Australia and rich variety of experiences, from historic cities and chaotic market streets to towering natural landscapes, the sheer variety of scenery means a visit to Vietnam can feel like several countries in one, it added.

Another feature that makes Vietnam an attractive destination for Australians is the country's dollar value, according to Travel Money Oz.

Vietnam consistently offers Australians incredible value, and with the Australian dollar's steady appreciation against the Vietnamese dong in recent months; travelers can enjoy even more bang for their buck, it stated.

Travel company Klook has also reported a major spike of up to 250 per cent in hotel bookings in Vietnam between March and June 2025, compared to the same time last year.

Photo: VGP

Vietnam's most searched destinations include Ho Chi Minh City, Ha Noi, Da Nang, Ha Long Bay and Hoi An.

The National Statistics Office reported that more than 276,000 Australian visitors traveled to Vietnam in the first half of this year.

The Southeast Asian nation welcomed 10.7 million foreign arrivals in the first half of this year, a year-on-year increase of 21 percent and a rise of nearly 26 percent compared to the pre-Covid level.

According to the May edition of the World Tourism Barometer published by the United Nations Tourism Organization (UN Tourism), in the first quarter of 2025, Vietnam led the Asia-Pacific region in the growth of international tourist arrivals, with a 30 percent increase compared to the same period in 2024, and ranked second in terms of recovery in international arrivals, with a 34 percent rise compared to the first quarter of 2019.

Globally, in the first three months of 2025, Vietnam ranked sixth in terms of international tourist arrival growth (up 30 percent compared to the same period in 2024) and placed fourth in total tourism revenue growth, with a year-on-year increase of 29 percent.

Vietnam ready to share OCOP development experience with global partners

Vietnam is willing to share its resources, human capital, and sci-tech expertise with countries that have similar climatic and soil conditions, supporting them in developing OCOP products and advancing sustainable agriculture, stated Deputy Prime Minister Tran Hong Ha.

Ha made the remark on July 15 while hosting a courtesy reception for a delegation of agriculture ministers and senior officials attending a high‑level inter‑regional forum on the One Commune – One Product (OCOP) model, jointly organized by Vietnam’s Ministry of Agriculture and Environment and the Food and Agriculture Organization of the United Nations (FAO).

The Deputy PM said Vietnam hopes that the forum would become a platform for sharing both successful and unsuccessful experiences, as well as for reaching a shared understanding in the context of over 800 million people around the world facing hunger.

He highlighted that one of the key strengths of Vietnam’s OCOP program is its close alignment with the goals of building new-style rural areas and eliminating poverty. The program benefits from state budget support and focuses on improving knowledge and promoting rural modernization.

Vietnam has so far developed more than 16,000 OCOP products, rated from one to four stars. Deputy PM Ha noted that the Government is working to enhance product branding and standardization so that these products can reach five-star quality and access international markets, thereby contributing to sustainable poverty reduction efforts.

The official underlined the importance of establishing a post-forum coordination mechanism among Vietnam, FAO, and participating countries to ensure that the forum’s outcomes translate into concrete actions. He proposed that FAO take the lead in facilitating this collaboration, helping countries identify high-quality agricultural products, promoting mutual support, and supplying those products for regional markets.

The meeting between Deputy Prime Minister Tran Hong Ha and the delegation of international agriculture ministers and senior officials on July 15 (Photo: VNA)

He also called on FAO and participating countries to join Vietnam in building a joint initiative endorsed by high-ranking leaders to ensure that the benefits of international agricultural cooperation directly reach all people, especially farmers.

Beth Bechdol, FAO Deputy Director-General, praised Vietnam’s remarkable achievements in agricultural development, especially its OCOP program. She said Vietnam not only focuses on agricultural production and trade but also integrates OCOP with cultural values and local knowledge, delivering broad social benefits to communities, according to VNA.

This success, she noted, is a source of inspiration for many countries grappling with food security, climate change, and rural development challenges. Drawing from Vietnam’s experience, FAO is committed to continuing its support, deepening cooperation, and promoting OCOP as a global initiative to contribute to an innovative, humanistic, and sustainable agricultural future.

Delegates at the meeting also voiced strong support for open cooperation and experience sharing among countries in agricultural production and food-nutrition security, particularly as many face serious challenges such as shrinking arable land, wildlife conflict, climate change, and economic insecurity.

The forum, taking place on July 15 and 16, saw the participation of officials from Bhutan, Cameroon, Côte d’Ivoire, the Democratic Republic of the Congo, Gabon, Ghana, Ethiopia, Lesotho, Malawi, Mozambique, Nepal, Sierra Leone, South Sudan, Tunisia, Vietnam, Zambia, and Zimbabwe.

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