Sri Lanka looks to be most open economy in South Asia
Sri Lanka has set the goal of becoming the most open economy in South Asia, its Deputy Foreign Minister Harsha de Silva told a seminar held in Hanoi on January 29.
Hanoi (VNA) – Sri Lanka has𒈔 set the goal of becoming the most open economy in South Asia, its Deputy Foreign Minister Harsha de Silva told a seminar held in Hanoi on January 29.
During the event, he also presented an overview of Sri Lanka’s socio-political and economic landscapes as well as its latest outstanding achievements.
According to him, since taking office last September, the Sri Lankan government has been pursuing five strategic goals of promoting economic growth, fighting corruption, ramping up infrastructure and education quality, and ensuring citizens’ rights.
He revealed that the country is working hard to develop into a hub for services and manufacturing supplies for the region and the world, and is paying more attention to high-value farming production for domestic consumption and exports.
The embassy took the occasion to announce its plan to establish a provisional board of the Sri Lanka Business Council in Vietnam.
Earlier, Sri Lankan Ambassador to Vietnam Saranya Hasathi Urgodawatt Dissanayke held a working session with General Secretary of the Vietnam Chamber of Commerce and Industry Pham Thi Thu Hang.
The ambassador said both countries hold huge economic potential which is yet to be tapped to the fullest and wished that they will enhance coordination in more areas of shared interest.-VNA
A Sri Lanka - Vietnam trade centre was officially opened in Colombo capital, Sri Lanka, on August 6 to serve as a platform to intensify investment, trade and tourism cooperation between the two countries.
Sri Lanka’s Minister of Industry and Commerce Rishad Badiutheen suggested Vietnamese exporters take part in supplying rice for his country as it is in need of buying about 15,000 tonnes.
Deputy Prime Minister and Foreign Minister Pham Binh Minh has said he hopes that Vietnam – Sri Lanka relations will further develop in a result-oriented manner for the two peoples’ interests.
The Vietnam–Sri Lanka Friendship Association was set up in Hanoi on September 26 the aim of boosting the multi-faced cooperation between the two countries for mutual benefit, as well as for peace and development in the region and beyond.
Prime Minister Nguyen Tan Dung has proposed that Vietnam and Sri Lanka strengthen their trade partnership while continuing to foster affiliation in investment, tourism, agriculture and seafood.
Vice Chairman of the National Assembly Huynh Ngoc Son met with Deputy Speaker of the Sri Lankan Parliament Chandima Weerakkody in Hanoi on March 26, during which both sides agreed to foster their traditional friendship and cooperation, especially in law-making, economics and culture.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
In a supermarket in Sri Lanka (Source: VNA)
