Vietnam News Today (Jun. 23): Prime Minister Pham Minh Chinh to Attend WEF Annual Meeting of New Champions

	Vietnam News Today (Jun. 21): Vietnam, China Intensify Experience Sharing in Diplomatic Affairs
	Vietnam News Today (Jun. 22): Vietnam Makes Remarkable Economic Progress Over Past Decades

Prime Minister Pham Minh Chinh.

Prime Minister Pham Minh Chinh to attend WEF annual meeting of new champions

Prime Minister Pham MInh Chinh is set to attend the World Economic Forum Annual Meeting of the New Champions and pay a working visit to China from June 24-27, the Ministry of Foreign Affairs confirmed Saturday.

Prime Minister Pham's tour will be made at the invitation of Chinese Premier Li Qiang and WEF President and CEO Børge Brende, cited VGP.

The 16th Annual Meeting of the New Champions 2025, themed 'Entrepreneurship for a New Era' will bring together leaders from government, business and academia, along with innovators and representatives from international organizations, media and civil society.

Through action-oriented dialogues, the meeting aims to accelerate progress on shared imperatives and offer participants the opportunity to explore how entrepreneurship and emerging technologies can unlock more dynamic and resilient economies. Additionally, it will provide valuable insights into emerging markets and their role in driving global economic growth.

Sustainable development plays vital role in maintaining int’l peace, security: Vietnamese official

Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu has highlighted the critical role of sustainable development in maintaining international peace and security, stressing that sustainable development is not only a goal but also a foundation for lasting peace.

Addressing a high-level open debate of the UN Security Council (UNSC) on “Poverty, Underdevelopment, and Conflict: Implications for the Maintenance of International Peace and Security” in New York on June 20, Vu stressed that challenges such as poverty, inequality, food insecurity, and loss of livelihoods are root causes of instability, and if left unaddressed, they can act as triggers that escalate tensions and fuel conflicts.

Sharing Vietnam’s lessons and practical experience in post-war reconstruction, Vu stressed that placing sustainable development at the centre with the support from international partners, including UN agencies, has been a crucial catalyst for Vietnam’s economic recovery, social cohesion, and remarkable development achievements over the past decades.

He also spotlighted Vietnam’s active contributions to advancing development priorities within the UN’s peace and security agenda. Notably, during its 2021–2022 term as a non-permanent member of the UNSC, Vietnam initiated Resolution 2573 on the protection of essential infrastructure for people's lives amid armed conflicts, according to VNA.

Participants at the high-level open debate of the UN Security Council (UNSC) on “Poverty, Underdevelopment, and Conflict: Implications for the Maintenance of International Peace and Security” in New York on June 20, 2025. (Photo: VNA)

He took the occasion to offer several concrete recommendations to strengthen closer coordination between the UNSC and the UN development system, particularly with the UN Economic and Social Council (ECOSOC), as well as the UN Peace-building Commission (PBC), and other relevant bodies, thus fostering a more comprehensive and integrated approach to peacekeeping, peacebuilding, sustaining peace, post-conflict recovery, and sustainable development.

In his opening remarks, UN Secretary-General Antonio Guterres, who is also Regional Director for Asia and the Pacific at the UN Development Program (UNDP), emphasized that deep-rooted poverty and inequality are fundamental causes of prolonged conflict and instability in many countries and regions.

He urged the international community to step up investment in conflict prevention through sustainable, inclusive, and equitable development, with strong protection for vulnerable groups, and to give this issue the highest priority.

Echoing Guterres’s proposal, Vu called on the international community to enhance resource mobilisation for new projects, focusing on addressing poverty and underdevelopment in areas at high risk of conflict.

He affirmed that Vietnam stands ready to work with partners toward a more comprehensive, effective, and sustainable peace and security agenda of the UN.

Three decades of Vietnam-US relations marked by stronger business partnership

The Vietnamese Embassy in the United States, together with the US-ASEAN Center, the US-ASEAN Business Council, and Arizona State University, has co-hosted a roundtable titled “30 Years of Vietnam-US Relations: The Role of Public-Private Partnerships” in Washington, D.C.

The event was part of a series commemorating three decades of bilateral ties. The roundtable drew more than 100 participants, including former Vietnamese Ambassador to the US Pham Quang Vinh (2014–2018); former US Ambassadors to Vietnam Michael Michalak (2007–2011), Ted Osius (2014–2017), Daniel Kritenbrink (2017–2021), and Marc Knapper (2022–present); Deputy Assistant Secretary of State Andrew Herrup; senior executives from leading US corporations such as Boeing, Intel, Citi, Lockheed Martin, and Nike; Vietnamese-American business leaders; and scholars from US academic institutions.

In his opening remarks, Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed and affirmed the vital and consistent role of businesses from both countries in advancing Vietnam–US relations, from before normalization in 1995 to the present, as the two countries now enjoy a comprehensive strategic partnership, reported VOV.

Photo: VOV

Ambassador Dung recalled that even when Vietnam was still under embargo, many US companies explored the market and laid the foundation for future economic cooperation. After normalization, major US corporations expanded their presence in Vietnam, making substantial contributions to infrastructure, workforce development, and institutional reform.

He emphasized that the business community has not only served as a vivid testament to the normalization process, but also as a driving force behind sustained ties, helping build trust and strengthen bilateral relations, even during politically challenging periods.

Vietnam is cheapest country to live as expat: Daily Mail

Daily Mail quoted a spokesperson's saying that a long-time favorite among budget-conscious and digital nomads, Vietnam has all the ingredients needed to make the perfect quality of life.

From sun-swept beaches to metropolitan cities, good food and friendly locals, modern conveniences and ancient traditions to discover, Vietnam is one of the few countries that can truly claim to have it all.

A one-bedroom apartment can cost as little as US$361 or £265 a month while a three bedroom condo comes to US$801 or £589 on average per month.

And the overall cost of living in Vietnam is 59 percent cheaper than the UK, highlighted William Russell.

The experts say the country's cheapest city is Da Nang, a coastal metropolis with easy access to beaches and a vibrant nightlife scene.

Earlier, a 2024 InterNations study showed that Vietnam is the most affordable country in the world for expats, ranking first out of 53 destinations when it comes to personal finances, VGP reported.

Da Nang is Vietnam's cheapest city with easy access to beaches and a vibrant nightlife scene, according to Daily Mail.

Vietnam also came in 40th place for quality of life, 29th place for expat essentials such as digital life, housing and language, and ranked 14th for working abroad-with considerations like career prospects, salary and job security factored in.

Meanwhile, the 2024 Expat Insider report stated that 86 percent of expatriates rated Vietnam's cost of living positively, more than double the global average. Some 65 percent expressed satisfaction with their financial situation, citing high incomes and low expenses. Around 19 percent reported annual earnings of above US$150,000 compared to the global average of 10 percent.

Data from MovetoAsia, a consultancy specializing in foreign investment and relocation, shows an 18 percent increase in expatriates seeking assistance to move to Vietnam in 2024.

Vietnam hosted more than 9.2 million international visitors in the first five months of the year, rising by 21.3 percent against the same time of 2024, according to the Vietnam National Authority of Tourism (VNAT).

Vietnam establishes first free trade zone in Da Nang

In a significant milestone for regional development, Deputy Prime Minister Nguyen Hoa Binh on June 22 officially announced the Prime Minister's decision to establish the Da Nang Free Trade Zone (FTZ), the first of its kind in Vietnam.

This strategic initiative marks a turning point for the central city of Da Nang and the nation as a whole, setting the stage for enhanced economic integration, innovation, and investment.

Spanning approximately 1,881 hectares, the FTZ comprises non-contiguous areas with specialised functional zones including production, logistics, trade and services, digital technology, information technology and innovation hubs.

Developed with state-of-the-art infrastructure, it is designed to become a leading regional economic center and a strategic growth pole in Vietnam’s new development landscape, VNA reported.

Deputy Prime Minister Nguyen Hoa Binh presents the Prime Minister's decision to establish the Da Nang Free Trade Zone on June 22. (Photo: VNA)

The long-term vision for the zone includes transforming it into a vital node within the global supply chain, particularly within the Asia-Pacific region. It aims to serve as a hub for international freight transit, with connections to Lien Chieu Port, Da Nang International Airport, and the East-West Economic Corridor.

The FTZ is a key component in the country’s broader economic restructuring strategy, especially as Da Nang prepares for greater integration following its planned merger with Quang Nam province.

It is also closely linked to the development of the Da Nang international financial center, intended to foster a smart, modern, and competitive economic ecosystem that strengthens Vietnam’s position on the global stage.

Deputy Prime Minister Nguyen Hoa Binh emphasized the FTZ’s symbolic importance as the first of its kind in Vietnam, highlighting its role as an important step in realizing the Government's long-term vision for Da Nang.

During the ceremony, several memoranda of understanding (MoUs) were signed between Da Nang city authorities and major domestic and international investors. These include Terne Holdings Group, One Destination, BRG Group, Imex Pan Pacific, Newtechco Group, and Saigon Da Nang Investment JSC – demonstrating widespread confidence in the FTZ's potential.

These MoUs are seen as the first concrete steps toward realizing the zone’s promise. They will contribute directly to turning strategic policy frameworks into practical and growth-driving initiatives.

Speaking at the ceremony, Chairman of the Da Nang People’s Committee Le Trung Chinh described the FTZ as a “breakthrough institutional model” aimed at fostering green growth, innovation, and strategic investment attraction.

He emphasized the city’s commitment to putting the FTZ into operation swiftly and efficiently, through clear planning, administrative reform, and policy innovation.

The FTZ will work in tandem with other high-impact projects such as the development of a deep-water port, the Pearl Island area, and the International Financial Center, according to the chairman.

Together, these initiatives are expected to make Da Nang a compelling destination for both foreign direct investment and domestic enterprise growth.

The establishment of the Da Nang FTZ is more than just a regional development initiative, it is a symbol of Vietnam’s evolving role in the global economy.

With the right infrastructure, policies, and partnerships in place, Da Nang is poised to become a central hub for innovation, logistics, and international commerce in the years to come.

Da Nang calls upon investors from around the world to explore the potential of its FTZ, to contribute to building a dynamic center of production, service, and innovation – an essential engine of growth for the central region and for Vietnam in this new era of global integration, Chinh said.

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