VCCI Chairman Pham Tan Cong Presents Souvenir to Mr. Darius Indriunas, Vice Minister of Economy and Innovation of Lithuania

As part of the official visit to Vietnam by H.E. Gitanas Nausėda, President of the Republic of Lithuania, and the First Lady, at the invitation of President Luong Cuong, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Tan Cong held a meeting with Mr. Darius Indriunas, Vice Minister of Economy and Innovation of Lithuania, and Mr. Julijus Glebovas, Vice Minister of Transport of Lithuania.

During the meeting, both sides discussed the potential for bilateral cooperation and opportunities to connect the business communities of the two countries, especially in the fields of fintech, high technology, agriculture, life sciences, and innovation.

The Lithuanian Vice Minister of Economy expressed a strong desire to expand trade, economic, and investment cooperation with Vietnam, a strategic partner in the ASEAN region and the Asia-Pacific.

Mr. Indriunas emphasized that although Lithuania has a relatively small population, it plays a strategic role as a gateway for Vietnamese businesses to access the Baltic markets and, more broadly, the European Union (EU).

Notably, the Vice Minister of Economy proposed several specific cooperation initiatives to the Vietnamese business community. He extended an invitation to VCCI and Vietnamese enterprises to participate in a series of major upcoming events in Lithuania focused on startups and science, which are expected to draw participation from across Europe. These events aim to facilitate investment partnerships, technology cooperation, and potential M&A deals.

Additionally, the Lithuanian Vice Minister expressed a strong interest in deepening cooperation with Vietnam in Lithuania’s areas of strength, including fintech, digital transformation, cybersecurity, artificial intelligence, and high-quality workforce training in technology. These sectors also align with Vietnam's current development priorities in enhancing national economic competitiveness.

The Lithuanian Vice Minister of Economy also affirmed that the Lithuanian Embassy in Singapore, which is concurrently accredited to Vietnam, will strengthen its coordination with VCCI in organizing trade promotion activities and online business networking events, as well as arranging working visits between the two sides. These efforts aim to provide information and bring businesses from both countries closer to investment opportunities in each other's markets.

Currently, Vietnam has no investment projects in Lithuania. Therefore, the Vice Minister expressed hope that, with support from both governments and VCCI, Vietnamese enterprises will soon gain access to the promising Lithuanian market.

In response to the proposals from Lithuania, VCCI Chairman Pham Tan Cong expressed strong support and appreciation for Lithuania’s proactive spirit of cooperation. He affirmed that VCCI is ready to serve as a bridge between the two business communities and will provide the Lithuanian Embassy in Singapore (accredited to Vietnam) with information on investment opportunities and potential partners in Vietnam.

Chairman Cong also emphasized that building connections and tapping into cooperation potential with dynamic economies like Lithuania is essential in the context of deepening international integration.

Looking ahead, Chairman Pham Tan Cong proposed that the two sides consider intensifying business delegations for trade and investment promotion, and organizing forums and seminars in both online and in-person formats to explore markets. These initiatives would help maintain regular contact and strengthen substantive cooperation between the two countries.

VCCI Chairman Pham Tan Cong Poses for a Photo with Mr. Darius Indriunas, Vice Minister of Economy and Innovation of Lithuania

At present, the bilateral trade turnover remains modest and does not yet reflect the full potential of the two countries. Businesses from both sides have yet to fully leverage the EU–Vietnam Free Trade Agreement (EVFTA). Therefore, VCCI Chairman Pham Tan Cong proposed that, moving forward, the business communities of both countries enhance cooperation in key areas such as information technology, digital transformation, energy, climate change mitigation, education and training, and agriculture.

Both sides also agreed to maintain an open dialogue channel and promote practical cooperation programs through the signing of a Memorandum of Understanding (MOU) at the Vietnam–Lithuania Business Forum. This effort is expected to further deepen bilateral relations in the future.