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Prime Minister Pham Minh Chinh presides over the Cabinet meeting in Hanoi, November 8, 2025. Photo: VGP

Vietnam expects to sign trade deals with Mercosur, GCC in 2025

Vietnam expects to sign free trade agreements with the Southern Common Market (MERCOSUR) and the Gulf Cooperation Council (GCC) in 2025, said Prime Minister Pham Minh Chinh.

The Prime Minister made the above statement while addressing the Cabinet meeting in Hanoi on Saturday.

The Government chief urged inferior levels to carry out large-scaled, high-quality trade promotion programs in key markets such as the EU, the U.S., Japan and South Korea.

The above moves reflect the country's efforts to diversify trade relations in a bid to achieve the growth goal of at least 8 percent in 2025 and double-digit growth in the years beyond.

The Vietnamese economy expanded 8.22 percent in July-September period compared to 7.96 percent in second quarter and 6.93 percent in the first quarter, indicating strong growth momentum despite adverse weather conditions. To achieve the whole-year goal, the economy needs to grow 8.4 percent in the fourth quarter.

Many international organizations have revised up their growth projections for Vietnam in 2025. In October, Standard Chartered Bank raised its forecast for Vietnam's 2025 growth to 7.5 percent from 6.1 percent at the end of July and 7.2 percent for 2026.

Singapore-based UOB Bank upgraded its 2025 growth forecast to 7.5 percent from 6.9 percent earlier, while the Asian Development Bank (ADB) increased its growth projection to 6.7 percent for Vietnam in this year, cited VGP.

In its latest report, HSBC raised its 2025 gross domestic product growth forecast for Vietnam to 7.9 percent, from its previous prediction of 6.6 percent.

"While exports from other ASEAN countries to the U.S. have experienced a slight decline as the impact of earlier frontloading activities fades, Vietnam's trade performance has remained strong with double-digit growth. Even more encouragingly, Vietnam's retained trade surplus has more than doubled to US$3 billion in the third quarter compared with the first half of 2025," HSBC said.

According to the National Statistics Office, Vietnam's trade with the rest of the world increased by 17.4 percent to over US$762.4 billion in the first ten months this year. Of this figure, export value rose by 16.2 percent to USE$391 billion.

Foreign direct investment inflows reach US$31.5 billion, up 15.6 percent against the same period last year while the disbursed volume was estimated to reach five-year high of at US$21.3 billion.

Vietnam welcomed 1.73 million international visitors in October — the highest figure ever for a single month, raising the total number of foreign arrivals to more than 17.2 million, a year-on-year increase of 21.5 percent.

Vietnam – Japan economic cooperation boosted at Fukuoka seminar

A seminar took place in Fukuoka on November 7 with a view to sharing information and promoting business expansion into Vietnam among Japanese enterprises in the Kyushu region.

The event was jointly organised by the Consulate General of Vietnam in Fukuoka, the Fukuoka and Kumamoto Chambers of Commerce and Industry, Vietnam’s Newtatco company, and Japan’s Business Support World company. It saw the presence of over 150 representatives from economic associations, enterprises, academia, and training institutions in Japan.

Speaking at the event, Vietnamese Consul General Vu Chi Mai stressed that the seminar sought to enhance networking and investment cooperation between the two countries, particularly as Vietnam pursues market expansion and sustainable economic growth.

She noted that Vietnam’s recent administrative apparatus streamlining efforts are poised to create a more efficient and transparent environment for both domestic and foreign enterprises, including those from Japan.

Beppu Michiyo, Advisor of the Fukuoka Chamber of Commerce and Industry and Chairwoman of Business Support World, and Nguyen Huy Ha, Deputy Director of Newtatco’s International Cooperation Centre, provided insights into Asian economic trends and Vietnam’s investment cooperation prospects. They highlighted Vietnam’s stable political environment, young workforce, robust growth rate, and favorable investment policies.

Beppu described Vietnam as an emerging manufacturing hub and vibrant consumer market in Southeast Asia, as well as a trusted partner of Japan in the global supply chain, according to VNA.

Vietnamese Consul General in Fukuoka Vu Chi Mai speaks at the seminar on November 7. (Photo: VNA)

Ha focused on the rise of digital transformation, e-commerce, and innovation, identifying these as promising areas for collaboration between Vietnamese and Japanese firms.

Chairman of the Kumamoto Chamber of Commerce and Industry Aiichiro Ryuu emphassed that economic ties between Japan, particularly Kyushu, and Vietnam are developing strongly and substantively. He praised the Consulate General’s role in fostering connections between the two sides' businesses and expressed confidence that through such seminars, Kyushu companies will find new partnership opportunities, contributing to sustainable growth in both countries.

During discussions, Japanese enterprises raised practical questions about investment procedures, licensing timelines, and incentive policies for foreign investors.

The seminar provided an open platform for dialogue and experience-sharing, helping businesses explore cooperation demand and potential entry into Vietnam’s growing market.

This event formed part of the 2025 economic diplomacy activities led by the Vietnamese Consulate General in Fukuoka to help further deepen Vietnam – Japan relations.

Vietnam attracts $11.6bil. in foreign investment for semiconductor sector

Vietnam is fast becoming a strategic semiconductor hub with over 170 foreign-invested projects totaling nearly $11.6 billion.

Vietnam currently hosts over 170 foreign-invested semiconductor projects with a total registered capital approaching $11.6 billion, according to Deputy Minister of Science and Technology Bui Hoang Phuong.

The information was shared during the opening ceremony of SEMI EXPO Vietnam 2025, the country’s largest semiconductor and electronics exhibition, held on November 7.

The event brought together global technology corporations, government agencies, academics, and industry experts, marking Vietnam’s growing presence in the international semiconductor arena.

Vietnam emerges as a strategic hub for leading chipmakers

Deputy Minister Bui Hoang Phuong emphasized that the semiconductor industry is a strategic technology sector, playing a pivotal role in enhancing competitiveness, driving economic growth, and asserting national strength.

Vietnam's semiconductor industry currently includes over 170 foreign-invested projects, involving around 60 design firms, eight packaging and testing projects, and roughly 20 enterprises supplying materials and equipment.

According to Deputy Minister of Finance Nguyen Duc Tam, major tech players like Samsung, Intel, Amkor, Foxconn, and Hana Micron continue to expand operations in Vietnam, citing cost-effectiveness, productivity, and high-quality output as key factors.

Global giants such as NVIDIA, Qualcomm, Coherent, and Marvell have also chosen Vietnam as a strategic base for semiconductor R&D, manufacturing, and supply chain expansion, VNN reported.

Deputy Minister of Science and Technology Bui Hoang Phuong outlines Vietnam’s semiconductor development strategy. Photo: Organizing Committee.

“These achievements reflect global investor confidence and highlight Vietnam's strategic leap toward knowledge-based growth, innovation, and international collaboration,” Tam noted.

Linda Tan, President of SEMI Southeast Asia, praised Vietnam’s continuous policy updates, infrastructure improvements, and investment in human capital, which have helped build a dynamic and robust semiconductor ecosystem.

This year’s SEMI EXPO Vietnam welcomed over 250 exhibition booths from 19 different global regions, demonstrating strong international interest.

Vietnam’s four core strategies for semiconductor development

Vietnam aims not only to participate in the global semiconductor value chain but also to build a competitive, advanced, and appealing semiconductor ecosystem that supports national autonomy and sustainable development.

Despite current challenges such as limited high-tech human resources, an underdeveloped ecosystem, and modest domestic demand, Vietnam benefits from geopolitical advantages, deep international integration, double-digit growth in electronics exports, a young population, legal and policy flexibility, and strong political will from the highest leadership levels.

According to Deputy Minister Phuong, political will is perhaps Vietnam’s strongest asset in advancing its semiconductor ambitions. The government has approved a strategy to develop the semiconductor industry through 2030, with a vision to 2050, built on the formula: C = SET +1.

Here, “C” stands for “Chip,” structured around three pillars:

S – Specialized chips,

E – Electronics industry,

T – Talent.

The “+1” symbolizes foreign investment, seen as a key driver in elevating Vietnam’s position in the global supply chain.

Phuong elaborated on four core guiding principles for this strategy:

First, mobilize resources and introduce special incentives to support research, design, and production of specialized chips for sustainable development across electronics, IoT, and other sectors.

Second, integrate semiconductor advancement with the broader electronics and digital transformation landscape, positioning it within Vietnam’s national industrial development framework.

Third, prioritize investment in high-quality human resources. Vietnam aims to become a global semiconductor talent hub, establishing major laboratories and specialized university programs backed by supportive policies.

Finally, Vietnam will leverage its geopolitical position and strategic partnerships to become a new destination in global supply chain diversification.

Vietnam’s private sector joins the global race

From the business side, Nguyen Cuong Hoang, Director of the Viettel Semiconductor Center, said the company has followed the SET +1 model since 2017.

Viettel focuses on developing specialized chips for telecommunications and finance, viewing the broader electronics sector as a springboard for semiconductor commercialization.

On talent development, Viettel aims to build a domestic IT workforce and cultivate 10 world-class experts. In terms of foreign investment, Viettel leverages Vietnam’s geopolitical role to attract global partnerships in the semiconductor supply chain.

Hoang also revealed Viettel’s plan to establish Vietnam’s first high-tech semiconductor manufacturing plant dedicated to chip design and electronic device production.

This initiative is a cornerstone of Vietnam’s National Semiconductor Development Strategy through 2030, aiming to complete the domestic value chain.

“The plant will stimulate industries from science and technology to education and training. It will serve as a nucleus for chip design development, targeting 100 design firms and 15,000 engineers by 2030,” Hoang stated.

Slovak Culture Day celebrated in Ho Chi Minh City

The Slovak Culture Day was held in Ho Chi Minh City on November 8, marking 75 years of diplomatic relations between Vietnam and Slovakia (1950–2025).

The event brought together Marian Veres, Chargé d’Affaires a.i. of Slovakia in Vietnam; Ha Thanh, Chairwoman of the HCM City Union of Friendship Organisations; Ho Huy, Honorary Consul of Slovakia in HCM City; members of the city's Vietnam – Slovakia Friendship Association; and representatives of local people.

Highlights included an exhibition titled "Party in the 21st Century", featuring 58 works blending photography, painting, and ethnography to showcase traditional Slovak “Party” headpieces worn by unmarried women and brides in the 19th–20th centuries, VNA reported.

Delegates at the Slovak Culture Day in Ho Chi Minh City on November 8 (Photo: VNA)

Attendees also met the exhibition’s creators, photographers Zuzana Senasiova, Cubomir Sabo, and ethnologist Katrina Sabova. This was the 80th international showing of the exhibition, which has attracted about 2 million visitors worldwide.

The program also featured a multimedia concert Andy Warhol – Songs of Mother Julia by Slovak opera artist Igor Kucer.

Marian Veres emphasised that the event aimed to introduce Slovak cultural traditions to the Vietnamese public and strengthen friendship and understanding between the two nations.

The Slovak Embassy previously hosted the Slovak Culture Day in Hanoi on November 6, drawing strong public interest.

Foreign arrivals reach new record high in October

Vietnam welcomed 1.73 million international visitors in October — the highest figure ever for the month, according to the National Statistics Office.

From January to October, foreign arrivals totaled more than 17.2 million, a year-on-year increase of 21.5 percent. Air travel remained the dominant mode of entry, with 14.6 million visitors (84.9 percent), followed by 2.4 million by land (13.9 percent) and over 205,000 by sea (1.2 percent).

Asia continued to be the largest source market, with 13.6 million visitors, up 21 percent against the same period last year. China and South Korea led the way, with 4.3 million (25.2 percent) and 3.6 million (21 percent) visitors, respectively.

Europe ranked second with 2.13 million visitors, marking a sharp growth of 34.9 percent on year, cited VGP.

The surge in international arrivals has significantly boosted tourism revenue. In the first ten months of 2025, Vietnam's travel and tourism sector earned an estimated VND77.4 trillion (US$2.94 billion), up 19.8 percent year-on-year. Accommodation and food service revenue also rose 14.6 percent to VND695.1 trillion (US$26.4 billion).

Major destinations such as Hanoi, Ho Chi Minh City, Quang Ninh, Khanh Hoa, and Phu Quoc reported steady growth in international arrivals. To encourage longer stays and higher spending, new destinations and tourism products — including experiential, green, and cultural offerings — have been strategically developed nationwide.

The tourism industry aims to attract 22–23 million international visitors this year.

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