Horasis China 2024: Connecting Investment, Restructuring and Developing the Circular Economy

On April 15, speaking at the opening ceremony of the Horasis China Economic Cooperation Forum 2024 in Binh Duong, Deputy Prime Minister Tran Hong Ha said that the forum is an opportunity for managers and domestic and foreign enterprises to seek investment connection and exchange opportunities, and restructure investment together, especially in the context of Vietnam's economy moving towards a circular green economic development model.

Regarding the scale and importance of the forum, Mr. Vo Van Minh, Chairman of Binh Duong Provincial People's Committee, said that politicians, managers, businessmen and scholars from many places around the world came to the forum to meet and discuss common concerns such as global shifts, economic development issues, etc.

Horasis Trung Quốc 2024: Kết nối đầu tư, tái cấu trúc và phát triển kinh tế tuần hoàn

Mr. Vo Van Minh, Chairman of Binh Duong Provincial People's Committee, spoke at the opening ceremony of the Horasis China Economic Cooperation Forum 2024 in Binh Duong.

In the series of events taking place at Horasis China 2024, Chinese politicians and businessmen in particular; Asian and global businessmen in general will exchange and discuss topical and core issues, from the perspective and support of the Asian community and global partners. Through the forum, Binh Duong province hopes to find important solutions of the times, make friends with investors and strengthen new partners to promote the development of an increasingly dynamic economy, expand and enhance international integration, effectively serve the industrialization and modernization process to soon realize the goal: building and developing Binh Duong province into a smart, civilized and prosperous city, bringing a prosperous, happy life and a better future for local people", said Mr. Minh.

Mr. Xiong Meng, Vice President and Secretary General of the China Federation of Industrial Economics, said that in recent years, bilateral economic, trade and investment cooperation between the two countries has been very strong, achieving many good results. In the field of trade, China has been Vietnam's largest trading partner for many years, Vietnam is also China's largest trading partner in ASEAN and also the 4th largest trading partner in the world, with bilateral trade turnover exceeding 200 billion USD for three consecutive years.

Businesses learn and connect at the Horasis China Economic Cooperation Forum 2024 in Binh Duong on April 15.

At the same time, Chinese enterprises are now stepping up investment in Vietnam. Cooperation in green development, digital economy and other fields has become a new growth point. As of December 2023, China ranked 6th among 143 countries and regions investing in Vietnam with 3,791 effective investment projects, total registered capital of more than 25 billion USD, and has created many local job opportunities, effectively supporting the development of infrastructure construction and socio-economic development of Vietnam. Moreover, since the beginning of this year, China-Vietnam high-speed rail transport has continued to operate at a high level. As of March 21, China-Vietnam freight trains had completed a total of 1,168 TEUs, up 47% over the same period last year. The in-depth development of infrastructure connectivity has promoted the upgrading of the construction of cross-border economic cooperation zones and added long-term impetus to the development of China-Vietnam trade.

“Vietnam is also an important “bridge” for close cooperation between China and ASEAN. The two countries’ regional multilateral cooperation continues to deepen, the division of labor in the international industrial chain is increasingly closer, and the capacity and effectiveness of bilateral economic, trade and investment cooperation continue to expand. With the comprehensive easing of market access after the RCEP agreement comes into effect and the construction and upgrading of the China-ASEAN Free Trade Area version 3.0, the cooperation between the two sides within the framework of East Asia and the Lancang-Mekong mechanism continues to deepen and become more solid,” said Mr. Xiong Meng.

Deputy Prime Minister Tran Hong Ha delivered a speech at the opening ceremony of the Horasis China Economic Cooperation Forum 2024.

Speaking at the ceremony, Deputy Prime Minister Tran Hong Ha said that the forum is an event that deepens the Vietnam-China relationship. "The Vietnamese Government believes that with the inherent qualities of the Vietnamese people, which are diligence, hard work and dynamism, they will be suitable for the upcoming industries and jobs and will be an address for Chinese businesses and investors to choose, place their trust in investing together, and achieve development goals together. The Government is committed to creating a transparent legal environment, listening, and oriented towards businesses, protecting the rights and interests of businesses in the direction of harmonious benefits and shared risks," the Deputy Prime Minister affirmed.

At the forum, the leaders of the Government and Binh Duong province witnessed Becamex IDC Corporation (the leading enterprise of Binh Duong province) and Sunwah Group (one of the large corporations of Hong Kong, China) signing a memorandum of understanding to promote specific cooperation programs related to comprehensive development between the two sides, aiming at important areas such as innovation, digital transformation, technology development, sustainable development, Net Zero and ensuring common prosperity.

Signing of a cooperation agreement between Becammex IDC Corporation and Sunwah Group (Hong Kong, China) at the Horasis China Economic Cooperation Forum 2024

Binh Duong Provincial People's Committee presented the Memorandum of Understanding on cooperation between Binh Duong Provincial People's Committee and Viettel Post Joint Stock Corporation to develop infrastructure, logistics services, e-commerce, delivery; apply technology solutions, operations in various fields for enterprises in the province, build an international-class logistics center, in the direction of green, smart, modern. On this occasion, the Provincial People's Committee also officially granted investment licenses to representatives of a number of enterprises that have invested in the province in the recent past.

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