TEHRAN — The Vietnamese Embassy in Iran on the evening of September 27 hosted a Vietnam–Iran Business Networking Event at its embassy in Tehran, bringing together more than 50 businessmen active in different fields.
Mr. Sunny, First Secretary of the Embassy, said in the opening remarks: Vietnam should be seen not only as a market but as a strategic platform. It can serve as a bridge between Iranian businesses and ASEAN, while Iran can offer Vietnamese firms access to its market and the wider region. Vietnam is now embedded in global manufacturing and supply chains, with geographic advantages, ASEAN links, and extensive maritime access. Its trade combines manufacturing strength with competitive agriculture and food processing. This creates complementarity: Vietnamese goods for Iran, and Iranian raw materials, petrochemicals, agricultural products, and other goods for Vietnam. Existing bilateral trade is limited relative to potential, so the goal is not merely to increase volume but to build new channels, direct company contacts, and practical solutions for logistics, standards, payment, and market access. Agriculture offers immediate opportunities—coffee, cashew, pistachios, dried fruits, petrochemicals, fertilizers, minerals, and handicrafts. He proposed a focused, results-oriented business mission to Vietnam with pre-arranged B2B meetings, meetings with VCCI and Iran’s embassy, cooperation with Vietnam Persian Market, and visits to Cai Lan port/Ha Long and Ho Chi Minh City. Regional connectivity, he stressed, matters as much as individual markets. Let us build practical business bridges.
‘Concrete results’ are foundation for sustainable Vietnam–Iran trade: Ambassador Nguyen Luong Ngoc
Then came the speech by H.E. Nguyen Luong Ngoc, Ambassador of Vietnam to Iran, its full text appears below:
Distinguished Guests,
Representatives of Iranian business associations and the business community,
First of all, on behalf of the Embassy of Viet Nam in Iran, I would like to warmly welcome and thank all of you for taking the time to attend today’s business networking event.
I am particularly pleased to see that many of you here today already have business relations with Viet Nam, have imported and distributed Vietnamese products, or are actively exploring new opportunities for cooperation with Vietnamese companies.
Therefore, today I do not wish merely to introduce Viet Nam’s potential. I would like us to look together at what Viet Nam has achieved, at the trade activities that are actually taking place between our two countries, and, at the same time, to have a frank exchange on the current difficulties and on what both sides can do together to maintain and further develop our business relations.
Dear friends,
First, allow me to share a few highlights regarding Viet Nam’s economic development. Despite considerable volatility in the global economy in recent years, Viet Nam has maintained macroeconomic stability and achieved relatively high economic growth.
In 2025, Viet Nam’s GDP grew by 8.02%. The size of the economy reached approximately USD 514 billion, an increase of around USD 38 billion compared with 2024. GDP per capita exceeded USD 5,000. Notably, growth was recorded across all three major sectors of the economy. Industry and construction grew by nearly 9%, with manufacturing and processing continuing to serve as one of the important drivers of growth. The services sector expanded by more than 8.6%.
International trade continues to be one of the major strengths of the Vietnamese economy. Total merchandise import-export turnover in 2025 reached approximately USD 930 billion, an increase of more than 18% over the previous year. Viet Nam continued to record a trade surplus, marking ten consecutive years of trade surpluses. This achievement is partly attributable to Viet Nam’s network of 17 Free Trade Agreements, which provide preferential tariff access to 60 economies, including most of the world’s major economies.
Also within last year, total registered foreign investment in Viet Nam reached approximately USD 38.4 billion; and there were 21.2 million international visitors coming to our country. In particular, disbursed FDI reached approximately USD 27.6 billion, up 9% from the previous year and the highest level recorded in the past five years.
These figures demonstrate that Viet Nam is not only a market of more than 100 million people, but is also continuing to strengthen its position as a manufacturing and export hub and an important link in regional supply chains. Viet Nam aims to become a high-income developed country by 2045. To achieve this goal, Viet Nam is targeting annual economic growth of 10% or higher.
Alongside manufacturing and processing, agriculture and the food industry remain among Viet Nam’s key strengths. Viet Nam is currently one of the world’s major producers and exporters of a wide range of products, including coffee, pepper, cashew nuts, rice, tea, seafood, fruits and vegetables, and processed food products. These are also areas in which I believe Viet Nam and Iran still have considerable room to expand cooperation.
Distinguished Guests,
Viet Nam and Iran enjoy a long-standing traditional friendship. The two countries established diplomatic relations in 1973 and, for more than half a century, have maintained good relations across many fields. In the economic and trade sectors, exchanges of goods between the two countries have continued despite the difficulties arising from the regional and international situation.
According to customs statistics, in 2025, total direct merchandise trade between Viet Nam and Iran reached approximately $170 million, of which Viet Nam’s exports to Iran amounted to around USD 150 million, while imports from Iran stood at approximately $20 million. However, when assessing these figures, we should also take into account an important characteristic of bilateral trade.
Customs statistics on direct trade between Viet Nam and Iran do not fully reflect the actual scale of transactions and flows of goods between the two economies. This is also one of the reasons why we believe that the actual potential for bilateral trade is considerably greater than what is reflected in official statistics.
Vietnamese products that have been and are currently traded in the Iranian market include coffee, pepper, cashew nuts, tea, seafood, certain food products and consumer goods. In the other direction, Viet Nam also has demand for products in which Iran has strengths, including chemicals, petroleum products, plastics and raw materials, metals, pharmaceuticals, as well as certain distinctive Iranian agricultural products.
Among Vietnamese products, I would particularly like to highlight coffee. Viet Nam is the world’s second-largest coffee producer and exporter and has a particularly strong position in Robusta coffee. In addition to green coffee beans, Vietnamese companies are increasingly developing higher value-added products such as roasted and ground coffee, instant coffee, packaged coffee and private-label products for their customers.
Iran has a well-developed beverage culture, and demand for coffee is continuing to grow. I therefore believe that this is a highly promising area in which businesses from our two countries can build long-term partnerships rather than limiting cooperation to individual transactions.
In addition to coffee, Vietnamese pepper, cashew nuts and tea – products in which Viet Nam ranks among the world’s leading exporters – are already present in the Iranian market and still have considerable potential for further growth.
Importantly, we should not limit ourselves to simply buying and selling raw materials. The two sides can go further by cooperating in processing, roasting, packaging, branding, distribution and the development of products tailored to the preferences of Iranian consumers.
Another area of great importance to bilateral relations is air connectivity and tourism.
Geographical distance has always been one of the obstacles to exchanges between Viet Nam and Iran. Therefore, efforts to promote direct air connectivity between the two countries are important not only for tourism but also for trade, investment and people-to-people exchanges.
Viet Nam is becoming an increasingly well-known tourism destination in Asia. Meanwhile, Iran possesses an ancient civilization, a rich cultural heritage and many unique destinations that Vietnamese people have not yet had many opportunities to explore.
20. If we can strengthen and maintain more convenient air connectivity between our two countries, I believe that the number of tourists, businesspeople and trade delegations travelling in both directions will increase significantly. When people are able to meet more frequently, trade and investment will certainly have greater opportunities to develop.
Dear friends,
Alongside these opportunities, we must also frankly acknowledge that trade between Viet Nam and Iran currently faces a number of difficulties.
First is payment. This remains one of the greatest obstacles for businesses in both countries. The lack of direct banking payment channels makes many transactions more complicated, more costly and more exposed to risk.
Second is transportation and logistics. The geographical distance is already considerable, while recent developments in the region have significantly affected shipping routes, vessel schedules, delivery times and logistics costs. These issues directly affect the competitiveness of goods.
Third are procedures and technical requirements applicable to goods, particularly agricultural and food products. Businesses on both sides need clearer information on standards, quarantine and sanitary requirements, product registration, labelling and import procedures in order to avoid additional costs and delays after goods have already arrived at the port.
Fourth are commercial risks and the verification of business partners. When transactions face difficulties related to payment and transportation, choosing the right partners, clearly defining responsibilities in contracts, and maintaining direct communication between buyers and sellers become even more important.
In my view, these are not issues that can be resolved through a single meeting or trade promotion event. However, we can certainly address them step by step if businesses and relevant authorities of both countries work together in a practical and effective manner.
For its part, the Embassy of Viet Nam in Iran would like to focus on several concrete areas.
First, we will continue to directly connect businesses in the two countries that have genuine commercial needs, particularly in coffee, tea, pepper, cashew nuts, food products and other agricultural commodities.
Second, we stand ready to assist Iranian businesses in identifying and verifying suitable suppliers in Viet Nam, while also supporting Vietnamese businesses in identifying and selecting capable partners in Iran.
Third, both sides should promote the exchange of information on import regulations, quarantine requirements, quality standards, logistics and payment methods, enabling businesses to fully assess potential risks before signing contracts. For products that already have established trade flows, such as coffee, pepper, cashew nuts and tea, we would like to gradually move from individual transactions towards stable and long-term supply relationships, while encouraging cooperation in processing, packaging and brand development in the Iranian market.
Fifth, Viet Nam offers a promising destination for direct investment by Iranian businesses to manufacture products that can be exported to markets across 60 economies. The Government of Viet Nam welcomes foreign investors and is committed to creating favorable conditions for their investment and business activities. The consideration and issuance of investment licenses generally takes between 5 and 15 working days, except for certain special projects for which the approval process may take longer.
30. Finally, we hope that the authorities and business communities of both countries will continue to promote air connectivity and tourism and facilitate visa issuance, as these constitute an important foundation for expanding economic exchanges between Viet Nam and Iran.
Dear friends,
I believe that, under the current circumstances, the most important thing is not to set overly ambitious targets, but rather to maintain existing trade flows, address the specific difficulties faced by businesses, and gradually build trust between partners in our two countries.
A container of coffee successfully delivered, a pepper contract safely completed, an Iranian company finding a reliable supplier in Viet Nam, or a Vietnamese company finding a good distributor in Iran – concrete results such as these are the foundation upon which sustainable bilateral trade relations can be built.
I hope that today’s event will not only be an opportunity for us to meet and enjoy Vietnamese coffee and other Vietnamese products, but, more importantly, that it will lead to direct discussions, new connections and concrete business opportunities between companies from our two countries.
The Embassy of Viet Nam in Iran will continue to accompany and serve as a bridge in support of these efforts.
I wish all of you good health and success, and I wish for the continued development of the friendship, economic cooperation and trade relations between Viet Nam and Iran.
Thank you very much.
Vietnam has risen like a Phoenix: ICCIMA vice chairman
Ghadir Qiafeh, vice chairman of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), was the next speaker. He said that when he visited Vietnam several years ago, he was astonished by the country’s development and progress, and by the efforts of its people.
“I saw that Vietnam, like a phoenix, has risen from the ashes of war, spreading its wings, emerging, and soaring into flight,” he said.
There are many fields for cooperation between the two countries, he noted, and through joint investment they can take significant steps together.
Looking into Vietnam’s trade statistics, he found that the country’s eight-month trade had reached $770 billion. “It is a very big figure for a South Asian country,” he said.
Despite the economic capabilities of Iran and Vietnam, bilateral trade remains very low, he said. The figure stands at $170 million, of which $140 million is Vietnam’s exports to Iran and $20 million is Iran’s exports to Vietnam.
Iran enjoys huge sources of energy and a special strategic location, Qiafeh said, and it could have been the hub for Vietnamese products in the region. Vietnam, meanwhile, enjoys a vast trade network and export market, and both sides should benefit from this by playing a key role in Asia’s value chain. The cooperation approach, he stressed, should be win-win.
The private sector can play a significant role in expanding relations between the two countries, he added.
Transportation and logistics are very important in bilateral trade ties, Qiafeh said. The establishment of a database for traders and businessmen is also very important, to provide knowledge about the other country’s market.
He called for strengthening ties between ICCIMA and the Vietnam Chamber of Commerce and Industry (VCCI).
“I wish we see a noticeable leap in the expansion of economic relations between Iran and Vietnam,” he concluded.
25 years of friendship, and a direct flight at last
Meysam Sadri, from the Iran–Vietnam Friendship Association, was the next speaker. He said the association has been active for over 25 years and has offices in Hanoi and Ho Chi Minh City.
The association is multipurpose and active in different areas, including cultural, social and economic fields, he noted.
After 15 years of follow-up, he said, the association finally achieved the establishment of a direct flight between Iran and Vietnam.
Business dialogue and dinner
After the speeches, several participating businessmen addressed the gathering, and a question-and-answer session followed.
A dinner was then served, during which businessmen had the opportunity to become better acquainted and explore new partnerships.
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