ECONOMYNEXT – Sri Lanka is devoted to deepening ties with Vietnam Overseas Minister Vijitha Herath mentioned, as the 2 nations marked 55 years of diplomatic relations in 2025.
A latest go to by President Anura Kumara Dissanayake to Vietnam has paved the way in which for a brand new chapter within the partnership between the 2 nations, he mentioned.
“It’s our hope that the dialogue on cooperation in commerce, funding, renewable power, agriculture and schooling that was initiated throughout these talks will convey a few host of mutual advantages and progress in various fronts to each our nations,” Minister Herath mentioned.
“Sri Lanka is devoted to deepening commerce, funding, and tourism ties with Viet Nam.
“Sri Lankan investments in Viet Nam totals to a registered capital of greater than 43 million {dollars}, significantly within the attire sector, and we encourage additional collaboration, together with government-to-government investments and private-sector partnerships.”
Minister Herath talking at a ceremony in Colombo marking 70 years of independence of Vietnam and 55 years of diplomatic relations on August 19.
Sri Lanka acknowledged the Provisional Revolutionary Authorities of South Viet Nam, he mentioned.
“Within the wake of Viet Nam’s reunification, Sri Lanka was proud to be among the many first nations to determine diplomatic relations with the Socialist Republic of Viet Nam,” he mentioned.
“As two nations who’ve stood up for his or her independence and overcome adversity with unshaken resolve Viet Nam’s story of independence holds profound which means for Sri Lanka.”
Vietnam went into extreme financial difficulties within the Nineteen Eighties because the dong fell just like the Sri Lanka rupee resulting in opening the financial system in 1986.
Central financial institution reform – together with separating credit score refinancing unit of the company into separate industrial banks – finally led to financial stability within the early Nineties, analysts say.
With 17 free commerce agreements, Vietnam residents now get pleasure from excessive dwelling requirements and financial freedoms, and exports that may compete with any on the earth.
“Over the previous 8 many years, Vietnam has undergone a exceptional journey from a war-torn nation to unwavering resilience and dedication,” Vietnam Ambassador to Colombo, Trinh Thi Tam mentioned.
“We have now steadily developed and achieved quite a few milestones which have formed the nation we’re at present.
“Politically, Vietnam has loved a case of stability underneath the management of the Communist Get together of Vietnam.
“Economically, we’ve got emerged as one of the vital dynamic economies within the area, with GDP development fee recording over 7 p.c in 2024 and anticipated to succeed in 8 p.c this yr.
“Vietnam has change into a beautiful vacation spot for overseas investments, with registered FDI reaching practically 40 billion US {dollars} in 2024.”
Sri Lanka arrange an embassy in Vietnam in 2003 and Vietnam re-opened an embassy in Colombo in 2011.
“Over the previous 5 and a half many years, our partnership has steadily advanced, guided by mutual respect, shared values, and a deep sense of solidarity,” Minister Herath mentioned.
“Our two nations have constantly nurtured significant engagement by way of high-level exchanges, institutional cooperation mechanisms, and practically 40 bilateral agreements throughout various sectors equivalent to commerce, schooling, agriculture, and defence.
“With secure commerce relations and promising prospects for additional collaboration, our relationship stands on a powerful basis.
“As we glance forward, we’re dedicated to increasing this partnership into new and rising domains, whereas persevering with to work intently in regional and multilateral fora to uphold peace, safety, and sustainable growth.” (Colombo/Aug20/2025)
