March 5 marked significant developments in Vietnam, including PM Chinh’s call for GDP growth initiatives, a defense cooperation agreement with Laos, a UN resolution commemorating WWII, and a large international shipbuilding exhibition. Foreign direct investment increased notably, and efforts to enhance the business environment and tourism were outlined.
On March 5, Prime Minister Pham Minh Chinh called for continued streamlining of Vietnam’s organizational apparatus and preparation for administrative restructuring, reinforcing macroeconomic stability, boosting growth, and enhancing competitiveness. Emphasizing the need for concerted efforts, he highlighted the challenge of achieving a minimum GDP growth rate of 8% by 2025.
In a bilateral defense agreement, Vietnam committed to assisting Laos in developing its UN peacekeeping force, following discussions between General Nguyen Tan Cuong and Lieutenant General Saichay Kommasith. Both parties identified key areas of future collaboration to strengthen their military cooperation.
The UN General Assembly recently adopted a resolution co-sponsored by Vietnam to commemorate the 80th anniversary of the end of World War II. The document honors history while urging nations to promote peace and prevent conflict through dialogue and adherence to the UN Charter.
The 10th International Exhibition on Shipbuilding and Offshore Technology, Vietship 2025, opened in Hanoi, anticipated to secure contracts worth up to $60 million. The exhibition, featuring over 200 booths from domestic and international exhibitors, aims to showcase advancements in the maritime sector.
Foreign Direct Investment (FDI) in Vietnam surged by 35.5% to over $6.9 billion in January and February 2025, with disbursement reaching approximately $2.95 billion, up 5.4% from the previous year. This reflects growing investor confidence in the country’s business environment.
Party General Secretary To Lam directed that at least 30% of time and costs related to administrative procedures be reduced, with a goal of positioning Vietnam among the top three ASEAN investment environments in the next two to three years.
The HawaExpo 2025, showcasing Vietnamese-made furniture and wooden products, commenced in Thu Duc city, Ho Chi Minh City. This trade fair celebrates Vietnam’s cultural heritage while prioritizing a platform for domestic brands in home décor and accessories.
Cuban Minister Betsy Diaz Velazquez expressed eagerness to develop joint ventures with Vietnam in manufacturing and trade to meet domestic needs. Her meeting with Vietnamese Ambassador Le Quang Long highlighted Cuba’s commitment to facilitate investments from Vietnam.
Da Nang city unveiled its “Enjoy Da Nang 2025 – Diverse Experience” tourism stimulus program to attract visitors with a range of events and incentives throughout the year, complemented by initiatives like “I Love Da Nang” targeting international tourists.
The briefing from March 5 highlights Vietnam’s strategic initiatives aimed at bolstering economic growth, international cooperation, and enhancing global partnerships. Key areas of focus include GDP growth targets, defense collaborations with Laos, crucial international agreements, and substantial investments in technology and tourism. The commitment to streamlining administrative processes further demonstrates Vietnam’s intent to create a favorable business environment.
Original Source: en.vietnamplus.vn
