Vietnam and Azerbaijan are forging a closer economic partnership centred on innovation ecosystems and expanding bilateral investment, particularly within the digital economy. This strategic thrust was clearly articulated at the Vietnam-Azerbaijan Business Forum 2025 held in Hanoi, which brought together business leaders, investors, and government officials to forge sustainable growth paths underpinned by digital transformation and globalisation.
The forum focused on deepening collaboration across key sectors including logistics, energy, technology, e-commerce, healthcare, and education. It showcased innovative models like the “E-SME House,” a startup support centre designed to nurture national entrepreneurial ecosystems. The event also advanced plans to institutionalise the Vietnam-Azerbaijan Startup and Investment Forum as an annual platform for strategic dialogue and partnership development.
Vietnam’s Deputy Minister of Industry and Trade, Nguyen Hoang Long, highlighted the positive trajectory of bilateral trade, which surpassed US$100 million in the first quarter of the year. He pointed to complementary strengths between the countries: Vietnam’s robust exports of processed and high-quality agricultural products could meet growing demand in Azerbaijan, while Azerbaijan’s energy sector, including oil and renewable energy projects, offers promising avenues for cooperation. Notably, recent agreements seek to explore joint oil and gas ventures, expanding the energy dimension of their partnership.
Infrastructure cooperation also took centre stage, with commitments to enhance transportation networks by improving rail, road, air, and maritime links. The partnership aims to leverage Azerbaijan’s strategic location along the Caspian Sea to boost connectivity and facilitate smoother trade flows between the two countries. Azerbaijan’s ongoing economic diversification, supported by free zones and industrial parks, further underscores its attractiveness as an investment destination and partner.
Beyond the business realm, the forum reflected a shared commitment to international cooperation in innovation and technology. Azerbaijan’s recent memorandum of understanding on digital development aligns well with Vietnam’s national digital transformation goals, reflecting both countries’ ambition to become regional innovation hubs. This synergy is in line with Vietnam’s broader strategic vision as outlined in Resolution 57-NQ/TW, which emphasises breakthroughs in science, technology, and digital economy development towards nurturing a vibrant business ecosystem by 2030.
The forum also echoed broader governmental efforts to boost bilateral relations. At the third meeting of the Vietnam–Azerbaijan Intergovernmental Committee on Economic–Trade and Scientific–Technical Cooperation, both sides identified 17 priority areas for cooperation for 2025–2027. These include emerging sectors such as renewable energy, energy transition, information and communication technology, semiconductors, artificial intelligence, cloud computing, green transformation, and the circular economy. The framework reflects a comprehensive and forward-looking approach to bilateral engagement, extending from enhancing high-level visits and economic forums to facilitating investment and trade forums within the Vietnam–Azerbaijan Business Council.
Energy cooperation remains a cornerstone of this growing strategic partnership. Vietnam has expressed interest in expanding collaboration beyond traditional oil and gas to include renewable energy, liquefied natural gas (LNG), technical training, and technology transfer in new energy fields such as hydrogen. This dimension complements the Memorandum of Understanding on Energy Cooperation signed earlier in 2025 and signals a mutual commitment to sustainable and innovative energy solutions.
High-level political ties underpin these expanding economic links. The elevation of Vietnam-Azerbaijan relations to a strategic partnership following talks between senior leaders further strengthens bilateral cooperation mechanisms and opens new frameworks for deepening ties. Both countries have committed to promoting high-level visits, enhancing multilateral exchanges, and creating new cooperation mechanisms across ministries and localities, ensuring that this partnership yields practical benefits for their peoples and contributes to regional peace and prosperity.
Recent engagements at the ministerial level also highlight the focus on digital transformation and IT collaboration. Meetings between Azerbaijan’s Minister of Digital Development and Transport and Vietnam’s Minister of Science and Technology have set the tone for increased cooperation in cybersecurity, advanced technologies, and IT infrastructure development. Discussions also explored opportunities for Vietnamese IT companies to enter the Azerbaijani market, underscoring the ambition for cross-border innovation and investment flows.
Overall, the Vietnam-Azerbaijan economic and innovation partnership is gaining momentum through well-designed frameworks, diverse cooperation fields, and high-level political support. By integrating their economic strengths and digital ambitions, both countries are setting the stage for a more interconnected and technologically progressive bilateral relationship in the years ahead.
Source: Noah Wire Services
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