ECONOMYNEXT – Sri Lanka is dedicated to deepening ties with Vietnam Foreign Minister Vijitha Herath said, as the two countries marked 55 years of diplomatic relations in 2025.
A recent visit by President Anura Kumara Dissanayake to Vietnam has paved the way for a new chapter in the partnership between the two countries, he said.
“It is our hope that the dialogue on cooperation in trade, investment, renewable energy, agriculture and education that was initiated during these talks will bring about a host of mutual benefits and progress in diverse fronts to both our countries,” Minister Herath said.
“Sri Lanka is dedicated to deepening trade, investment, and tourism ties with Viet Nam.
“Sri Lankan investments in Viet Nam totals to a registered capital of more than 43 million dollars, particularly in the apparel sector, and we encourage further collaboration, including government-to-government investments and private-sector partnerships.”
Minister Herath speaking at a ceremony in Colombo marking 70 years of independence of Vietnam and 55 years of diplomatic relations on August 19.
Sri Lanka recognized the Provisional Revolutionary Government of South Viet Nam, he said.
“In the wake of Viet Nam’s reunification, Sri Lanka was proud to be among the first countries to establish diplomatic relations with the Socialist Republic of Viet Nam,” he said.
“As two nations who have stood up for their independence and overcome adversity with unshaken resolve Viet Nam’s tale of independence holds profound meaning for Sri Lanka.”
Vietnam went into severe economic difficulties in the 1980s as the dong fell like the Sri Lanka rupee leading to opening the economy in 1986.
Central bank reform – including separating credit refinancing unit of the agency into separate commercial banks – eventually led to monetary stability in the early 1990s, analysts say.
With 17 free trade agreements, Vietnam citizens now enjoy high living standards and economic freedoms, and exports that can compete with any in the world.
“Over the past 8 decades, Vietnam has undergone a remarkable journey from a war-torn country to unwavering resilience and determination,” Vietnam Ambassador to Colombo, Trinh Thi Tam said.
“We have steadily developed and achieved numerous milestones that have shaped the nation we are today.
“Politically, Vietnam has enjoyed a case of stability under the leadership of the Communist Party of Vietnam.
“Economically, we have emerged as one of the most dynamic economies in the region, with GDP growth rate recording over 7 percent in 2024 and expected to reach 8 percent this year.
“Vietnam has become an attractive destination for foreign investments, with registered FDI reaching nearly 40 billion US dollars in 2024.”
Sri Lanka set up an embassy in Vietnam in 2003 and Vietnam re-opened an embassy in Colombo in 2011.
“Over the past five and a half decades, our partnership has steadily evolved, guided by mutual respect, shared values, and a deep sense of solidarity,” Minister Herath said.
“Our two nations have consistently nurtured meaningful engagement through high-level exchanges, institutional cooperation mechanisms, and nearly 40 bilateral agreements across diverse sectors such as trade, education, agriculture, and defence.
“With stable trade relations and promising prospects for further collaboration, our relationship stands on a strong foundation.
“As we look ahead, we are committed to expanding this partnership into new and emerging domains, while continuing to work closely in regional and multilateral fora to uphold peace, security, and sustainable development.” (Colombo/Aug20/2025)
