Economic diplomacy to support growth target of 8.3 - 8.5% in 2025: PM

Prime Minister Pham Minh Chinh on July 22 chaired a conference with heads of Vietnam’s overseas diplomatic missions to strengthen economic diplomacy in pursuit of the country’s growth target for the second half and to lay a foundation for double-digit growth in the following period.

Held in a hybrid format, the conference connected the Government headquarters in Hanoi with 94 overseas missions and 34 provincial and municipal People’s Committees. Deputy PM and Minister of Foreign Affairs Bui Thanh Son co-chaired the event.

The conference heard that in the first six months of 2025, Vietnam conducted nearly 50 major external activities led by key leaders, upgraded ties with 10 countries, and signed 253 cooperation agreements, doubling the number in 2024. Economic, trade, investment, and science-technology cooperation were the key focuses.

Overseas Vietnamese missions carried out nearly 300 economic diplomacy events, including trade, investment, and tourism promotion activities. They supported localities in organising over 150 promotion activities both at home and abroad, and helped facilitate 30 agreements between Vietnamese localities and international partners.

As a result, Vietnam’s GDP growth reached 7.52% in the first half, the highest in 15 years, topping ASEAN and ranking among the world's leading performers. Macroeconomic stability was maintained, inflation remained under control, and key balances were preserved. Exports increased, with a trade surplus of over 7.6 billion USD. Registered FDI reached 21.5 billion USD, up 32.6% year-on-year, the highest in 15 years, while FDI disbursement rose 8.1% to 11.7 billion USD. International tourism was another bright spot, with the number of foreign tourists increasing 20.7% year on year.
Vietnamese ambassadors and heads of overseas missions pledged to maintain practical and effective diplomatic efforts, focusing on economic, trade, investment, scientific and technological cooperation, and innovation, aiming to help the country adapt effectively to global shifts and contribute to national growth and economic restructuring.
Leaders of ministries, sectors, localities, and business associations urged the missions to continue acting as strong bridges, providing market information and expanding cooperation opportunities. They also called for further promotion of Vietnam’s image, people, and investment potential abroad.

Minister of Industry and Trade Nguyen Hong Dien speaks at the event. (Photo: VNA)

In his concluding remarks, PM Chinh affirmed that foreign affairs were a highlight in Vietnam’s achievements in the first half of 2025, partly thanks to the contributions of the diplomatic missions.

PM Chinh instructed overseas missions to closely monitor local developments, deliver timely strategic advice, and help ensure the Party and State are well-prepared to handle foreign affairs challenges, aiming to foster a stable and cooperative environment for achieving the national growth target of 8.3 8.5% in 2025.

They were requested to uphold Vietnam’s foreign policy of independence, self-reliance, multilateralisation and diversification, affirming the country’s commitment to being a reliable partner and a responsible member of the international community, and building a resilient, globally integrated economy through proactive restructuring and diversification of markets, products, and supply chains.

The PM underscored economic diplomacy as central to Vietnam’s foreign affairs, in line with directions from Party General Secretary To Lam. He called for stronger global connectivity, linking Vietnamese enterprises with international partners, advancing new free trade agreements (FTAs), and attracting skilled talent and training high-quality human resources. He also encouraged greater engagement with overseas Vietnamese experts, especially those in science, technology and innovation, to support national modernisation.

The Government leader asked for efforts in deepening ties with neighbours, major powers and strategic partners in a deep, stable, practical and sustainable manner, built on trust and shared interests. He urged innovative solutions to address challenges in bilateral relations and the effective coordination of high-level diplomatic events through flexible, multi-level engagement.

He also urged continued efforts to drive growth by revitalising traditional growth engines while vigorously developing new ones. This includes promoting outbound and inbound investment, and collaboration in science and technology, innovation, digital transformation, high-tech industries, semiconductors, artificial intelligence, cloud computing and the Internet of Things (IoT).

He emphasised expanding export markets, leveraging signed free trade agreements (FTAs) and finalising new ones with potential markets such as the Middle East, Africa, Latin America, Central Asia, India and Brazil, and supporting businesses in key industries such as electronics, automobiles, textiles and machinery in boosting exports and integrating into global supply chains.

The PM called for swift implementation of National Assembly Resolution No. 222/2025/QH15 on developing an international financial centre in Vietnam, noting interest from the UAE and Kazakhstan to share expertise.

He asked for action on recent Politburo resolutions on science, technology, innovation and digital transformation, and the removal of barriers to foreign investment projects. The PM also stressed the need to support localities and businesses in removing obstacles to foreign investment projects and partnerships both at home and abroad.

The Government leader directed the Ministry of Foreign Affairs to lead the drafting of a National Assembly resolution on special mechanisms to implement the Politburo's Resolution 59 on proactive and comprehensive international integration.

He agreed to consider the establishment of sectoral and thematic research centres, while urging further efforts to have the EU’s IUU yellow card on Vietnam’s seafood exports lifted. He called for the conclusion of FTA negotiations with MERCOSUR and the acceleration of railway connectivity projects between Vietnam and China.

While acknowledging that the 8.3 8.5% growth target for 2025 poses a significant challenge, PM Chinh emphasised that it is achievable. He urged ministries, sectors, localities, businesses, associations and overseas missions to coordinate closely and overcome difficulties to effectively advance economic diplomacy, laying the groundwork for Vietnam to confidently enter a new era of development.