Vietnamese Prime Minister Nguyen Tan Dung will today sign a tax pact with Ireland during a two-day visit.
The agreement ensures that businesspeople operating in both countries will only pay tax in one jurisdiction.
The pact was one of three double taxation agreements approved by the Government at a Cabinet meeting on February 26th. The other countries benefiting are Moldova and Georgia.
The Vietnamese premier will also sign a Memorandum of Understanding on overseas development co-operation, at Government Buildings after talks with Taoiseach Bertie Ahern.
Irish Aid will be spending €22.6 million in development aid in Vietnam during this year. The funding is part of a €87.53 million allocation between 2007 and 2010.
The premier also visited Vietnamese students at UCD where he was hosted by UCD president Dr Hugh Brady and Minister for Overseas Development Michael Kitt.
Mr Tan Dung also paid a courtesy call on Leinster House and met with Ceann Comhairle John O'Donoghue.