National Assembly Chairman Vuong Dinh Hue: Making economic, trade and investment cooperation a pillar of cooperation between Vietnam and China

Attending the forum were comrade Bui Thi Minh Hoai, Secretary of the Party Central Committee, Head of the Central Mass Mobilization Commission; Party Central Committee members: Senior Lieutenant General Tran Quang Phuong, Vice Chairman of the National Assembly ; Deputy Prime Minister Tran Luu Quang, along with members of the high-ranking Vietnamese delegation and representatives of the National People's Congress of China, leaders of Shanghai city and about 400 delegates representing the business communities of the two countries.

Chủ tịch Quốc hội Vương Đình Huệ phát biểu tại Diễn đàn Chính sách, pháp luật thúc đẩy hợp tác đầu tư và thương mại Việt Nam - Trung Quốc. Ảnh: LÊ TUYẾT — National Assembly Chairman Vuong Dinh Hue speaks at the Forum on Policies and Laws to Promote Vietnam-China Investment and Trade Cooperation. Photo: LE TUYET

Speaking at the forum, National Assembly Chairman Vuong Dinh Hue pointed out the factors that help Vietnam and China strengthen cooperation in the fields of economics , trade and investment such as: Both countries have open economies with exports playing an important role, and have the capacity to adapt to international trade principles; the two economies are compatible, connected and complementary to each other; the two sides have the same perception and support each other in many cooperation mechanisms such as the Community of Sharing the Future of Mankind, Belt and Road, Global Development, Global Security and Global Civilization... The two sides also continue to be active members of many multilateral cooperation mechanisms such as the cooperation mechanisms between ASEAN and China and many signed investment encouragement and protection mechanisms... The National Assembly Chairman said that businesses of the two countries have a full legal framework and favorable conditions to connect trade and cooperation, to become important links in the regional and global supply chain.

Các đại biểu tham dự Diễn đàn Chính sách, pháp luật thúc đẩy hợp tác đầu tư và thương mại Việt Nam - Trung Quốc. Ảnh: LÊ TUYẾT — Delegates attending the Forum on Policies and Laws to Promote Vietnam-China Investment and Trade Cooperation. Photo: LE TUYET

In that spirit, the National Assembly Chairman suggested a number of orientations to further promote the potential and strengths of both sides, making economic, trade and investment cooperation a true pillar of cooperation between the two countries. First of all, strengthening cooperation between the National Assembly, Government and localities of the two countries to share experiences in building policies and laws on enterprises, business investment to adapt to the rapid changes of science, technology and the current international environment.

In addition, promoting the connection of the two economies in the spirit of "win-win, mutual benefit", especially concretizing the results of the recent visit to China by General Secretary Nguyen Phu Trong and the visit to Vietnam by General Secretary and President of China Xi Jinping, especially implementing the cooperation plan connecting the "Two Corridors, One Belt" framework with the "Belt and Road" Initiative; researching the construction of standard gauge railways Lao Cai - Hanoi - Hai Phong, Lang Son - Hanoi, Mong Cai - Ha Long - Hai Phong; memorandums of understanding on cooperation in the fields of green development, digital economy, digital transformation, digital data, etc.

Vietnam welcomes Shanghai investors as well as Chinese investors to invest in areas such as: Science and technology innovation, research and development, green economy, digital economy, circular economy, knowledge economy, artificial economy, digital transformation, financial centers, green finance, strategic infrastructure development of airports, seaports, highways, high-speed railways, urban railways, electronic components, electric cars, artificial intelligence, smart agriculture, high-tech agriculture... Emphasizing that these are industries and fields in which Shanghai enterprises in particular and China in general have experience and strengths, and Vietnam has demand and development potential, the National Assembly Chairman hopes that Chinese investors will strengthen cooperation in technology transfer, improve production capacity, and bring Vietnamese enterprises, especially small and medium-sized enterprises, deeper into the global commodity value chain.

At the same time, promote cooperation mechanisms between Government to Government (G2G), Association to Association and Business to Business (B2B) to promote and unblock trade and investment flows, promoting the strengths of each country in the new context. Relevant Chinese agencies continue to facilitate bilateral cooperation activities, accelerate the progress of opening the market for agricultural products, aquatic products, processed foods and improve customs clearance efficiency to minimize trade congestion at border gates.

The National Assembly Chairman affirmed that the Vietnamese National Assembly is committed to always listening and building a transparent, fair, and comprehensive legal framework, creating favorable conditions for foreign investors in general and Chinese enterprises in particular to do business smoothly and successfully in Vietnam.

Earlier, in his welcoming speech to National Assembly Chairman Vuong Dinh Hue and delegates attending the forum, Deputy Chairman of the Shanghai People's Congress Standing Committee Tran Tinh introduced some of Shanghai's development achievements, Shanghai's cooperation activities with Ho Chi Minh City and stated that Shanghai welcomes more and more Vietnamese businesses, investors, people and students to invest, start businesses, study, travel... to increase the friendship of "mutual development, mutual win" between the two sides.

According to People's Army Newspaper

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