Hanoi (VNA) - Deputy Minister of Industry and Trade Nguyen Hoang Long met with President of Romania's Prahova Chamber of Commerce and Industry Aurelian Nicolae Gogulescu in Hanoi on October 14, during which they discussed strengthening economic and trade cooperation.
Gogulescu highlighted the chamber's long-term collaboration with Vietnam, dating back to 2001, particularly in the oil and gas sector, and education-training.
They acknowledged positive developments in the bilateral trade on the basis of the EU-Vietnam Free Trade Agreement (EVFTA). However, they said, the outcomes have yet to match the potential of both sides.
The two sides agreed to step up cooperation in the areas where they have strengths, such as automobile manufacturing, education-training in the oil and gas sector, high-tech agriculture, and IT.
Vietnam and Romania planned to organise the 18th meeting of their Joint Commission on Economic Cooperation in Romania in 2025 as part of activities celebrating the 75th anniversary of the bilateral diplomatic relations.
Trade between the two countries grew by 37.5% in the first eight months of 2024 to over 350 million USD, according to the Vietnamese Ministry of Industry and Trade.
From 2019 to 2023, the bilateral trade rose more than 1.6🐲5-fold, but it represented only 0.06% of Vietnam’s total trade and 0.2% of Romania’s./.
Vietnam and Romania are working to strengthen cooperation in the labour field and are negotiating to sign a bilateral social insurance agreement covering pension, sickness, and maternity benefits.
Minister of Labour, Invalids and Social Affairs Dao Ngoc Dung on August 13 met with Romanian Ambassador to Vietnam Cristina Romila to discuss labour cooperation between Vietnam and Romania.
Vietnam and Romania have agreed to promote cooperation between the two legislative bodies and continue to coordinate closely and support each other at inter-parliamentary forums.
Prime Minister Pham Minh Chinh affirmed that science, technology, innovation, digital transformation, green transition, and circular economy are offering limitless opportunities for bilateral collaboration.
The US remained Vietnam’s largest market, accounting for 55% of the country's total wood exports. Key products include wooden furniture, plywood, doors, and handicrafts.
With a clear development strategy, proactive investment attraction and strong policy support for sustainable agriculture, Tay Ninh is positioning itself as a major hub for high-tech livestock farming in the southern region.
As Vietnam’s largest private carrier, Vietjet has been awarded the highest ranking for safety with 7 stars by the world’s only safety and product rating website airlineratings.com and listed as one of the world's 50 best airlines for healthy financing and operations by Airfinance Journal in many consecutive years.
The Vietnam National Petroluem Group (Petrolimex) had acted early to mitigate risks amidst the recent surge in global oil prices driven by the Israel–Iran conflict, Vietnam News Agency cited a Petrolimex representative as saying.
In mid-June, the Vietnam Trade Promotion Agency (VIETRADE) at the Ministry of Industry and Trade (MoIT) in collaboration with Alibaba.com announced a list of 200 outstanding businesses selected to participate in the "Vietnam National Pavilion" in 2025.
Vietnamese seafood processing and export enterprises are in the process of completing procedures and adopting necessary technologies to bring their products into the Halal market.
The PM outlined a dual strategy: revitalising traditional growth engines of investment, exports, and consumption, while accelerating breakthroughs in sci-tech, innovation, digital transformation, and green transition.
The complex, covering a total area of 512 ha, is designed after a multi-functional model, prioritising the preservation of natural landscapes, honouring local beauty, and creating an ideal living area.
He requested delegates to provide objective and honest feedback on what has been achieved, what has not, the consequences, and draw lessons learned for the future. He also emphasised the need to identify key directions and tasks, with a firm resolve to prevent, and eventually eliminate the trafficking of counterfeit medicines and fake food products.
The Ministry of Finance is drafting policies to establish specialised AI and smart industrial parks to raise the technological profile of FDI projects and create spillover effects for local businesses.
Vietnam ranked as the 8th largest export market of Singapore with an export turnover of more than 11.7 billion SGD (9.06 billion USD) in the first five months of this year, four places higher than that of the same period last year.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
