This statement was highlighted during a working session between Mr Nguyen Quang Vinh, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), and Mr Carlos A. Hoyos, Deputy Minister of Foreign Affairs of Panama, held during the Panamanian delegation's official visit to Vietnam.

At the meeting, VCCI Vice President Nguyen Quang Vinh emphasized that Vietnam and Panama share a long-standing traditional friendship. He noted that the Panamanian President’s visit to Vietnam in 2012 served as a pivotal milestone, unlocking numerous opportunities for economic cooperation between the two nations.

The VCCI Vice President said that while bilateral investment cooperation has established initial foundations, its current scale remains modest. Vietnam presently hosts around 10 Panama-related projects, including 6 funded by Panamanian investors, concentrated primarily in Ho Chi Minh City. Bilateral trade and investment turnover have not yet matched the potential or economic standing of either country.

Against the backdrop of Vietnam targeting double-digit economic growth linked with sustainable and inclusive development, the Government is implementing key policy initiatives to foster science, technology, innovation, digital transformation, and international expansion for domestic firms. Furthermore, Vietnam is preparing to host the APEC Summit in 2027, creating further opportunities to broaden partnerships, including with Panama.

The VCCI Vice President expressed a desire for both sides to strengthen business-to-business (B2B) connections and promote trade and investment facilitation, thereby boosting bilateral trade volume and capitalizing on untapped opportunities.

From the Panamanian side, Deputy Minister of Foreign Affairs Carlos A. Hoyos said that the past year recorded Panama's highest-ever export volume to Vietnam, valued at approximately USD 16 million. Although modest in scale, he noted this figure demonstrates significant room for growth, particularly in raw materials, timber, seafood, and logistics.

Mr Hoyos reaffirmed Panama’s ambition to become a key partner in Vietnam’s trade and investment expansion strategy. He proposed establishing direct exchange mechanisms between agencies, institutions, and the business communities of both countries through the Embassy of Panama in Vietnam, aiming to advance joint initiatives and create favourable conditions for enterprises.

Highlighting Panama's competitive advantages, Mr Hoyos noted that the country possesses a network of trade agreements spanning 63 countries and territories, including the United States, the European Union (EU), and the Mercosur bloc—enabling businesses to access diverse markets under preferential terms.

Panama also serves as a strategic gateway to the Americas. It operates the Panama Canal, one of the world's most vital maritime trade routes, handling roughly 5–6% of global trade and nearly 40% of US maritime traffic.

Panama boasts a port network of five maritime hubs connecting approximately 180 shipping routes, alongside plans to expand port capacity to 14 million TEUs. Supported by advanced logistics networks, bonded warehouses, and maritime services, Panama has established itself as Latin America’s premier logistics, financial, and distribution hub.

Furthermore, Panama offers attractive incentive frameworks for foreign investors. These include the Colon Free Trade Zone—the second-largest free trade zone globally; the Multinational Headquarters (SEM) regime currently housing around 190 multinational enterprises, and legal stability guarantees for large-scale investment projects.

Crucially, Mr Hoyos emphasized that Panama is not merely a logistics hub but is actively positioning itself as an emerging destination for high-tech industries such as semiconductors and artificial intelligence (AI), alongside rolling out major infrastructure projects in transport, energy, and port development.

Commending Panama’s core strengths, the VCCI Vice President underscored the complementary nature of the two economies. Vietnam excels in manufacturing, exports, and processing industries, whereas Panama serves as a connectivity hub for North, South, and Central America, offering a highly developed logistics, financial, and service ecosystem. Harnessing these mutual advantages effectively will provide Vietnamese businesses with a strategic transshipment point to enter the Latin American market.

Both parties agreed on the necessity of launching business matchmaking activities ahead of the Panamanian President’s upcoming visit to Vietnam in October.

Accordingly, VCCI will collaborate closely with the Embassy of Panama in Vietnam and trade promotion agencies to facilitate early business networking, identify priority sectors and specific import-export demands, and organize business-to-business (B2B) connections and investment forums. These initiatives aim to pave the way for formal agreements to be signed during the high-level summit.

Mr.  Carlos A. Hoyos also proposed establishing a direct communication link between government bodies and business communities via the Embassy of Panama in Vietnam and VCCI to ensure swift execution of joint projects. He reiterated Panama's readiness to accompany Vietnam in broadening trade and investment ties across the Americas.

During the meeting, representatives from some Vietnamese enterprises operating in apparel, logistics, and agriculture expressed strong interest in building direct partnerships with Panamanian counterparts.