Vietnam, New Zealand Eyeing Significant Trade, Investment Cooperation Expansion

Vietnamese Prime Minister Le Minh Hung and New Zealand Prime Minister Christopher Luxon agreed to significantly expand cooperation in trade and investment, leveraging the recent elevation of their bilateral relationship to a Comprehensive Strategic Partnership. Both leaders affirmed that this strengthened relationship would contribute positively to peace, stability, cooperation, and development in the region and the world. PM Hung called on ASEAN and New Zealand to prioritise cooperation in ensuring people's essential needs and building secure and resilient food and energy supply chains. Vietnam expressed its willingness to work with New Zealand to advance ASEAN-New Zealand relations in a more substantive manner. The discussions took place as Vietnam embarks on a new phase of national development. The swift translation of the vision adopted at the 14th Party Central Committee's third plenum into actionable policy directives should inspire confidence in Vietnam's future development trajectory, the report noted. Vietnam aims for a self-reliant, innovative, humane, sustainable, and globally integrated development model, designating science and technology, innovation, digital transformation, and artificial intelligence as key growth drivers. Furthermore, Vietnam indicated a shift from solely exploiting resources towards effective governance and sustainable use of its maritime space, underpinned by science and technology, innovation, and digital transformation. Vietnam also attaches great importance to its relationship with Australia, regarding defence cooperation as a key pillar of bilateral ties. Additionally, Vietnam is exploring collaborations with high-tech industrial groups like Italy's Leonardo S.p.A., anticipating cooperation in defence, security, aerospace, cybersecurity, and critical infrastructure protection. Domestically, the National Assembly Standing Committee is reviewing numerous items for upcoming sessions, including draft laws and proposals related to land law reform. Amendments to the Law on Real Estate Business, in particular, must align with regulations governing land, housing, investment, planning, construction, and finance. The aim is to fully codify principles from the Party Central Committee's resolution on land law reform, ensuring a coherent, non-overlapping, and more enforceable legal framework. Copyright, VietnamPlus, Vietnam News Agency (VNA)