We are ready to create best conditions for Kazakhstani investors - Tô Lâm
Relations between Kazakhstan and Vietnam are moving to a new level. General Secretary of the Central Committee of the Communist Party of Vietnam Tô Lâm said it during the Kazakhstan-Vietnam Business Roundtable in Astana, Kazinform News Agency reports.
Since the establishment of diplomatic relations in 1992, the two countries have reached considerable success in politics, diplomacy, culture, science and other fields. However, economic interaction does not fully reflect the entire potential of the bilateral cooperation, he noted.
“In 2024, commodity turnover between Vietnam and Kazakhstan reached almost $1 billion, while the total volume of investments made around $5 million. These figures remain modest given the resources and potential of our countries,” Tô Lâm noted.
He pointed out several factors contributing to this growth: strengthening the bilateral ties after the visit of the President of Kazakhstan, Kassym-Jomart Tokayev, to Vietnam in August 2023, participation of the two countries in the Vietnam-EAEU Free Trade Agreement, as well as signing the joint action plan on facilitation of trade-economic cooperation development till 2025.
According to Tô Lâm, the launch of direct flights by VietJet between the countries considerably simplified logistics and expanded opportunities for business and tourist contacts.
The sides intend to focus on financial sector, with Kazakhstan promoting the Astana International Financial Center, and Vietnam developing similar hubs in Ho Chi Minh and Danang. The Vietnamese side expressed readiness to apply Kazakhstan’s experience including in the development of capital markets and green finances.
Vietnam also views Kazakhstan as a key partner in Central Asia and aims at establishing strategic partnership.
“We are ready to create best conditions for Kazakhstani investors, We consider your success as our success and a source of our pride,” General Secretary of the Central Committee of the Communist Party of Vietnam Tô Lâm stressed.
The goal is to raise bilateral trade to $5 billion by 2030. Oil and gas industry, energy, agriculture, light industry, tourism and high technologies were named the promising areas. The Vietnamese side is also interested in cooperation in production of footwear and leather goods, which can become an export bridge to the markets of Central Asia and other regions.
Earlier, Kassym-Jomart Tokayev and Tô Lâm held narrow-format talks.