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| Prime Minister Pham Minh Chinh attends the Vietnam-China Investment and Trade Cooperation Forum on June 28 in Beijing, China. (Photo: Nguyen Hong) |
On the occasion of his official visit to the People's Republic of China, on the morning of June 28, in Beijing, Prime Minister Pham Minh Chinh attended the Vietnam-China Investment and Trade Cooperation Forum. The forum was organized by the China Council for the Promotion of International Trade and the Ministry of Planning and Investment of Vietnam.
Chinese Vice Premier Liu Guozhong; leaders of ministries, agencies and more than 350 enterprises from Vietnam and China attended.
Industry and Trade - The Pillar to Promote Trade Cooperation Between the Two Countries
At the Forum, representatives of ministries, sectors and enterprises of the two countries introduced the economic development situation; investment and business environment; investment attraction policies of each country; business and investment situation between Vietnamese and Chinese enterprises; and shared lessons and experiences in investment and business in each country.
Chinese Vice Premier Liu Guozhong thanked the Vietnamese and Chinese business communities for their important contributions to promoting bilateral cooperation.
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| Chinese Vice Premier Liu Guozhong speaks at the Forum. (Photo: Nguyen Hong) |
Deputy Prime Minister Liu Guo Zhong said that Vietnam and China are both socialist countries, sharing the same destiny, for the peace and progress of mankind. During General Secretary Nguyen Phu Trong's visit to China at the end of 2022, General Secretary and President Xi Jinping and General Secretary Nguyen Phu Trong agreed and set out the direction for the Vietnam-China Comprehensive Strategic Cooperative Partnership in the new era.
During his official visit to China, Prime Minister Pham Minh Chinh met with General Secretary and President Xi Jinping; held talks with Prime Minister Li Qiang and met with other senior Chinese leaders, aiming to further concretize and add momentum to the implementation of agreements and common perceptions between the two countries' senior leaders.
The Chinese Vice Premier said that political trust between Vietnam and China has been strengthened. Economic, trade and investment cooperation has maintained growth. Vietnam is China's fourth largest trading partner in the world; two-way trade turnover in 2022 will reach 175 billion USD.
China is ASEAN's largest trading partner, of which Vietnam is an active member, accounting for one-quarter of the total trade turnover between China and ASEAN. More and more Chinese enterprises are investing in Vietnam and Vietnam remains one of the largest investment destinations for Chinese enterprises in ASEAN.
Vice Premier Liu Guozhong said China is implementing its second centenary goal of becoming a modern socialist power that is prosperous, strong, democratic, civilized, harmonious and beautiful. Meanwhile, Vietnam is also implementing its goal of becoming a developed, high-income country by 2045.
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| The Vietnam-China Investment and Trade Cooperation Forum received attention from ministries, agencies and more than 350 enterprises from Vietnam and China. (Photo: Nguyen Hong) |
Nowadays, the world is changing faster, "China and Vietnam need to promote trade cooperation to a higher level, a new height", Mr. Liu Guo Zhong emphasized.
Promoting development connectivity between the two countries is of great significance. China is willing to work with Vietnam to fully implement the China-ASEAN Free Trade Agreement and promote balanced bilateral trade.
According to Deputy Prime Minister Liu Guozhong, the two countries still have much room for cooperation and supply chain development. China supports and will organize many activities to promote and cooperate in investment and business; prioritize green development, digital economy, and climate change adaptation; and encourage and create conditions for capable, reputable, and high-tech enterprises to invest in Vietnam.
The Chinese Vice Premier suggested that Vietnam continue to create favorable conditions and protect the legitimate interests of enterprises in general and Chinese enterprises in particular, for the development of each country in particular and for peace, security, prosperity, beauty and friendship in the ASEAN region and the world. The Chinese side is ready to work with Vietnam to implement multilateralism, "win-win, win-win".
He said that the business community is the main force in promoting economic cooperation between Vietnam and China and is also the beneficiary of the development of the Vietnam-China Comprehensive Strategic Cooperative Partnership. Therefore, he suggested that businesses continue to exchange, deepen mutually beneficial cooperation and contribute to fostering relations between the two countries.
Calling on Chinese businesses to invest in Vietnam
Speaking at the Forum, Prime Minister Pham Minh Chinh thanked Chinese Premier Li Qiang for his attention and direction, and Deputy Prime Minister Liu Guo Zhong for taking the time to attend and speak at the Forum; and requested the Ministry of Planning and Investment and the Ministry of Industry and Trade to promptly synthesize and absorb as much as possible the opinions at the Forum.
Regarding the Vietnam-China relationship, the Prime Minister said that after the visit of General Secretary Nguyen Phu Trong at the end of last year, the two countries' senior leaders established a cooperative relationship in the spirit of comprehensive partnership in the new era. Therefore, the Prime Minister said that there needs to be innovation in both guiding ideology, implementation organization, and operating mechanism.
According to Prime Minister Pham Minh Chinh, there should be a specialized working group on high-level agreements, how to deepen investment and trade cooperation, make practical and effective contributions to the comradely and brotherly relationship between the two countries.
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| Prime Minister Pham Minh Chinh speaks at the Vietnam-China Investment and Trade Cooperation Forum. (Photo: Nguyen Hong) |
In his speech, the head of the Government provided more information about some fundamental factors promoting Vietnam's development so that Chinese enterprises looking for investment opportunities in Vietnam can make more informed choices.
The Prime Minister said that Vietnam is currently setting a goal of becoming a developing country with modern industry and high middle income by 2030; and becoming a developed country with high income by 2045.
To achieve these goals, Vietnam chooses to develop on three pillars: building democracy, mobilizing all social resources, national solidarity both internally and externally; building a socialist rule-of-law state; and building a socialist-oriented market economy.
Vietnam pursues an independent, self-reliant, diversified, and multilateral foreign policy, is a good friend and reliable partner with all countries, and at the same time, implements a self-reliant economy, taking internal resources as the foundation and a decisive long-term strategy; external resources are important and breakthrough.
These important policies are accompanied by three strategic breakthroughs, namely in institutions, human resources and infrastructure. Along with that is the effective implementation of the national master plan and six regional plans.
The Prime Minister said that the Politburo has issued six resolutions related to the development of six regions, promoting the competitive advantages of each region, but the regions are connected to each other, and the Government has also issued an action program to institutionalize these policies.
Along with the above, "Vietnam determines that people are the center of the subject, the driving force, the target and the resource for development, not trading progress, social justice and the environment for mere economic growth, thereby achieving rapid but sustainable development," said the Prime Minister.
To have a stable investment environment, politics must be stable, national security and social order and safety must be firmly ensured. Regarding the long-term interests of investors, the Prime Minister said that the law must be consistent and long-term to ensure that investors have space for creative development, stability and a positive direction.
The Prime Minister affirmed, “In the current difficult context, what should we do? If there are difficulties that cannot be resolved, how can businesses resolve them? Businesses must have a good environment, ecosystem, and a good country, then businesses can develop well.” And the head of the Vietnamese Government realized that China is currently doing very well, creating conditions for domestic and foreign businesses operating here to develop stably.
In the current situation, the Prime Minister said that it is necessary to continue to consistently implement the goal of maintaining macroeconomic stability, controlling inflation, promoting growth, ensuring major balances of the economy; ensuring a harmonious and reasonable balance between exchange rates and interest rates, between growth and inflation, between supply and demand; fiscal policy and monetary policy; internal and external situations, focusing on growth drivers such as consumption, investment and export.
“There is still a lot of room to set new records in trade and investment. Because the political atmosphere and good relations between the two sides are very good, we must make efforts to do so. We are committed to the investment environment, infrastructure, reducing costs, increasing quality, and improving product efficiency,” the Prime Minister emphasized.
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| Prime Minister Pham Minh Chinh and delegates attend the Vietnam-China Investment and Trade Cooperation Forum. (Photo: Nhat Bac) |
The Prime Minister outlined some major features of the situation in Vietnam and the main solutions to attract investment and promote Vietnam-China trade in the coming time.
Accordingly, in the coming time, Vietnam will attract FDI selectively, effectively and sustainably, taking quality, efficiency, technology, environmental protection and innovation as the main evaluation criteria.
Vietnam promotes attracting and has policies to encourage projects in the fields of high technology, innovation, research and development; facilitates Vietnamese enterprises to participate in the global value chain of commercial enterprises. Along with that, it promotes digital economy, green economy, circular economy, sharing economy, sustainable development, green growth.
“In the coming time, Vietnam will continue to improve its investment and business environment towards transparency, convenience, and international competitiveness. At the same time, it will review and perfect mechanisms, policies, and laws; reduce administrative procedures and business conditions,” the Prime Minister affirmed. Vietnam also focuses on developing high-quality human resources, responding appropriately to new trends…
The Prime Minister called on Chinese businesses and investors to continue to maximize the capabilities and advantages of both sides, their dynamism and creativity, and properly fulfill their investment commitments.
The head of the Vietnamese Government said that General Secretary and President Xi Jinping also encouraged typical Chinese enterprises to invest in Vietnam, so this is a good opportunity for investors, aiming to set a new record in trade and investment between the two countries.
“We ensure a transparent and healthy investment environment with the spirit of saying is doing, committing is implementing, and doing and implementing must be effective and measurable. Everyone wins with the spirit of harmonious benefits and shared risks,” the Prime Minister affirmed.
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