Vietnam always attaches importance to and wants to develop the Vietnam - Indonesia strategic partnership to a new height, National Assembly Chairman Tran Thanh Man said while receiving Deputy Speaker of the Indonesian Regional Representative Council (upper house) H. Mahyudin in Hanoi on June 12.
Vietnam’s economic renovation of the mid-1980s signalled the country’s opening up to foreign investment. While some of the world has only recently realised Vietnam’s potential, Thai companies were among the early investors.
The Philippines, one of the world's largest rice buyers and largest customers of Vietnamese rice, announced a reduction in import taxes from 35 per cent to 15 per cent, effective immediately until 2028.
Malaysian Prime Minister Anwar Ibrahim has affirmed that this country and Singapore will coordinate to ensure that the Association of Southeast Asian Nations (ASEAN) operates effectively, focusing on responding to new challenges.
The leader stated Việt Nam hopes to step up and expand joint work with each ASEAN member country within the framework of bilateral cooperation, especially in potential areas to meet development needs and for mutual benefits and prosperity of the sides involved.
In a key shift in global trade dynamics, the Association of Southeast Asian Nations (ASEAN) saw its exports to the United States surpass those to China for the first time in six quarters.
Vietnam was the fastest-growing digital economy in ASEAN in 2023, and with its potential it is on the road to becoming the second-largest by 2030, said the Hong Kong and Shanghai Banking Corporation (HSBC) in its recent report “Vietnam at a glance.”
The gross domestic product (GDP) growth of six ASEAN countries - Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam - will recover to 4.5% and 4.7% in 2024 and 2025, respectively, from 4% in 2023, according to Maybank Research Pte Ltd forecast.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
