Diplomatic sector to increase support for economic ties expansion
The diplomatic sector will continue fostering political relations to provide optimal conditions for the development of economic-trade ties, Deputy PM and Foreign Minister Pham Binh Minh has said.
Deputy Prime Minister and Foreign Minister Pham Binh Minh (Photo: VNA)
Hanoi (VNA)💝 – The diplomatic sector will continue fostering political relations to provide optimal conditions for the development of economic-trade ties, Deputy Prime Minister and Foreign Minister Pham Binh Minh has said.
In the TV programme “People ask, Ministers answer” aired on January 3, he said economic diplomacy is one of the three pillars of diplomacy, alongside political and cultural diplomacy.
The foreign ministry and its overseas representative agencies have actively supported enterprises and localities in promoting relations with partners and countries through investment and trade forums.
He cited the ministry’s assistance to the military-run telecommunication group Viettel to invest in many countries, including African nations, as an example, adding that high-ranking leaders’ visits to foreign countries were also chances for Vietnamese firms to advertise their products.
Political connections will be strengthened in 2016 so as to facilitate economic-trade relations, attract foreign investment and official development assistance (ODA), and encourage other nations’ opening of their markets, Minh stressed.
He added that his ministry will also support businesses in exploring cooperation opportunities with foreign partners.
With regard to the ASEAN Community, which officially took shape on December 31, 2015, the official said the biggest opportunity to be created is a peaceful and stable environment and a common economic and trade area with a single production base.
All people, regardless of producers or consumers, can benefit from a common market with a 625 million-strong population and a combined annual GDP of 2.6 trillion USD.
However, big chances are accompanied by numerous challenges and fierce competition, he noted, underlining people and enterprises’ insufficient awareness of the ASEAN Community, which could expose Vietnam to a risk of missing the opportunities.-VNA
Vietnam has greatly contributed to the successes of the Association of Southeast Asian Nations (ASEAN) since it joined the 10-nation group two decades ago.
Multilateral diplomacy deserves to have a higher place among priorities of Vietnam’s foreign policy in the coming time, said Deputy Prime Minister and Foreign Minister Pham Binh Minh.
Fierce competition looms large on the domestic market when more and more free trade agreements (FTAs) come into effect, said Deputy Prime Minister Hoang Trung Hai on December 29.
Prime Minister Nguyen Tan Dung has hailed the formation of the ASEAN Community as a historic milestone in the regional connectivity process in Southeast Asia.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
Deputy Prime Minister and Foreign Minister Pham Binh Minh (Photo: VNA)
