During a working trip to Sri Lanka from December 7 to 10, 2025, where she co-chaired the third meeting of the Vietnam - Sri Lanka Joint Subcommittee on Trade, Deputy Minister of Industry and Trade Phan Thi Thang and a delegation of officials and Vietnamese businesses carried out a series of important activities aimed at deepening bilateral cooperation and fostering stronger business-to-business links between the two countries.

Working session with the Sri Lankan Minister: Advancing measures to facilitate bilateral trade

At the meeting, Sri Lanka’s Minister of Trade, Food Security and Development Cooperation welcomed Deputy Minister Phan Thi Thang and the Vietnamese delegation, affirming that Vietnam remains a partner of great potential in Southeast Asia. Deputy Minister Thang expressed appreciation for the warm reception and conveyed Vietnam’s sympathy over the severe impacts of recent heavy rains and flooding in Sri Lanka, stressing that Vietnam understands such challenges as it also frequently faces natural disasters.

During the discussions, the Deputy Minister outlined three priority areas for cooperation.

First, she called on Sri Lanka to ease and make more transparent its import licensing mechanism applied to more than 400 items, many of which are key Vietnamese export products.

Second, she urged efforts to expand market access for Vietnamese rice, seafood and food products, while enhancing coordination to remove technical barriers.

Third, regarding investment cooperation, she noted Sri Lanka’s strong interest in attracting foreign investment and said Vietnam will encourage capable enterprises to explore opportunities in infrastructure, logistics and industrial zones. She also requested clearer information on incentives and project access conditions to ensure effective cooperation.

Both sides agreed to maintain high-level exchanges, strengthen coordination among relevant agencies and bolster support mechanisms for businesses, with a shared goal of raising bilateral trade to USD 1 billion in the near future.

Working session with Hayleys Group: Expanding cooperation in agriculture, logistics and renewable energy

As part of the working trip, Deputy Minister Phan Thi Thang, together with the Ambassador of Vietnam to Sri Lanka and the inter-agency delegation of Vietnamese ministries and enterprises, held a meeting with Hayleys Group, one of Sri Lanka’s largest and most influential conglomerates.

Hayleys Group expressed strong interest in partnering with Vietnamese businesses in several priority sectors.

First, in agriculture and agro-processing, the group highlighted Vietnam’s strengths in rice, coffee, cashew nuts, pepper, fruit and seafood. The two sides see potential for cooperation in supply distribution chains, joint ventures in deep processing in either Vietnam or Sri Lanka, and regional supply chain connectivity.

Second, in logistics and supply chains, Vietnam continues to serve as a major production and logistics hub in ASEAN, while Sri Lanka holds a strategic gateway position in the Indian Ocean. Opportunities include developing direct shipping routes, investing in warehousing and transshipment centers, and establishing a Vietnam - Sri Lanka - South Asia logistics linkage model.

Third, in renewable energy and sustainable development, the two sides discussed prospects for policy exchanges, technology cooperation and joint research in solar power, wind power, emission reduction and green industrial models.

The Deputy Minister welcomed Hayleys’ proactive approach and called on the group to work closely with the Vietnamese Embassy in Sri Lanka, the Vietnam Trade Office in India (accredited to Sri Lanka) and Vietnamese enterprises in the delegation to accelerate concrete areas of cooperation for implementation in 2026. Immediately after the meeting, Hayleys Group dispatched a mission to conduct field assessments in the Vietnamese market.

Vietnam - Sri Lanka business forum

As part of the working trip, Deputy Minister Phan Thi Thang chaired the Vietnam - Sri Lanka Business Forum on the afternoon of December 9. The event was co-organised by the Ministry of Industry and Trade, the Vietnamese Embassy in Sri Lanka and the Ceylon Chamber of Commerce, attracting more than 100 Sri Lankan and Vietnamese companies.

In her opening remarks, the Deputy Minister stressed that businesses are the “central drivers” of bilateral economic cooperation. The governments of both countries, she said, bear the responsibility of facilitating stronger business connectivity, partnerships and market expansion. She affirmed that Vietnam stands ready to support Sri Lankan enterprises through trade promotion programmes, fairs and exhibitions, market-survey missions and B2B networking activities organised by the ministry and Vietnam’s representative mission in Sri Lanka.

Representatives of Vietnamese ministries and agencies in the delegation provided detailed information and clarified cooperation potential, market scale, production capacity and opportunities for supply-chain expansion with Vietnam. Their presentations focused on six priority sectors of Sri Lankan interest: (1) trade and investment, (2) agriculture, agro-processing and aquaculture, (3) manufacturing and processing industries, (4) textiles and footwear, (5) logistics, transport and warehousing, and (6) machinery, equipment and agricultural technologies.

The presentations offered Sri Lankan companies a comprehensive overview of Vietnam’s production and export strengths, as well as potential avenues for business matching aligned with Sri Lanka’s domestic market needs and industrial development orientation.

Vietnam has become a major regional hub for production and exports, with strong capabilities in electronics, textiles, footwear, agricultural products, seafood, wood and furniture, and fast-moving consumer goods. The country’s logistics system, seaports and trade infrastructure are being continuously upgraded, helping reduce transport costs and shorten delivery times to South Asia. Vietnamese agriculture provides stable supply capacity, from rice, coffee, fruit, pepper and cashew nuts to processed seafood meeting global quality standards.

Meanwhile, supporting industries and the production of machinery and equipment are expanding rapidly, creating opportunities for cooperation in manufacturing, technology transfer, distribution and industrial equipment trade. Vietnam remains an attractive investment destination, backed by a stable business environment, preferential policies and the region’s most extensive FTA network.