Vietnam and Spain are poised to strengthen their diplomatic and economic ties as Prime Minister Pham Minh Chinh prepares to welcome Spanish Prime Minister Pedro Sánchez for an official visit from April 8 to April 10, 2025. This visit marks the first time a Spanish Prime Minister has visited Vietnam since the two countries established diplomatic relations in 1977, and it is also the first visit by a high-ranking Spanish leader in 19 years.
The upcoming meeting is expected to bolster bilateral cooperation and enhance trust between the two nations in various sectors, especially in economic and trade relations. Prime Minister Chinh has emphasized the importance of increasing Spanish investment in Vietnam, highlighting the potential for growth as both countries celebrate nearly five decades of diplomatic relations.
Trade between Vietnam and Spain is on an upward trajectory, with projections indicating that the trade value will reach $4.72 billion in 2024, representing a robust 20% increase compared to 2023. This growth underscores Spain's status as one of Vietnam's top five trading partners in Europe, reflecting a deepening economic relationship.
As of April 2025, Spain has invested in 97 projects across Vietnam, amounting to a total investment of $143.9 million. This positions Spain as the 46th largest investor among 149 countries and territories in Vietnam. Notably, Doan Thanh Song, the Vietnamese Ambassador to Spain, remarked that Vietnam is increasingly viewed as an attractive destination for foreign direct investment (FDI), particularly in high-tech industries.
The partnership between Vietnam and Spain is not solely focused on economics; it also encompasses cultural exchanges and vocational training initiatives aimed at fostering closer ties. In 2024, Vietnam welcomed approximately 91,400 Spanish tourists, showcasing the growing interest in cultural and tourism exchanges.
During the visit, Prime Minister Chinh is expected to propose several initiatives aimed at enhancing cooperation between the two nations. These include increased exchanges of delegations at all levels, particularly at the senior level, and the signing of a joint operational plan between the two governments. The discussions will likely touch on strategic cooperation in sectors such as transportation infrastructure, renewable energy, science and technology, and agriculture.
Spain's commitment to supporting Vietnam extends to the realm of football, with initiatives aimed at developing professional and community football within the country. This collaboration is set to continue until June 2026, further solidifying the cultural and sporting ties between the two nations.
Spain's investment in Vietnam is supported by a robust framework of official development assistance (ODA), estimated at $1 billion. This funding will be allocated to six key projects focusing on healthcare, environmental protection, and sustainable socio-economic development, contributing significantly to Vietnam's growth.
As both countries look to the future, the upcoming visit by Prime Minister Sánchez is seen as a critical opportunity to enhance collaboration and explore new avenues for mutual benefit. The meeting is expected to pave the way for a more dynamic and positive transformation in economic and trade relations between Vietnam and Spain.
In addition to economic discussions, the two leaders are anticipated to engage in dialogue about strengthening political trust and expanding cooperation in various fields, including diplomacy, trade, investment, and sustainable development. The visit is also timely, coinciding with the upcoming 50th anniversary of diplomatic relations in 2027, which both nations aim to celebrate with significant cultural and economic exchanges.
As Spain continues to position itself as a key player within the European Union, its strengthening ties with Vietnam are likely to enhance Vietnam's role and influence in the region. This partnership not only benefits the two countries economically but also fosters cultural understanding and cooperation.
In summary, the official visit by Spanish Prime Minister Pedro Sánchez to Vietnam signifies a pivotal moment in the bilateral relationship, with both nations poised to explore new opportunities for collaboration. The commitment to enhancing trade, investment, and cultural exchanges reflects a mutual desire to build a stronger partnership that will benefit both nations for years to come.
