Photo: iStock
Ambassador Bui Le Thai
15/05/2025 06:00
The two countries have maintained close political relations through high-level visits and the signing of numerous cooperation agreements in key areas. In particular, in 2018, their relationship was elevated to a Comprehensive Partnership, strengthening their broader bilateral cooperation. Vietnam considers Hungary an important partner in Central and Eastern Europe, ready to serve as a gateway for Hungary to expand cooperation with ASEAN. Meanwhile, Hungary, with its “Eastern Opening” policy, has identified Vietnam as a priority partner in Southeast Asia.
Expanding potential
The economic relations between the two countries have developed strongly, with trade volume tripling from 2020 to 2022, reaching over 1 billion USD per year despite the impacts of the COVID-19 pandemic. In 2024, bilateral trade reached 932 million USD, a 10% increase compared to 2023. Vietnam exports agricultural products, textiles, and electronics to Hungary, while importing machinery, pharmaceuticals, and chemicals. Hungary's total investment in Vietnam is 72.36 million USD, while Vietnam has invested 5.8 million USD in Hungary, with a project worth more than 80 million USD currently in the investment permit stage. However, economic cooperation between the two countries has yet to fully match their potential, requiring better utilization of the EVFTA and existing cooperation mechanisms.
Enhancing knowledge and innovation
Education is a prominent field of cooperation. Hungary offers 200 scholarships each year for Vietnamese students, while also supporting high-quality human resource training, particularly in the operation of nuclear power plants.
In science and technology, Hungary has strengths in biotechnology, pharmaceuticals, environmental engineering, and is enhancing cooperation with Vietnam in research and technology transfer. The two countries are also developing cooperation in clean water, renewable energy, artificial intelligence (AI), and digital transformation.
Strengthening cultural ties
Culture plays a crucial role in enhancing mutual understanding and solidarity between the two peoples. Events such as Vietnamese Cultural Day in Hungary, art exhibitions, and film weeks help promote the image of both countries. Bilateral tourism is also growing, with a significant increase in the number of tourists.
The Vietnamese community in Hungary, with more than 7,000 stable residents and around 1,000 students, plays an important role as a bridge, contributing to the promotion of bilateral cooperation. Notably, Hungary is the only Central and Eastern European country to erect a full-length statue of President Ho Chi Minh in Zalaegerszeg, a testament to the enduring and profound friendship between the two nations.
After 75 years of strong development, Vietnam–Hungary relations are entering a new phase with many opportunities for deeper cooperation, especially in the fields of green economy, digital economy, energy transition, and innovation.
With a solid foundation and strong commitment from both sides, Vietnam and Hungary will continue to accompany each other for mutual prosperity, contributing to a peaceful and developing world. Hungary’s Foreign Minister has affirmed, "It is no exaggeration to say that the Hungary–Vietnam relationship is a success story." This story will undoubtedly continue to unfold with more substantive and effective cooperation in the future.