Vietnam-Estonia Business Forum held in Tallinn

Prime Minister Pham Minh Chinh on June 6 attended the Vietnam-Estonia Business Forum in Tallinn as part of his official visit to the European nation, according to a report from the Government News.

The event, jointly organized by the Vietnamese Ministry of Finance, the Embassy of Vietnam in Finland cum Estonia, and the Ministry of Foreign Affairs of Estonia, was an opportunity 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 Vietnam and Estonia and the capabilities and plans for investment and business of enterprises from both countries.

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

However, investment cooperation between the two countries remains modest. Currently, Estonia has five valid direct investment projects in Vietnam, with a total registered capital of $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 Vietnam as a strategic manufacturing hub connected to the global supply chains.

As a Southeast Asian country, Vietnam 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.

Addressing the event, the Vietnamese Prime Minister 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 Vietnam prioritizes.

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 Vietnamese PM said.

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, according to PM Chinh.

He 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.

Vietnam 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.

Estonian Minister of Foreign Affairs Margus Tsahkna, for his part, 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 Mr. Tsahkna.

On the same day, PM  Pham Minh Chinh 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.