The Prime Minister suggested that businesses of the two countries promote investment and business cooperation, promote the role of connecting the two economies, both in terms of hard connections, soft connections, traffic connections, telecommunications infrastructure, etc.
According to the special correspondent of the Vietnam News Agency, on the morning of November 8, in Chongqing city, attending the Vietnam-China dialogue on the occasion of attending the 8th Greater Mekong Subregion (GMS) Summit and visiting China, Prime Minister Pham Minh Chinh said that Vietnam-China economic cooperation is not commensurate with the good relationship, the opportunities and potential for cooperation between the two countries are still very large; businesses of the two countries need to promote cooperation and investment in the spirit of "harmonious benefits and shared risks."
Also attending the discussion were members of the Vietnamese delegation, leaders of Chongqing city and many business representatives from the two countries.
Speaking at the seminar, delegates said that the good development of the relationship between the two countries is an extremely important factor, creating great opportunities for the business communities of both sides.
To concretize the commitments and common perceptions of senior leaders of the two Parties and two States, the role of the Chinese and Vietnamese business communities is extremely important.
In particular, the top leaders of the two Parties and two countries agreed to elevate the Comprehensive Strategic Cooperative Partnership and build a Vietnam-China Community of Shared Future with strategic significance, with the connotation of "6 more."
In particular, with the third content of "deeper substantive cooperation," economic, trade and investment cooperation has become a bright spot and important pillar in the relationship between the two countries with some outstanding results.
Over the past 10 years, trade between the two countries has increased more than four times; making China Vietnam's largest import market, and Vietnam China's largest trading partner in ASEAN.
China's investment in Vietnam has increased more than 7 times, becoming the 6th largest foreign investor out of 148 in Vietnam. In 2023, China rose to become the leading partner in terms of the number of new investment projects in Vietnam.
In the overall good relationship between the two countries, Chongqing has always been a locality with a tradition of friendship and close ties with Vietnam; it is the place where President Ho Chi Minh spent many years of revolutionary activities.
Chongqing has an important location and special status. It is the leading economic, commercial, cultural, educational, scientific and technological, and logistics center of western China, an important fulcrum of the “Great Development of the West” strategy and the “Overland Silk Road” initiative, the starting point of the new Land-Sea Transport Corridor, and an important hub of the China-Europe railway.
In recent years, friendly exchanges and mutually beneficial cooperation between Chongqing and Vietnamese localities have been increasingly promoted.
Two-way trade turnover in the first 9 months of 2024 reached 4.2 billion USD, Vietnam has been Chongqing's largest trading partner in ASEAN for many consecutive years.
In two consecutive years 2023-2024, there were delegations of Chongqing city leaders visiting and working with Vietnamese localities and partners.
Delegates said that the potential for cooperation between Chongqing and Vietnamese localities is still very large and open. In particular, during the Prime Minister's working trip this time, with the two sides officially confirming the establishment of the Vietnamese Consulate General in Chongqing, exchanges and cooperation in various fields between Chongqing, neighboring localities and Vietnamese localities will develop to a new level, more deeply, substantially and effectively, bringing great benefits to businesses and people on both sides.
Speaking at the seminar, Prime Minister Pham Minh Chinh emphasized the similarities and closeness between Vietnam and China in terms of nature, culture, and history. Accordingly, the two countries have “mountains connected to mountains, rivers connected to rivers,” a long history of relations, and a friendship of “being both comrades and brothers.”
In particular, after recent mutual visits by senior leaders of the two Parties and two countries, the Vietnam-China Comprehensive Strategic Partnership has a solid political foundation, a similar cultural foundation, a favorable legal foundation, an open market foundation, and the building of a Vietnam-China Community of Shared Future has strategic significance.
The Prime Minister said that with these foundations, it is necessary to promote economic, trade and investment cooperation more strongly and effectively. By the end of October 2024, China had nearly 5,000 valid investment projects in Vietnam with a total registered capital of nearly 30 billion USD.
In the first nine months of 2024, China continued to lead in the number of new investment projects and ranked second in total registered investment capital. Bilateral trade turnover in 2023 reached nearly 172 billion USD.
In the first 9 months of 2024, import and export turnover between China and Vietnam reached 190.9 billion USD, an increase of 14.5% over the same period in 2023.
Believing that these results are not commensurate with the good relationship, and that the opportunities and potential for cooperation between the two countries are still very large, the Prime Minister took the time to share about the fundamental factors and major orientations of Vietnam in socio-economic development, foreign affairs and integration, ensuring national defense and security, cultural development, ensuring social security, etc. so that businesses of the two countries can feel secure in cooperating and investing.
Accordingly, Vietnam implements an independent, self-reliant, diversified, multilateral foreign policy, being a friend, a reliable partner, and a responsible member of the international community, for peace, cooperation, and development.
Vietnam identifies economic development as the central task, building an independent and self-reliant economy associated with proactive and active international integration, deeply, substantially and effectively; ensuring national defense and security, implementing the 4-no defense policy, maintaining political stability and social order and safety so that investors can feel secure in doing business stably and long-term.
Along with that, cultural development is an endogenous strength, a spiritual foundation, internationally implementing a culture imbued with national identity and nationalizing the quintessence of world culture; focusing on ensuring social security, building a social safety net, not sacrificing progress, fairness, social security and the environment to pursue mere economic growth.
Vietnam is promoting three strategic breakthroughs in building open institutions, developing strategic infrastructure and training high-quality human resources, following the orientation of "open institutions, smooth infrastructure, smart governance"; promoting improvement of the investment and business environment, creating a public, transparent, equal and healthy business environment, reforming administrative procedures towards simplicity and speed, reducing logistics costs, input costs, compliance costs, improving product competitiveness...
The Prime Minister emphasized the viewpoint of “harmonized benefits, shared risks,” harmonizing interests between the State, businesses and people, “listening and understanding together, sharing vision and action together, doing together, winning together, enjoying together, developing together, sharing joy, happiness and pride.”
The Prime Minister said that to date, Vietnam has established diplomatic relations with nearly 200 countries and signed 17 free trade agreements with 65 leading markets in the world. Investing in Vietnam will have opportunities with 65 markets in the world.
In 2023, Vietnam attracted nearly 36.6 billion USD in FDI, up 32.1% compared to 2022; realized FDI capital reached 23.2 billion USD, the highest ever. In the first 10 months of 2024, FDI attraction reached 27.3 billion USD, up 2.0%; realized FDI capital reached 19.6 billion USD, up 8.8%.
The Prime Minister suggested that businesses of the two countries promote investment and business cooperation, promote the role of connecting the two economies, both in terms of hard and soft connections, traffic connections, telecommunications infrastructure, etc., contributing to concretizing the agreements of the top leaders of the two Parties and two countries, bringing benefits to businesses, the two countries and the two peoples, together developing a strong and prosperous country, bringing a prosperous and happy life to the people.
Regarding business proposals, the Prime Minister said that the two countries are currently implementing smart customs to simplify customs clearance procedures.
Along with that, the authorities of the two countries have been implementing policies related to logistics infrastructure development, financial support, technical cooperation, especially focusing on developing emerging industries such as digital economy, green economy, circular economy, etc., implementing traceability of products, packaging, product designs, etc.
At the seminar, businesses from the two countries signed seven memorandums of understanding (MOUs) in many fields, including the MOU between Vietnam Railways Corporation, Military Industry and Telecommunications Group (Viettel) and the New Road and Sea Corridor Operation Company; the strategic cooperation framework agreement between Railway Transport and Trade Joint Stock Company and Yuxinou Supply Chain Management Company (Chongqing); MOU between Viettel Post and Sunwah Group; MOU between Vietnam National Shipping Lines and Sinotrans Company; T&T Group and Cospowers Limited Company, Goldwind International Holdings Limited Company of China on cooperation in the production of energy storage batteries and the development of energy support industries.../.
Source
Comment (0)