National Assembly Chairman Trần Thanh Mẫn address the policy dialogue on promoting Việt Nam–Türkiye cooperation in Istanbul on Thursday. — VNA/VNS Photo Doãn Tấn

ISTANBUL — Elevating Việt Nam–Türkiye cooperation is both an urgent necessity and a matter of long-term strategic significance in the shifting global economy, said National Assembly Chairman Trần Thanh Mẫn as he attended a policy dialogue on promoting Việt Nam–Türkiye ties in Istanbul on Thursday.

The top Vietnamese legislator was in Istanbul to attend the 152nd Assembly of the Inter-Parliamentary Union (IPU-152) and for bilateral activities.

He described the policy dialogue as not only an important opportunity for enterprises of both countries to exchange views on investment and trade cooperation but also a vivid symbol of nearly 50 years of traditional friendship built on trust, mutual support and goodwill.

The NA chairman noted that in recent years, Việt Nam has steadily affirmed its position as a stable, friendly and safe country, an attractive investment destination, a dynamic manufacturing hub and a highly integrated economy.

The country’s GDP in 2025 is estimated at US$514 billion, ranking 32nd globally and fourth in ASEAN. Its per capita income reached $5,026, placing Việt Nam in the upper-middle-income group.

Việt Nam is also among the world’s top 15 developing countries in attracting foreign direct investment (FDI), with cumulative registered FDI reaching approximately $530 billion. In 2025 alone, registered FDI exceeded $38.4 billion.

These achievements, he emphasised, are underpinned by Việt Nam’s stable political and social environment.

In addition, Việt Nam has signed 17 free trade agreements with over 60 countries and territories while diversifying markets, products and supply chains.

Regarding the legal framework, the NA chairman highlighted that in the past year the NA passed several key laws to significantly improve the business and investment environment, focusing on administrative reform, enhanced transparency, investor protection and innovation promotion.

With competitive production costs, a young and adaptable workforce and improved infrastructure and logistics systems, Việt Nam has become an ideal destination for multinational corporations.

He also underlined Việt Nam’s growing international standing and credibility. With an independent, self-reliant and multilateral foreign policy, the country has built a reputation as a reliable and responsible partner, facilitating market expansion and attracting investment, technology and knowledge.

The country aims to become a highly competitive regional hub for manufacturing, services and innovation in Asia and a key, reliable link in regional and global supply chains, he said, adding that Việt Nam seeks not only to participate in but to move up the value chain with a focus on technology innovation, design and mastery.

Speaking about Việt Nam–Türkiye ties, NA Chairman Mẫn noted that the two countries share a strong traditional friendship based on mutual respect, mutual benefit and sustainable development.

Türkiye is an important partner of Việt Nam in the region, serving as a strategic bridge between Asia and Europe. Meanwhile, Việt Nam, as a dynamic and fast-growing economy, is an important gateway for Türkiye to access Southeast Asian and Asia-Pacific markets.

Việt Nam has become one of the leading destinations for Turkish investors, with more than 40 Turkish enterprises currently operating in the country.

However, the top Vietnamese legislator noted that current cooperation has yet to match the potential and strengths of both countries, with bilateral trade reaching only about $2.3 billion in 2025.

Amid shifting global economic dynamics, supply chain restructuring and the rise of digital and green transitions, upgrading bilateral cooperation is both necessary and strategically significant, he stressed.

Developing transport corridors and supply chain connectivity between the two regions will be a key driver for long-term competitiveness and sustainable growth, he said.

NA Chairman Mẫn proposed several major directions for future cooperation, including strengthening political trust through high-level exchanges and parliamentary cooperation and maintaining regular dialogue and policy consultation mechanisms to underpin comprehensive cooperation.

Both sides should also promote economic, trade, investment and tourism cooperation as key pillars of bilateral relations, aiming to increase trade turnover in a balanced and sustainable manner while facilitating market access and deeper participation in global value chains.

He further suggested expanding cooperation in sectors with strong potential for mutual benefits, such as manufacturing, textiles, footwear, high-tech agriculture, energy, transport infrastructure and logistics, as well as strategic emerging areas, including digital transformation and renewable energy.

The NA chairman also emphasised the role of parliaments in improving legal frameworks, overseeing the implementation of cooperation commitments and fostering a transparent and stable business environment. He also underscored the Vietnamese NA’s commitment to working closely with the Government to further refine institutions and support cooperation between the two countries.

He expressed confidence that with strong political will, close coordination between legislative and executive bodies and the dynamic business communities of both countries, Việt Nam–Türkiye relations will enter a new phase of more substantive and effective development, contributing to each country’s growth as well as to peace, stability and development in both regions and globally.

At the dialogue, representatives of business associations and enterprises from Việt Nam and Türkiye discussed cooperation potential in trade, investment and sustainable development while sharing experiences in improving the business environment, mobilising resources and promoting innovation. — VNS