Deputy PM Pham Gia Tuc:

Vietnam: One of the Most Dynamic Markets in the World Economy

The Socialist Republic of Vietnam is one of the world’s most dynamically developing economies. Its population is approaching 100 million; GDP stands at approximately $ 510 billion; and in 2025 the economy grew by around 8 percent — the best figure among ASEAN (Association of Southeast Asian Nations) member states. The country has a young population and a dynamic consumer audience oriented toward digital services. Vietnam is steadily consolidating its position as a regional hub for high-technology manufacturing; the focus of state policy is digital transformation, technology development, and green energy.


Russia-Vietnam Partnership Moves to a New Level

The year 2025 marked a watershed in bilateral relations for several reasons: the 75th anniversary of the establishment of diplomatic ties between the two countries; the 80th anniversary of Victory in the Great Patriotic War; and the 50th anniversary of the liberation of South Vietnam and the reunification of the country.

General Secretary of the Central Committee of the Communist Party of Vietnam To Lam visited Moscow from 8 to 11 May 2025. The Vietnamese leader participated in the ceremonial events marking the 80th anniversary of Victory and held talks with Vladimir Putin lasting approximately three hours. The visit concluded with the signing of a Joint Declaration on the Main Directions of Russia-Vietnam Relations of Comprehensive Strategic Partnership at a New Stage.

The positive momentum of bilateral contacts continued into 2026. In January, Prime Minister Mikhail Mishustin and Prime Minister of Vietnam Pham Minh Chinh approved a plan for developing bilateral relations through 2030, setting a trade turnover target of $ 15 billion by that year. From 22 to 25 March 2026 PM Pham Minh Chinh paid an official visit to Russia, concluding with the signing of an intergovernmental agreement on the construction of Vietnam’s first nuclear power station — Ninh Thuan‑1 — using Russian VVER‑1200 Generation III+ reactors (the VVER‑1200: Rosatom’s flagship pressurised water reactor with passive safety systems, commercially deployed at the Leningrad and Novovoronezh NPPs). President Putin promised to visit Vietnam in 2026.


AFK Sistema: Russia’s Leading Partner in the Cooperation Agenda

AFK Sistema’s systematic engagement with Vietnam was initiated in 2025: on 11 May, during General Secretary To Lam’s visit to Moscow, he met with AFK Sistema Board Chairman Vladimir Yevtushenkov (AFK Sistema — Joint Stock Financial Corporation Sistema, one of Russia’s largest diversified holding companies, with assets spanning telecommunications, healthcare, agriculture, real estate, and technology). The meeting was followed by an invitation to visit Vietnam.

In January 2026 an AFK Sistema delegation led by Vladimir Yevtushenkov paid a working visit to Vietnam. The programme featured an unprecedented roster of interlocutors: Prime Minister Pham Minh Chinh; Minister of Public Security General Luong Tam Quang; Minister of Health Dao Hong Lan; Secretary of the Hanoi City Party Committee Nguyen Dieu Ngoc; Secretary of the Ho Chi Minh City Party Committee Tran Lieu Quang; and the heads of Vietnam’s largest private corporations. The Prime Minister welcomed the development of projects in Vietnam by 'Russia's largest private corporation' in sectors of strategic importance to both countries.

A memorandum of understanding was signed with the Vietnam Academy of Science and Technology, and AFK Sistema announced its intention to open a representative office in the country in 2026 — which it has since done. Priority areas of engagement cover information technology, cybersecurity, pharmaceuticals, medicine, hydrogen technologies, and fintech.

AFK Sistema is also interested in developing cultural exchanges — in the arts, cinema, and national cuisine. The Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam to Russia, Dang Minh Khoi, is helping to build dialogue with Vietnamese partners. In April 2026 a Vietnamese Culture Week was held at AFK Sistema’s Moscow offices, showcasing national culinary traditions — an event that was warmly received by a Russian audience.

During Prime Minister Pham Minh Chinh’s official visit to Russia in March 2026, Vladimir Yevtushenkov held a second meeting with him. AFK Sistema representatives participated in the Vietnam-Russia Business Forum on 24 March (over 250 participants). In May 2026 a delegation led by Vietnam’s Minister of Public Security Luong Tam Quang visited Russia, at the conclusion of which a number of agreements were signed.


SPIEF‑2026: Meeting with Standing Deputy Prime Minister Pham Gia Tuc

The next important milestone of the bilateral dialogue is the St. Petersburg International Economic Forum. In April 2026 the National Assembly of the Socialist Republic of Vietnam approved the new Government composition for 2026−2031. The Vietnamese delegation at the Forum is headed by Standing Deputy Prime Minister Pham Gia Tuc — a member of the Politburo of the Central Committee of the Communist Party of Vietnam (CPV). A meeting between Mr Tuc and the AFK Sistema delegation is also scheduled within the forum framework.

Pham Gia Tuc was born in 1965 in Ninh Binh Province. He holds a Master’s degree in public administration and a Bachelor’s in economics. Before his current appointment he served as Vice-President of the Vietnam Chamber of Commerce and Industry (VCCI) and Deputy Secretary of the Can Tho City Party Committee.

In August 2025 the CPV Central Committee Politburo appointed him Head of the Central Party Office. In January 2026, at the first plenary session of the 14th CPV Central Committee, Pham Gia Tuc was elected to the Politburo. On 8 April 2026 the National Assembly confirmed him as Standing Deputy Prime Minister.

In May 2026 he was appointed to head the newly created Government Negotiating Group on International Economics and Trade — effectively placing under his direct authority the task of structuring Vietnam’s economic engagement with key international partners, including the Russian Federation.