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| Party General Secretary To Lam addresses the Vietnam–Kazakhstan Business Roundtable in Astana on May 6__Photo: VNA |
Party General Secretary To Lam has affirmed Vietnam’s strong commitment to creating favorable conditions for Kazakhs investors to do business successfully in Vietnam.
Addressing a Vietnam–Kazakhstan Business Roundtable in Astana on May 6 as part of his ongoing state visit to Kazakhstan, the Vietnamese Party leader emphasized that the success of Kazakhstani enterprises will also be regarded as Vietnam’s success and a source of pride.
He expressed his hope that the business communities of both countries will leverage their respective strengths to build and integrate value chains, fostering stronger links between the two nations and connecting to global markets. This, he noted, will open up new opportunities for enhanced trade and investment cooperation in the near future.
Since the Vietnam – Eurasian Economic Union Free Trade Agreement (VN – EAEU FTA) took effect in 2016, trade between the two countries has grown steadily, according to the Vietnamese Ministry of Industry and Trade (MoIT).
From 2017 to 2021, bilateral trade swelled 28 percent on annual average. In 2024, it reached USD 479.1 million, a 19.2 percent increase from the previous year. Vietnam’s exports, including phones and components, computers and electronics, machinery and spare parts, fruits and vegetables, cashew nuts, footwear, and apparel, totaled USD 408.18 million, up 4.4 percent.
Imports from Kazakhstan, including steel, wheat, and cotton, soared to USD 70.88 million, a striking 556.6 percent surge.
Investment, however, lags behind trade. Kazakhstan has invested in six projects worth USD 560,000 in Vietnam, ranking 111th among 147 countries and territories investing here. Vietnam, for its part, has yet to launch any investments in Kazakhstan.- (VNA/VLLF)
