Afternoon Briefing: Key Developments and Initiatives in Vietnam

On March 5, Prime Minister Pham Minh Chinh urged ministries to prepare for administrative restructuring while aiming for an 8% GDP growth. Vietnam will assist Laos in forming a UN peacekeeping force and commemorated WWII’s end at the UN. The Vietship 2025 exhibition in Hanoi aims to sign contracts worth $60 million, while FDI surged in early 2025. Additionally, initiatives to improve the business environment and tourism in Da Nang were announced.

On March 5, during a regular Government meeting, Prime Minister Pham Minh Chinh called on ministries and provinces to streamline their administrative structures in preparation for upcoming administrative restructuring. He emphasized the importance of ensuring macroeconomic stability and promoting growth to meet the ambitious target of achieving an 8% GDP growth rate by 2025, urging for collective effort in this endeavor.

In other news, Vietnam pledged its support for Laos in the establishment of a United Nations peacekeeping force, following discussions between top military officials from both nations. General Nguyen Tan Cuong of the Vietnam People’s Army and Lieutenant General Saichay Kommasith of the Lao People’s Army explored areas for enhancing defense cooperation during their talks in Hanoi.

On March 4, the United Nations General Assembly adopted a resolution commemorating the 80th anniversary of the end of World War II, co-authored by Vietnam. This resolution not only honors the suffering caused by the war but also underlines its significance in the founding of the UN, emphasizing the need for peaceful solutions in global conflicts.

The 10th International Exhibition on Shipbuilding and Offshore Technology, known as Vietship 2025, launched in Hanoi on March 5 with expectations to secure contracts valued at up to 60 million USD. Featuring over 200 booths and participation from more than 100 exhibitors from renowned maritime nations, the event aims to showcase advancements in the shipbuilding industry.

Foreign direct investment (FDI) in Vietnam reached 6.9 billion USD in the first two months of 2025, reflecting a substantial year-on-year increase of 35.5%. Disbursement of FDI stood at approximately 2.95 billion USD during this period, marking a 5.4% rise from the previous year, as reported by the Foreign Investment Agency.

To improve Vietnam’s business environment, Party General Secretary To Lam directed the reduction of administrative procedures by at least 30% and the elimination of unnecessary business conditions. This initiative seeks to position Vietnam among the top three countries in ASEAN for attracting investment within the next few years.

HawaExpo 2025 commenced on March 4 in Ho Chi Minh City’s Thu Duc City, presenting various furniture and wooden products manufactured in Vietnam for export. This event not only promotes sales but also highlights Vietnam’s cultural heritage through creative displays, uniting prominent domestic brands in the industry.

Cuban Minister of Domestic Trade Betsy Diaz Velazquez expressed keen interest in collaborating with Vietnamese businesses during a meeting with Ambassador Le Quang Long. She emphasized Cuba’s commitment to offering favorable conditions for Vietnamese investors to establish joint ventures that cater to local market needs.

Da Nang City has launched a tourism stimulus program for 2025, themed “Enjoy Da Nang 2025 – Diverse Experience.” The initiative includes service discounts and events aimed at drawing visitors throughout the year, with an additional campaign designed to encourage international tourists to return to the coastal city.

The events of March 5 demonstrated Vietnam’s active engagement in regional cooperation, economic development, and national initiatives. From strengthening diplomatic relations with Laos to showcasing advancements in shipbuilding and tourism, Vietnam is committed to fostering growth and stability. The government’s push for organizational improvements and favorable investment conditions reflects a strategic focus on enhancing the country’s economic landscape. Furthermore, Vietnam’s involvement in international dialogues, such as supporting the UN peacekeeping efforts and commemorating the end of WWII, underscores its dedication to global peace and collaboration.

Original Source: en.vietnamplus.vn