Vietnam expands global diplomatic and economic ties

Vietnam is actively expanding its international diplomatic and economic footprint through high-level visits and strengthening strategic partnerships. General Secretary and President To Lam is scheduled to visit France and Russia, aiming to deepen the Comprehensive Strategic Partnership with France and reinforce ties with Russia.

Economic relations show significant movement across several regions. Trade between Vietnam and South Korea has seen rapid growth, with bilateral turnover reaching approximately 70 billion USD in the first seven months of 2026, a 41% increase year-on-year. Meanwhile, trade with Russia reached 3.2 billion USD in the first seven months of 2026, with Vietnam playing a key role in the Russia-ASEAN economic relationship.

Domestically, the Vietnamese economy faces structural shifts. The packaging and printing industry is undergoing a technological transition toward AI, RFID, and green automation to escape low-margin manufacturing traps. Additionally, the government bond market has remained relatively stable compared to global trends, largely due to high domestic ownership by local banks and insurance institutions.