Speaking at the Vietnam-Estonia business forum in Tallinn on June 6, during his official visit to Estonia, the Vietnamese Government chief noted that his earlier discussions with Estonian PM Kristen Michal were highly successful. Both sides agreed to augment cooperation across multiple areas, with a particular focus on reinforcing political relations as a foundation for expanding economic ties.

Providing an overview of Vietnam’s current development, Chinh highlighted the country’s strategic breakthroughs in institutional reform, infrastructure, and human resource development. He also emphasized Vietnam’s transition from a passive, bureaucratic model to a proactive, service-oriented approach, aiming to become a high-income developed nation by 2045. In the near term, Vietnam targets GDP growth exceeding 8% in 2025, with double-digit expansion in the following years.

PM Chinh urged businesses from both countries to deepen ties, listen to each other, harmonize  their visions and actions, and work together for shared success, happiness, and pride.

He called on Estonian companies to support and collaborate with the Vietnamese government and enterprises to increase investment in sectors with mutual potential. He also advocated for proactive, innovative, and modern cooperation strategies that are diverse, transparent, and sustainable.

Reaffirming Vietnam’s commitment to creating favourable conditions for all investors, the cabinet leader pledged continued government support for successful, long-term, and sustainable foreign investment in the country.

He said he hopes that businesses from both nations will thrive in each other’s markets, contributing to the socio-economic development of Vietnam and Estonia, as well as to peace, stability, and prosperity in their respective regions and beyond.

At the forum, leaders from ministries, sectors, business associations, and companies of both countries presented their strengths and investment priorities while exchanging ideas to bolster economic, trade, and investment cooperation.

Despite the positive momentum in Vietnam–Estonia relations, participants noted that bilateral trade remains modest, standing at only US$73.8 million in 2024. Currently, 35 Estonian companies operate in Vietnam, with five valid direct investment projects totaling US$280,000.

Delegates agreed that Vietnam, situated in a dynamic, fast-growing economic region, and Estonia, a global leader in digital transformation, are well positioned to complement each other. Both sides expressed readiness to act as gateways to their respective regional markets.

Recognizing the critical role of businesses in ramping up bilateral cooperation, delegates committed to enhancing connectivity by launching business delegations to capitalize on mutual investment opportunities, especially in science, technology, digital transformation, energy, and aviation.

PM’s official visit to Estonia to foster bilateral multifaceted cooperation

Prime Minister Pham Minh Chinh’s official visit to Estonia from June 5 - 7, the first-ever by a Vietnamese Government leader since the two nations established diplomatic ties in 1992, is expected to foster the friendship and multi-faceted cooperation between the two countries.

Vietnam, Estonia look to deepen multifaceted cooperation

Deputy Minister of Foreign Affairs Le Thi Thu Hang paid a working visit to Estonia on May 27-28, during which she held a series of meetings with senior officials from the Estonian Ministry of Foreign Affairs and other relevant agencies to bolster bilateral cooperation.