Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development, and International Cooperation, has signed a memorandum of understanding with Phan Thi Thang, Deputy Minister of Industry and Trade of Vietnam, aimed at deepening bilateral cooperation in economic development.
The signing took place during a summit chaired by Egyptian President Abdel Fattah El-Sisi and Vietnamese President Luong Cuong.
The MoU underscores the commitment of both countries to foster social and economic progress through sustainable development, enhancing friendship, and diversifying economic and international cooperation.
Key areas of collaboration include economic, trade, and investment fields, with an emphasis on opportunities in the digital economy, climate change and green development, renewable energy, industrial localisation, and logistics services.
Al-Mashat highlighted the vital role of the joint Egypt-Vietnam committee, which has held five sessions to date, as an effective platform for dialogue between governments and business communities. The new agreement seeks to build on this foundation by promoting policy dialogue, knowledge exchange, capacity building, and sharing best practices within a South-South cooperation framework.
During the visit, Al-Mashat also met with Vietnam’s Deputy Prime Minister to discuss implementation strategies for recent high-level agreements and preparation for the 6th session of the Joint Committee.
Egyptian-Vietnamese ties date back to the 1960s, with enduring diplomatic and economic relations reinforced through multiple joint agreements.
In 2017, El-Sisi became the first Egyptian head of state to visit Vietnam, a gesture that resulted in several cooperation documents aimed at strengthening bilateral ties. Vietnam is also a founding member of the Asian Infrastructure Investment Bank (AIIB), signalling its growing role in regional economic development.
