(CPV) - Attending the Vietnam - China Business Forum, Prime Minister Pham Minh Chinh 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.
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| Prime Minister Pham Minh Chinh and delegates attending the Vietnam - China Business Dialogue. |
On the morning of November 8, in Chongqing City, as part of his program to attend Mekong sub-regional cooperation conferences and work in China, Prime Minister Pham Minh Chinh attended the Vietnam-China Business Dialogue. The dialogue was organized by the Ministry of Planning and Investment, the State Capital Management Committee at Enterprises, and the Vietnamese Embassy in China in coordination with the Chongqing City government.
Also attending the Dialogue were members of the Vietnamese delegation, leaders of Chongqing city and many business representatives from the two countries.
Opinions at the seminar agreed 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 the 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, building a Vietnam-China Community of Shared Future with strategic significance with the connotation of "6 more". In particular, with the third content "deeper substantive cooperation", economic, trade and investment cooperation has become a bright spot and an important pillar in the relationship between the two countries, with some outstanding results.
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| Representative of Chongqing City leader gave opening speech |
Over the past 10 years, trade between the two countries has increased more than 4 times; making China Vietnam's largest import market, 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.
Delegates also said that, 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 where President Ho Chi Minh spent many years of revolutionary activities.
Chongqing has an important position and special status, being 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 "Silk Road on Land" initiative, the starting point of the New Sea-Land 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, and Vietnam has been Chongqing's largest trading partner in ASEAN for many consecutive years. In the two consecutive years of 2023-2024, Chongqing city leaders have visited and worked with Vietnamese localities and partners.
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| Delegates attending the Seminar. |
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 first 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 "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 such 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 9 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 will reach nearly 172 billion USD. In the first 9 months of 2024, import-export turnover between China and Vietnam will reach 190.9 billion USD, up 14.5% over the same period in 2023. However, the Prime Minister said that these results are not commensurate with the good relationship, and the opportunities and potential for cooperation between the two countries are still very large.
Next, the Prime Minister spent time sharing 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.
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| Prime Minister Pham Minh Chinh speaks at the seminar. |
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 a central task, building an independent, self-reliant economy associated with proactive, active, deep, substantive, and effective international integration; ensuring national defense and security, implementing the 4-no defense policy, maintaining political stability, social order and safety so that investors can feel secure in doing business stably and long-term.
Along with that, cultural development is the endogenous strength, the spiritual foundation of society, internationalizing values, national cultural 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 institutional building, strategic infrastructure development and high-quality human resource training, following the orientation of "open institutions, smooth infrastructure, smart governance"; improving 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, and enhancing the competitiveness of products and businesses.
The Prime Minister emphasized the viewpoint of "harmonized benefits, shared risks", harmonizing the interests between the State, enterprises and people, "listening and understanding together, sharing vision and action together, doing together, winning together, enjoying together, developing together, sharing joy, happiness and pride". To date, Vietnam has established diplomatic relations with nearly 200 countries, signed 17 free trade agreements with 65 leading markets in the world. Therefore, investing in Vietnam will have opportunities with 65 markets in the world, the Prime Minister said.
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%.
With the above fundamental factors, 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 connection, soft connection, traffic connection, telecommunications infrastructure, etc., contributing to concretizing the agreements, commitments, and common perceptions of the top leaders of the two Parties and two countries, bringing benefits to businesses, the two countries and the people of the two countries, together developing a strong and prosperous country, bringing a prosperous and happy life to the people.
Regarding the proposals of enterprises, the Prime Minister said that the two countries are currently implementing smart customs to simplify customs clearance procedures. Along with that, the authorities 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 7 memorandums of understanding (MOUs) in many fields, including MOU between Vietnam Railways Corporation, Military Industry and Telecommunications Group (Viettel) and New Road and Sea Corridor Operation Company; strategic cooperation framework agreement between Railway Transport and Trade Joint Stock Company and Yuxinou Supply Chain Management Company; MOU between Viettel Post and Sunwah Group; MOU between Vietnam National Shipping Lines and Sinotrans Company; between T&T Energy Group Joint Stock Company (Vietnam) and Cospowers Company Limited and Goldwind International Holdings Company Limited.../.
Source: https://dangcongsan.vn/thoi-su/thuc-day-hop-tac-kinh-te-thuong-mai-dau-tu-viet-nam-trung-quoc-682682.html
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