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Saturday, June 22, 2024

FDI inflow from partnerships

By Tue Nhien

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Upgrading its relations with major bilateral and multilateral partners helps Vietnam enhance its global stance and become an attractive destination for foreign direct investment (FDI) Upgrading international relations Vietnam and Australia issued a Joint Statement on elevating their relationship to a comprehensive strategic partnership on March 7, 2024, during the official visit of Prime Minister Pham Minh Chinh to Australia at the invitation of Australian Prime Minister Anthony Albanese. Thus, in less than half a year, Vietnam has established comprehensive strategic partnerships with three major powers, namely the United States, Japan, and Australia. As of now, Vietnam has established comprehensive partnerships with 14 countries, strategic partnerships with 16 countries, but has only upgraded relations to comprehensive strategic partnerships with seven countries, all of which are major powers, including China (2008), Russia (2012), India (2016), South Korea (2022), the United States (2023), Japan (2023), and most recently Australia (2024). Some forecasts suggest that in 2024, Vietnam may upgrade its relationship to a comprehensive strategic partnership with two Southeast Asian countries, Singapore and Indonesia. It is worth noting that all seven countries with which Vietnam has upgraded relations to the highest level have important geopolitical positions in the Asia-Pacific – Indian Ocean […]
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