Party General Secretary To Lam has affirmed Vietnam’s strong commitment to creating favourable conditions for Kazakh investors to do business successfully in Vietnam.
 |
| Party General Secretary To Lam addresses the Vietnam - Kazakhstan Business Roundtable in Astana on May 6. Photo: VNA |
Addressing a Vietnam–Kazakhstan Business Roundtable in Astana on May 6 as part of his ongoing state visit to Kazakhstan, the Vietnamese Party leader emphasised that the success of Kazakh 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% on annual average. In 2024, it reached 479.1 million USD, a 19.2% 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, totalled 408.18 million USD, up 4.4%.
Imports from Kazakhstan, including steel, wheat, and cotton, soared to 70.88 million USD, a striking 556.6% surge.
Investment, however, lags behind trade. Kazakhstan has invested in six projects worth 560,000 USD in Vietnam, ranking 111th among 147 countries and territories investing here. Vietnam, for its part, has yet to launch any investments in Kazakhstan.
