Unlocking Europe’s Smallest Country: A Partnership for Channeling Hundreds of Billions of Dollars into Vietnam

This is a model of a smart port operation.

As part of his official visit to Estonia (the smallest country in Europe), on June 5th (local time), Prime Minister Pham Minh Chinh and his spouse visited Tallinn Port.

Tallinn Port is located in northern Estonia, facing the Gulf of Finland. It is a crucial port for international trade, cargo and passenger transportation, especially in the development of tourism and Estonia’s defense industry.

In recent years, Tallinn Port has focused on a strategy of sustainable development and digitization, including a green transition, carbon emissions reduction, renewable energy use, port system electrification, and the development of a smart port that utilizes artificial intelligence, IoT sensors, and blockchain technology to automate logistics processes and enhance operational efficiency.

With its multimodal connectivity, linking sea, rail, road, and air transportation, Tallinn Port is gradually establishing itself as an integrated transport hub in the Baltic region. It also serves as a crucial node in international transport corridors such as the North Sea-Baltic Corridor, which is part of the EU’s TEN-T network.

Notably, due to its waters remaining ice-free for most of the year, Tallinn Port can operate year-round without interruptions, providing a significant advantage over many other ports in Northern Europe.

Tallinn Port is currently one of Estonia’s largest state-owned enterprises and is listed on the Nasdaq Tallinn Stock Exchange. Its operations not only generate significant revenue for the national budget but also directly and indirectly provide employment for tens of thousands of people in logistics, tourism, construction, and trade.

Prime Minister proposes cooperation in building an international seaport in Vietnam

Speaking with Tallinn Port’s leadership, Prime Minister Pham Minh Chinh shared that Vietnam possesses a coastline of over 3,000 kilometers, strategically located on international maritime transport routes, with over 60% of global and regional cargo volume passing through. In 2024, Vietnam’s import and export turnover reached nearly USD 800 billion.

With a plethora of scenic landscapes and a unique culture, Vietnam attracts tens of millions of tourists annually. In 2024, the country welcomed 17.6 million international visitors. Notably, tens of thousands of multinational tourists arrive in Vietnamese ports each year on luxury international cruise ships.

According to the Prime Minister, Vietnam has been developing its seaport system and infrastructure, including large-scale international gateway ports such as Lach Huyen, Van Phong, Cai Mep – Thi Vai, and Can Gio, as well as ports serving tourist ships in Ha Long, Da Nang, Nha Trang, and Phu Quoc.

Given Vietnam’s potential for developing international seaports to serve cargo and tourist transportation, the Prime Minister highly appreciated Estonia’s advanced logistics and transportation technology. Therefore, he proposed that Tallinn Port cooperate with Vietnam in building an international seaport, suggesting various forms of cooperation, including investment, technology transfer, digitization, management science, and port operations, with a spirit of “mutual benefit, harmonious interests, and shared risks.”

On this occasion, in the presence of the Prime Minister, Vietnam Maritime Corporation (VIMC) exchanged and signed a Memorandum of Understanding (MOU) with Tallinn Port for cooperation in smart port technology transfer. This strategic collaboration will contribute to the modernization of port operations, enhance operational efficiency, and demonstrate the potential and opportunities for cooperation between the two countries.

Vietnam and Estonia established diplomatic relations in 1992. In 2024, bilateral trade turnover between the two countries reached 73.8 million USD. Currently, there are approximately 30 Vietnamese citizens residing in Estonia, mainly in the capital city of Tallinn, engaged in small businesses and labor.