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General Secretary, President To Lam to pay State visit to Sri Lanka

General Secretary and President of Vietnam To Lam will pay a state visit to Sri Lanka from May 7 to 8, the Ministry of Foreign Affairs announced on Monday.

The visit will be made at the invitation of Sri Lankan President Anura Kumara Dissanayake.

The visit is expected to mark a new milestone in bilateral relations, opening up opportunities for breakthroughs in economic, trade, and investment cooperation, and contributing to effectively responding to rapid changes in the global political and economic landscape.

This is the first State visit to Sri Lanka by Party General Secretary and President To Lam in his capacity as the head of the Party and the State.

In May 2025, Sri Lankan President Anura Kumara Dissanayake paid a State visit to Vietnam and attended the United Nations Day of Vesak celebrations held in Ho Chi Minh City.

General Secretary and President To Lam.

At their meeting in Hanoi at that time, General Secretary To Lam affirmed that, with its strengths, Vietnam wishes to accompany and cooperate with Sri Lanka in socio-economic development.

Vietnam and Sri Lanka established diplomatic relations on July 21, 1970. The two countries share the traditional friendship and multifaceted cooperation.

Political parties in Sri Lanka hold goodwill toward and value relations with Vietnam, viewing Vietnam as a successful model of economic development to learn from. Sri Lanka has recognized Vietnam as a full market economy.

Last year, bilateral trade turnover reached approximately US$260 million, up 20 percent compared to 2024. As of March 2026, bilateral trade turnover stood at about US$50 million, according to VGP.

Sri Lanka has 34 valid projects in Vietnam with total registered capital of US$43 million, ranking 64th out of 154 countries and territories investing in Vietnam. Sri Lankan investors poured investment capital across 7 out of 21 economic sectors, mainly in processing and manufacturing industries.

In terms of finance, the two countries signed an Agreement on the Avoidance of Double Taxation in October 2005 and an Agreement on Cooperation and Mutual Assistance in Customs in May 2025.

Sri Lanka is now home to around 200 Vietnamese people.

Prime Minister Le Minh Hung. Photo: VGP

Prime Minister Le Minh Hung to participate in 48th ASEAN Summit in Philippines

Prime Minister Le Minh Hung is set to participate in the 48th ASEAN Summit and related Summits in Cebu, the Philippines from May 7-8, the Ministry of Foreign Affairs announced on Monday.

The Prime Minister's Philippines tour will be made at the invitation of Philippine President Ferdinand Romualdez Marcos Jr, Chair of ASEAN in 2026.

The Philippines assumes the ASEAN Chairship in 2026 at a defining moment for the region. Home to nearly 700 million people and the world's 5th largest economy, ASEAN stands at the crossroads of unprecedented opportunity and evolving global challenges. By 2030, ASEAN is poised to become the 4th largest economy in the world—a powerful testament to the strength of its cooperation, diversity, and shared aspirations.

As Chair, the Philippines embraces this responsibility with resolve and vision. Guided by the theme "Navigating Our Future, Together," the 2026 Chairship reflects the Philippines' commitment to leading ASEAN with unity, clarity, and purpose. It is a call to steer our region toward greater resilience, deeper connection, and meaningful change that places our people at the center of progress, cited VGP.

Rooted in ASEAN's founding values of peace, stability, and inclusive growth, the Philippines' Chairship is shaped by three strategic priorities:

* Peace and Security Anchors : Championing peace and regional stability through dialogue, adherence to international law, and strengthened cooperation on emerging and non-traditional security threats.

* Prosperity Corridors : Building systemic connections towards a shared prosperity through economic integration, digital transformation, and inclusive and sustainable development that benefits aII ASEAN peoples.

* People Empowerment : Empowering ASEAN's people by fostering social inclusion, protecting vulnerable groups, and promoting a sense of shared identity and community.

Together, these priorities serve as our compass—anchoring our decisions, guiding our initiatives, and shaping a future where peace, prosperity, and people are not only aspirations, but enduring foundations of the ASEAN community.

This Chairship also coincides with the 50th anniversary of the Treaty of Amity and Cooperation in Southeast Asia (TAC), a timely opportunity to reaffirm ASEAN's founding principles and collective vision.

Vietnam, India expand trade cooperation in new growth phase

The coming state visit to India by Party General Secretary and State President To Lam is expected to create momentum helping the two countries shape the framework for bilateral cooperation in a new development phase.

The visit comes as the two countries continue to deepen their Comprehensive Strategic Partnership, which was established in 2016. Over the past decade, Vietnam and India have continuously strengthened political trust while expanding practical cooperation across all spheres, including trade, investment, digital technology, energy, innovation and manufacturing.

Economic complementarity

The Vietnamese Ministry of Industry and Trade reported that bilateral trade has maintained strong growth in recent years, tripling from 5.4 billion USD in 2016 to 16.4 billion USD in 2025, the highest level recorded so far.

In 2025 alone, their trade turnover reached 16.46 billion USD, up 10.5% compared with 2024. Vietnam’s exports to India rose 14.2% to 10.3 billion USD while imports increased 4.9% to 6.1 billion USD.

The upward trend has continued in 2026. In the first quarter, bilateral trade hit 4.8 billion USD, up 28% year-on-year. Vietnam shipped 2.9 billion USD worth of goods to India, up 25%, while its imports from the latter climbed 34% to 1.8 billion USD.

Vietnam’s exports to India are dominated by manufactured and processed products, accounting for more than 70% of total shipments. Major items include electronics, machinery, agricultural and aquatic products, rubber, pepper, iron and steel products. Meanwhile, imports from the South Asian country mainly include textile materials, plastics, steel, seafood and pharmaceuticals serving domestic production and export.

Specialists said one of the most notable features of current economic ties is the increasing complementarity of the two economies. India boasts advantages in market scale, raw materials, software, pharmaceuticals and supporting industries, while Vietnam has developed strong manufacturing and export capacity and is deeply integrated into global markets through a network of new-generation free trade agreements.

This complementarity has reduced direct competition and increasingly shifted cooperation towards supply-chain integration, production linkages and market expansion. As global manufacturers diversify production bases beyond traditional centres, Vietnam and India are emerging as important links in regional supply-chain restructuring.

Investment collaboration is also broadening. India is currently running projects in 20 of Vietnam’s 34 provinces and cities. Ho Chi Minh City is the top destination of Indian investments, followed by Dak Lak, Khanh Hoa, Thanh Hoa, Tay Ninh, Nghe An and Phu Tho, according to VNA.

Manufacturing electrical and electronic components at Minda Vietnam Automotive Co., Ltd, an Indian-invested company in Phu Tho province. ( File Photo: VNA)

Meanwhile, Vietnam has 30 investment projects in India with total registered capital of nearly 150.5 million USD. A notable development is Vingroup’s plan to build an electric vehicle factory in Tamil Nadu.

Vast room for cooperation expansion

Textiles and footwear are becoming major areas for deeper industrial cooperation. As global textile supply chains are being reconfigured, Vietnam’s strengths in manufacturing and exports complement India’s advantages in cotton, natural fibres, dyeing and raw materials. Besides, specialised fairs such as Bharat Tex 2026 and MEET AT AGRA 2026 are expected to further bridge their businesses operating in leather, production technology and supporting industries.

Digital technology is also emerging as a new growth driver. A memorandum of understanding on cooperation between the Vietnam Software and IT Services Association and India’s Services Export Promotion Council has strengthened business links in digital services, software outsourcing, artificial intelligence, the Internet of Things and digital transformation.

Retail distribution is opening up further opportunities. On April 24, the Vietnam Trade Office in India held talks with Reliance Retail on expanding the presence of Vietnamese products in the SMART Bazaar network, including fresh fruits, coffee, cashew nuts, processed seafood and fast-moving consumer goods.

Experts said direct access to India’s modern retail system will help Vietnamese goods move beyond traditional intermediary channels, thus raising added value and strengthening brand recognition in one of the world’s largest consumer markets.

Further momentum is expected from the review and upgrade of the ASEAN – India Trade in Goods Agreement (AITIGA). At the 12th meeting of the AITIGA Joint Committee in Jakarta in late March, ASEAN and India agreed to work towards substantially concluding negotiations in 2026.

Experts believe that the target of 20 billion USD in trade between Vietnam and India is no longer a distant milestone if both sides continue to maintain their current growth rate and further promote business connectivity, logistics, payments, investment promotion, and technology cooperation.

More importantly, the Vietnam – India economic relationship is now not only bilateral but also linked to the shaping of new supply chains in the Indo-Pacific region. In the context of a volatile global economy, strengthening relations with a highly complementary partner like India will help Vietnamese businesses enhance their resilience, diversify markets, and expand their long-term development opportunities.

Vietnam creates favorable conditions for Swiss firm’s long-term investment: Deputy PM

The Vietnamese Government creates favorable conditions for foreign investors, including FS Finance Suisse AG, to operate effectively and sustainably in the country, Deputy Prime Minister Ho Quoc Dung affirmed on May 4.

Receiving Roland Staub, CEO at Switzerland-based FS Finance Suisse AG, in Hanoi, the Deputy PM congratulated the company on its achievements in asset management, strategic investment consulting, the establishment and operation of global investment funds, and advisory services for the development of international financial centres.

He noted that Vietnam–Switzerland relations have continued to develop positively, especially after the two countries announced a “joint declaration on upgrading partnership relations” on the sidelines of the 55th Annual Meeting of the World Economic Forum (WEF) in Davos in January 2025.

By the end of April, Switzerland ranked 20th among 154 countries and territories investing in Vietnam. The Deputy PM stressed the need to promote bilateral cooperation so that Switzerland can become one of Europe’s major investors in Vietnam, with contributions from companies such as FS Finance Suisse AG, reported VNA.

Deputy Prime Minister Ho Quoc Dung (R) and CEO of Switzerland-based FS Finance Suisse AG Roland Staub (Photo: VGP)

For his part, Staub expressed thanks to the Deputy PM and representatives of ministries and sectors for the reception. He outlined the Zurich-based company’s long-term development strategy in Vietnam, focusing on a special segment of the global economy. He said the firm plans to expand investment in tourism to tap into the potential and advantages of localities, helping position Vietnam as an attractive investment destination and a high-quality, internationally recognised tourism hub.

In the immediate term, the company plans to implement projects in the central province of Gia Lai.

The Deputy PM welcomed the firm’s development plan in Gia Lai, noting that its objectives align with Vietnam’s investment strategy. He added that the project is expected to contribute to socio-economic development, create momentum for sustainable growth, and effectively tap the locality’s tourism and service potential.

HCM City welcomes nearly 900 MICE visitors from Indonesia

Ho Chi Minh City has welcomed a delegation of 890 MICE visitors from Allianz Indonesia, marking one of the largest international corporate groups to visit the city so far this year.

The group, traveling from May 1 to 9 and organized by Viking Travel JSC, underscores growing demand for meetings, incentives, conferences and exhibitions (MICE) tourism, a segment increasingly seen as a key driver of the city’s tourism growth.

The visit also reflects early results of new policies aimed at attracting MICE travelers, following the issuance of Resolution 62 by the municipal People’s Council, which introduces support mechanisms for this high-value segment.

A delegation of 890 MICE visitors from Allianz Indonesia is warmly welcomed at Tan Son Nhat International Airport (Photo: cdulichtphcm.vn)

Local authorities organized a range of welcome activities for the MICE delegation, including an official reception at Tan Son Nhat International Airport and personalized welcome messages delivered to guests at their hotels, helping create a strong first impression of the destination.

According to Le Truong Hien Hoa, deputy director of the municipal Department of Tourism, Ho Chi Minh City is positioning MICE tourism as a strategic pillar through 2030.

The strategy targets high-spending markets in Northeast Asia, Southeast Asia and Europe, while developing integrated tourism products that combine accommodation, conferences, sightseeing and shopping.

The city also plans to accelerate digital transformation, improve service quality and strengthen connections across its tourism ecosystem, including travel agencies, hotels, convention centers and transport providers, VOV reported.

In the first quarter of 2026, Ho Chi Minh City recorded 3.9 million international arrivals, meeting 35.45% of its annual target. Domestic visitors totaled 15.4 million, while tourism revenue was estimated at VND150 trillion, or 45.4% of the yearly plan.

These figures highlight the city’s sustained attractiveness as an international destination as global travel continues to rebound.

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