Argentina newspaper highlights Vietnam as destination for world leaders. (Illustrative image: VNA)

The article noted that Brazilian President Luiz Inácio Lula da Silva’s visit to Vietnam in March, followed by upcoming visits by Spanish Prime Minister Pedro Sánchez, French President Emmanuel Macron, and European Commission President Ursula von der Leyen, underscores the increasing interest in Vietnam.

These visits reflect Vietnam’s status as one of Asia’s most dynamic economies, with an ambitious target of 8% growth in 2025. Specifically, new US tariff policies are prompting these leaders to to come Vietnam to strengthen trade and investment ties with Vietnam, mitigating the impact of the tariffs.

Infobae emphasised that Vietnam offers several advantages to foreign investors, including political stability, a competitive labour force, and a strategic location that facilitates access to the Chinese market. This positioning has made Vietnam an attractive alternative in global supply chains.

The article also highlighted Vietnam’s efforts to diversify trade through its participation in major free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP).

Regarding Spain, Infobae noted that Vietnam-Spain economic relations are shaped within the framework of the EU-Vietnam Free Trade Agreement (EVFTA).

Spanish Prime Minister Sánchez is expected to explore new business opportunities with Vietnam in renewable energy and infrastructure.