KOVECA: National Party Congress sends message of resilient Viet Nam
VGP - The 14th National Party Congress sent a clear message of a proactive, flexible, and increasingly resilient Viet Nam amid a rapidly changing world, said Kwon Sung Taek, Chairman of the Korea–Viet Nam Economic and Cultural Association (KOVECA).
Chairman of the Korea–Viet Nam Economic and Cultural Association (KOVECA) - Photo: VGP/NVCC
Kwon highly spoke of the effectiveness of Viet Nam's external affairs and its economic achievements during the 2020–2025 period.
Against the backdrop of a global economic downturn and slowing growth in many major economies, Viet Nam has continued to maintain macroeconomic stability and positive growth.
According to the Chairman of KOVECA, the most prominent economic achievements of Viet Nam over the past five years have been built on three key pillars including digital transformation, infrastructure investment, and human resource development through education. These orientations not only resolve immediate needs but also lay a solid long-term foundation for national competitiveness.
In particular, the attraction of over US$ 180 billion in foreign direct investment has positioned Viet Nam as one of the most appealing destinations for global capital flows. Mr. Kwon Sung Teak noted that this is not short-term capital, but investment that has brought about clear structural changes in the economy.
"Viet Nam's industrial structure is undergoing a strong shift from traditional manufacturing toward high-tech sectors such as semiconductors, electronics, electric vehicles, and new energy. Viet Nam is gradually asserting itself as a major production and export hub, moving beyond its former image as a simple processing base," he analyzed.
Viet Nam is also emerging as a safe and reliable destination thanks to political stability, a transparent policy environment, and high predictability. The convergence of these favorable factors, together with an open trade structure, has strengthened the confidence of international investors seeking long-term and sustainable development opportunities in Viet Nam.
The 14th National Party Congress of the Communist Party of Viet Nam holds particular significance. According to the Chairman of KOVECA, the Congress will "mark a turning point in defining Viet Nam's development path toward the 2030 and 2045 visions," while clearly shaping strategic priorities in institutional reform, economic development, and foreign relations amid rapidly evolving and increasingly complex global geopolitics.
The National Party Congress also provides an opportunity for Viet Nam to reaffirm the effectiveness of state governance following strong administrative reforms, thereby fostering a more favorable and transparent policy environment for international cooperation.
New vision for Viet Nam-South Korea relations
On this basis, Viet Nam–Republic of Korea relations are expected to fully realize the potential of their comprehensive strategic partnership framework, he added.
Kwon Sung Teak assessed that Viet Nam's elevation of relations to comprehensive strategic partnerships with major countries such as the U.S., Japan, Australia, and the South Korea is clear evidence of the country's rising international credibility. This is a direct result of a consistent and flexible foreign policy that nevertheless demonstrates strong resolve amid an intensely competitive strategic environment.
Within this broader picture, Viet Nam–South Korea relations are regarded by Mr. Kwon Sung Teak as among the most dynamic and substantive bilateral partnerships. The relationship has undergone a fundamental qualitative transformation, evolving from traditional economic cooperation toward robust expansion in high-tech fields such as semiconductors, green energy, and other strategic industries. These sectors have long-term impacts on the competitiveness and strategic autonomy of both countries.
Beyond economic cooperation, cultural connectivity and people-to-people exchanges continue to serve as a foundational pillar. Cultural, culinary, educational exchanges, and youth connectivity have helped build a solid social foundation, enabling Viet Nam–Republic of Korea relations to develop steadily and sustainably over decades.
Looking ahead, Mr. Kwon Sung Teak was convinced that Viet Nam and the South Korea have significant potential to emerge as a strategic cooperation in supply chain stability and technology transfer. This highly complementary relationship aligns well with the development orientations of both economies in the era of green transition and digital transformation.
According to Mr. Kwon Sung Teak, the long-term goal of the bilateral relationship is to move from an investment-based cooperation model toward one of joint design and shared responsibility. "The two countries can work together to transform the Miracle on the Han River into a Miracle on the Red River, building a shared growth model founded on innovation and sustainable development," he emphasized./.
