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Vietnamese Prime Minister Pham Minh Chinh during his phone call to Australian Prime Minister Anthony Albanese on May 6. (Photo: VNA)

Vietnam ready for negotiations on a trade deal with Australia

Vietnam is ready to engage with Australia on a bilateral trade and investment agreement to help the two countries soon achieve the target of raising bilateral trade turnover to US$20 billion.

Prime Minister Pham Minh Chinh was speaking during his phone call to Australian Prime Minister Anthony Albanese, congratulating him and the Labour Party on their recent victory in Australia's parliamentary elections.

He praised the robust development of Vietnam–Australia relations and emphasized the importance of continued Australian engagement and prioritization of Southeast Asia, particularly Vietnam, cited VOV.

He expressed appreciation for Australia’s Southeast Asia Economic Strategy, which he believed would foster economic ties between Vietnam and Australia, including raising trade turnover to US$20 billion and doubling mutual investments in the coming time.

Chinh proposed that both countries fully leverage multilateral trade frameworks to overcome shared challenges. He called on the Government of Australia to continue supporting the Vietnamese community living and working in their host country.

Both leaders exchanged views on cooperation in key areas such as trade, ODA, climate change response, and energy transition.

Albanese for his part admired Vietnam’s rapid economic development and reaffirmed Australia’s commitment to deepening the Comprehensive Strategic Partnership with the Southeast Asian nation.

To address current economic and trade challenges, he underscored the need to continue defending a free and open multilateral trading system and to further open markets for each other’s goods and services.

On this occasion, Albanese said that the Governor-General and Australian leaders are looking forward to visiting Vietnam soon. He also agreed that the two countries should maintain exchanges through various channels and levels, especially holding annual high-level meetings between the two Prime Ministers.

Vietnam hosts over 7.67 million international visitors in first 4 months

Vietnam recorded more than 7.67 million international tourist arrivals between January and April, marking a 23.8% increase compared to the same period last year, the Vietnam National Authority of Tourism said on May 6.

China remained the leading source of visitors, with 1.95 million arrivals, accounting for 25.4% of the total. The Republic of Korea followed closely with 1.58 million (20.6%), while other key markets included Taiwan (China) with 440,000, and the US with 323,000. Japan, Cambodia, Australia, India, Malaysia, and Thailand were also among the top ten source markets.

Arrivals from China surged by 56.7% year-on-year, while Japan saw an 18.9% rise. Slight increases were also observed from Taiwan (China) at 5.2%, and the US at 7.2%. In this regard, several Southeast Asian neighbours showed notable growth. The Philippines soared by 98.3%, Cambodia by 79.6%, and Laos by 44.7%. Singapore, however, posted a slight decline of 0.9%.

European markets continued to show steady growth, particularly those benefiting from Vietnam’s unilateral visa exemption policy. The UK saw a 20.7% increase in the number of visitors, followed by France (24.7%), Germany (18.8%), Italy (32.6%), Spain (12.9%), Denmark (12.7%), Sweden (16.3%), and Norway (11.5%). Russia recorded a striking 110.9% rise, making it the largest European source market, with over 166,000 arrivals during the four-month period, according to VNA.

International tourists in Ho Chi Minh City. (Photo: VNA)

Notably, three countries granted short-term visa exemptions from March 1 to December 31 under Vietnam’s tourism stimulus programme this year also saw growing visitor numbers, with Poland up by 48.8%, Switzerland by 16.6%, and the Czech Republic by 1.5%.

The Vietnam National Authority of Tourism plans to carry out seven major international promotional campaigns in 2025, aiming to attract between 22 and 23 million international arrivals this year.

Vietnam attracts US$13.82 billion in FDI in four-month period

Vietnam recorded US$13.82 billion in foreign direct investment (FDI) as of April 30, representing a year-on-year rise of 39.9%, according to the Foreign Investment Agency under the Ministry of Finance.

Foreign financiers registered US$5.59 billion across 1,204 new projects, down 23.8% in capital but up 14.1% in project numbers.

Meanwhile, 540 projects had their capital adjusted with the total amount reaching US$6.4 billion, 3.9 times higher than last year.

The remainder came in the form of capital contributions and share purchases made by foreign investors with 1,106 transactions worth US$1.83 billion, rising twice from the same four-month period in 2024.

Singapore topped the list of 60 countries investing in Vietnam in the reviewed period, injecting roughly US$1.6 billion. It was followed by China with US$1.52 billion and Japan with US$573.2 million.

Throughout the four-month period, around US$6.74 billion worth of FDI was disbursed, up 7.3% from last year, reported VOV.

Photo: VOV

In another development, overseas Vietnamese investment capital in the past four months reached nearly US$309.3 million, representing a 3.1-fold rise year on year.

Of this figure, US$269.2 million was registered for 43 new projects, a figure 2.7 times higher than the same period last year, while US$40.1 million was added to 12 existing projects, representing a 69.1-fold rise.

The majority of overseas investment was channeled into the production and distribution of electricity, gas, hot water, steam, and air conditioning with US$111.2 million, or one third of the total.

Among the leading recipients of Vietnamese investment, Laos topped the list with US$140.6 million. It was followed by Indonesia (US$59.1 million), the Philippines (U$34.3 million), Japan (US$26.1 million), and the British Virgin Islands (US$21 million).

Over 10,000 people pray for peace within framework of Vesak 2025

More than 10,000 people gathered at the Vietnam Buddhist Academy and the Lang Le Cultural Park in Ho Chi Minh City on May 6 evening for a candle-lighting ritual, praying for world peace, as part of the UN Day of Vesak 2025 celebrations.

The event attracted the participation of some 1,200 international delegates from 80 countries and five territories, 800 Vietnamese monks and nuns, about 4,000 young people of Ho Chi Minh City, and local Buddhist followers.

At the event, Minister of Ethnic and Religious Affairs Dao Ngoc Dung expressed his appreciation for the Vietnam Buddhist Sangha (VBS) and monks for dedicating moments of remembrance to over 3 million Vietnamese who laid down their lives defending the country's independence and unity. The ceremony also honored more than 1.2 million fallen heroes, 800,000 wounded veterans, and millions of Vietnamese heroic mothers and families who contributed to the revolution.

The Vietnamese Party and State always respect the freedom of religion, belief, and non-belief of all citizens, he said, adding that Vietnam hopes that the VBS and all people, both religious and non-religious, will continue joining hands to build a prosperous and happy nation, cited VNA.

A view of the May 6 candle-lighting ritual praying for world peace, as part of the UN Day of Vesak 2025 celebrations in HCM City. (Photo: VNA)

The candle-lighting ritual demonstrated Buddhism's value in its global mission, which is to preserve spiritual traditions and actively contribute to international dialogues on peace, human rights, and sustainable development.

Earlier, the VBS held a grand memorial and requiem ceremony for the fallen heroes on the occasion of the 50th anniversary of the liberation of the South and national reunification. This service exemplifies the Buddhist spirit of gratitude and the tradition of national protection that has accompanied Vietnam throughout its 2,000-year history.

Japanese retailers step up business activities in Vietnam

Japanese retailers Aeon and Sumitomo have planned to expand their networks in Vietnam, Nikkei Asia reported on May 5.

Aeon – Japan's largest retail group – plans to increase the number of hypermarkets, also known as "Super Supermarket (SSM)" and general merchandise stores (GMS) in Vietnam from 12 as of February 2025 to about 100 stores by 2030. Another large Japanese group, Sumitomo, also aims o open supermarkets in Vietnam, with about 10 stores per year.

With a population of more than 100 million, with young people making up a high proportion, Vietnam is a consumer market that is expected to grow strongly in Southeast Asia and many foreign companies are developing business platforms in Vietnam.

In January 2025, Aeon opened a GMS in Xuan Thuy street, Hanoi. Located in a developing area with many offices, schools, and a subway station, Aeon Xuan Thuy provides food as well as cosmetics, furniture, clothing, and many other items.

The snack area operated by Aeon alone has an area of 1,620 sq.m, far exceeding the average sales floor area of Japanese supermarkets (about 1,366 sq.m, according to data from the Japan Supermarket Association). The third floor alone has 450 seats for customers to enjoy prepared food.

In addition, Aeon is looking to expand the SSM model – a combination of a food supermarket and a GMS, with a food court and a cosmetics counter. The special thing is that the dishes are very diverse, including sushi, ramen, fried food, bento, and bread, and most of the dishes are prepared right at the store.

By the end of February 2025, Aeon is operating 12 GMS (including three separate SSM) and 36 food supermarkets in Vietnam, reported VNA.

People go shopping at Aeon Mall Binh Duong. (Photo: VNA)

Furusawa Yasuyuki, General Director of Aeon Vietnam, said that to stand on par with Central – a large retail group in Thailand, Aeon aims for 100 GMS and SSM locations by around 2030. Regarding small stores such as food supermarkets, it is also considering expanding to about 200 stores.

Meanwhile, Sumitomo plans to expand its Fuji Mart food supermarket chain – developed through a partnership with Vietnam's BRG Group – from the current 20 to 50 stores by 2028.

The corporation will leverage the know-how of Summit – a food supermarket chain that Sumitomo operates mainly in Tokyo – to operate the stores, with the aim of minimising out-of-stock situation and strictly controlling product freshness.

Fuji Mart President Obama Yuji emphasised that although Fuji Mart is a Japanese chain, it is targeting Vietnamese people. Competing with traditional markets with fresh food, Fuji Mart is differentiating itself from local supermarkets with processed foods and bakery items.

According to Aeon, processed foods and bakery items account for 13% of total food sales at Japanese stores, but in Vietnam, this figure is up to 20%.

At Xuan Thuy supermarket, the proportion of processed foods sold reached nearly 30%, showing that Vietnamese consumers have high expectations for processed foods at Japanese supermarkets.

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