Prime Minister attends Viet Nam-Estonia Business Forum in Tallinn

The event was jointly organized by the Vietnamese Ministry of Finance, the Embassy of Viet Nam in Finland cum Estonia, and the Ministry of Foreign Affairs of Estonia.

This is an important event for both sides to exchange solutions to promote economic, trade, and investment ties.

At the forum, delegates were briefed about the investment and business potential and environment of both Viet Nam and Estonia and the capabilities and plans for investment and business of enterprises from both countries.

Since the establishment of diplomatic relations in 1992, the bilateral relationship has grown increasingly stronger. Estonia has actively supported Viet Nam in signing the EU-Viet Nam Free Trade Agreement (EVFTA) and was among the first EU countries to ratify the EU-Viet Nam Investment Protection Agreement (EVIPA).

However, investment cooperation between the two countries remains modest. Currently, Estonia has five valid direct investment projects in Viet Nam, with a total registered capital of US$280,000. In 2024, the bilateral trade ties only hit US$73.8 million.

Estonian enterprises hold many advantages in fields such as innovation, information technology, digital transformation, digital economy, financial technology (fintech), artificial intelligence, smart logistics, and digital seaports.

Meanwhile, many foreign investors have chosen Viet Nam as a strategic manufacturing hub connected to the global supply chains.

The Southeast Asian nation is increasingly affirming its role as a key link in the value chain and in the new investment structure of the region and the world—especially in sectors such as electronics, science and technology, innovation, and semiconductors.

Estonian Minister of Foreign Affairs Margus Tsahkna expressed his belief that the visit of Prime Minister Pham Minh Chinh will help elevate the bilateral relationship to a new height.

The two nations should bolster stronger ties, especially in the fields of digital transformation, innovation, education, and technology, while promoting the role of businesses and private sector, noted Tsahkna.

Viet Nam to serve as a hub for Estonian businesses and investors entering Southeast Asia

Addressing the event, Pham said that during his talks with his Estonian counterpart Kristen Michal, both sides vowed to strengthen ties in science and technology, innovation, and digital transformation - the areas where Estonia has strengths and Viet Nam prioritizes.

He said that the two Prime Ministers pledged to expand cooperation in economics, trade, and investment, especially leveraging the EVFTA and the EVIPA, to facilitate the exchange of goods between the two countries, benefiting consumers and supporting the economic development of each nation.

The two leaders agreed to protect the legitimate and legal rights and interests of businesses from both countries; welcomed and encouraged their enterprises to seek for investment opportunities in emerging fields such as digital transformation, cloud computing, and the Internet of Things.

Pham called on the Vietnamese and Estonian businesses to enhance linkages and coordination in investment and business activities that bring benefits to both countries and their peoples, contributing to peace, stability, cooperation, and development in the region and the world.

Viet Nam will serve as a hub and gateway for Estonian businesses and investors entering Southeast Asia - the region with a dynamic population of 700 million while Estonia will be the hub and gateway for Vietnamese enterprises into the Baltic and Nordic regions, emphasized the Vietnamese leader.

The same day, Pham had meetings with President of Bolt Jevgeni Kabanov, CEO and co-founder of the 5.0 Robotics Carlo Lustrissimi and visited Cybernetica, one of the symbols of Estonia's digital economy and a global pioneer in e-government solutions, cybersecurity, and digital infrastructure./.