Vietnam news in brief - May 7 

Vietnam explores financial cooperation with Central Asia

Party General Secretary To Lam expressed Vietnam's interest in deepening financial and investment ties with Central Asia during his visit to the Astana International Financial Center (AIFC) on May 7. The visit signals opportunities for bilateral cooperation in fintech, capital markets, and regional integration through Kazakhstan's financial hub.

Prime Minister urges stronger trade with Australia

During a telephone conversation with Australian Prime Minister Anthony Albanese on May 6, following the Labor Party's victory in the federal election on May 3, Prime Minister Pham Minh Chinh called for increasing bilateral trade between Vietnam and Australia to US$20 billion and doubling two-way investment. Both leaders agreed to strengthen multilateral cooperation, promote open markets and uphold free trade. Prime Minister Albanese also expressed his intention to visit Vietnam soon and maintain annual high-level exchanges.

Ho Chi Minh City records highest industrial growth rate in four years

In the first four months of 2025, Ho Chi Minh City's industrial production index rose 7.9%, with the overall industrial sector up 10.8%, the highest first four-month growth in four years. Printing, rubber, and electrical equipment were the main contributors. Despite challenges such as labor shortages and trade barriers, businesses are encouraged to take advantage of free trade agreements (FTAs), go green, innovate, and connect to global supply chains through circular economy models.

Vietnam’s trade hit $276.89 billion

Vietnam’s total import-export turnover from January to April reached $276.89 billion, up 15.7% year-on-year. Exports totaled $140.34 billion, up 13%, while imports rose to 18.6%. Processed industrial goods made up 88.2% of exports while production materials accounted for 93.9% of imports.

Hoa Binh clears unexploded ordnance near hydropower plant

From May 6 to June 6, the northern province of Hoa Binh will conduct ordnance clearance operations downstream of the Hoa Binh Hydropower Plant to reduce bomb-related accidents and ensure public safety. Hoa Binh authorities have mobilized 50 soldiers, prepared equipment and traffic plans, and launched awareness campaigns for ethnic communities and schoolchildren in high-risk areas. Half a century after the war, 6.1 million hectares, or 18.71% of the country's territory, remains contaminated with explosives.

 Sixteen sets of remains of Vietnamese soldiers repatriated from Laos

Vietnam received 16 sets of remains of volunteer soldiers and experts from Laos during a handover ceremony in the neighboring country's Champasak province on May 7. The event demonstrated the special solidarity between the two countries. Vietnamese officials from the Central Highlands province of Kon Tum thanked Lao authorities for their support in the search and repatriation mission during the 2024-2025 dry season.

Thirty Vietnamese firms promote building materials in Sydney

Vietnam participated in the Sydney Build Expo 2025 on May 7-8 with 30 booths of leading construction companies, attracting great interest, highlighting Vietnam's innovative construction materials, and strengthening trade relations with Australia and global partners.