Bilateral trade cooperation is developing strongly.
On the evening of June 28, Prime Minister Pham Minh Chinh and the Vietnamese high-ranking delegation arrived at Noi Bai Airport (Hanoi), successfully concluding their official visit to China and attending the World Economic Forum (WEF) (from June 25 to 28).
Earlier, on the morning of June 28, Prime Minister Pham Minh Chinh attended the Vietnam-China Investment and Trade Cooperation Forum in Beijing. In the afternoon of the same day, Secretary of the Hebei Provincial Party Committee (China) Ni Xiongfeng accompanied the Prime Minister to survey the new Xiong'an area, introduce and exchange planning experiences.
Prime Minister Pham Minh Chinh attends the Vietnam - China Investment and Trade Cooperation Forum
Informing Chinese enterprises, Mr. Do Nhat Hoang, Director of the Foreign Investment Agency (Ministry of Planning and Investment), said that although after the Covid-19 pandemic, China's investment in Vietnam is slowing down, in the first 6 months of 2023, the total investment reached 1.39 billion USD, ranking third among investors in Vietnam .
According to Mr. Hoang, there is a wave of investment in innovation in Vietnam . Among them, there are large Chinese corporations that are among the top in the world, such as JA Solar, Jinko, Texhong - investing in solar batteries; Sunny investing in a 2 billion USD project for Apple's ecosystem... Regarding investment trends, according to the representative of the Ministry of Planning and Investment, currently investment sources from Japan and Korea tend to slow down while China is tending to expand investment abroad to diversify the supply chain, while promoting the advantages of the host country's trade commitments.
Sharing at the forum, the representative of Yingke Group, a Chinese enterprise that has invested in Vietnam since early 2006, said that Vietnam has many advantages such as abundant human resources and an increasingly expanding consumer market. Vietnam is also a bright spot attracting investment in the world. According to the representative of Yingke, Vietnam 's investment environment ranks 10th in Asia, this good result is thanks to the stable political factor, the independent, self-reliant, multilateral and diversified policy... In terms of growth, Vietnam maintains a high economic growth rate, with an average GDP of over 4,000 USD/person.
The leader of Texhong Group - a top 500 company in the world - also said that it has invested in Vietnam for 20 years with a total capital of 1.6 billion USD, providing 20,000 jobs. With the main investment products in Vietnam being textiles, the developed logistics system helps this company transport goods to China in half a day.
The leader of Texhong Group also emphasized many advantages of Vietnam such as a very young and highly productive workforce. The Vietnamese Government attaches importance to trade cooperation with other countries and has signed free trade agreements (FTAs) with more than 10 countries. Texhong is also among the enterprises benefiting from the trade relationship between Vietnam and China.
Prime Minister visits Xiong'an New Area in Hebei Province
ENCOURAGE CHINESE ENTERPRISES WITH REAL POWER
Speaking at the forum, Chinese Vice Premier Liu Guozhong emphasized the close relationship between Vietnam and China as "good neighbors, good friends, mountains and rivers connected like lips and teeth". Recalling the historic visit of General Secretary Nguyen Phu Trong in November 2022, according to Liu Guozhong, the two sides have reached an important understanding of the bilateral relationship. Prime Minister Pham Minh Chinh's official visit this time will add strong momentum to the strategic relationship between the two countries.
Prime Minister Pham Minh Chinh
According to the Chinese Vice Premier, the trade cooperation between the two countries has developed rapidly and diversified in recent years, with bilateral trade turnover increasing rapidly. In the first 5 months of the year, the total turnover between the two countries accounted for nearly 1/4 of the ASEAN-China bilateral trade turnover. China is also Vietnam 's largest trading partner. Vietnam is also China's largest trading partner with ASEAN, the 6th largest in the world; and China's fourth largest investment partner in ASEAN.
"China is willing to join hands with Vietnam to move forward together. Promote China-Vietnam cooperation to a new height, accelerate strategic connectivity, and adhere to the principle of discussing together, building together, and sharing benefits," said Mr. Liu Guozhong.
Regarding specific issues, the Chinese Vice Premier affirmed that China is ready to import high-quality rice from Vietnam and other high-quality products. At the same time, promoting investment in industries and fields where the two countries have strengths, seeking cooperation and exchange in the green economy, digital economy, etc. "China encourages capable and reputable enterprises to invest in Vietnam . We will provide more and better investment promotion services for enterprises of the two countries to do business, protect the legitimate interests of investors, etc.", said the Chinese Vice Premier.
3 important highlights of the visit
Informing about the results of the visit, Minister of Foreign Affairs Bui Thanh Son said that Prime Minister Pham Minh Chinh's visit achieved three important results.
Firstly, political trust between the two countries has been strongly enhanced, creating an important foundation to promote and further deepen the Vietnam-China Comprehensive Strategic Cooperative Partnership in the new situation, bringing benefits to the people of the two countries. The senior leaders of both sides emphasized that
the importance of enhancing political trust, properly handling and controlling disagreements, and developing the Vietnam -China comprehensive strategic cooperative partnership in a stable, healthy, and long-term effective manner.
Second, the two sides reached many important common perceptions and agreed on many specific measures to promote cooperation in various fields, contributing to creating an important material basis for promoting the Vietnam -China relationship in the coming time. The two sides agreed to improve the quality of economic, trade and investment cooperation, promote transport connectivity, especially in the fields of railways, roads, border gate infrastructure, etc.
The Chinese side affirmed that it will increase the import of Vietnamese goods, especially agricultural products, increase the quota for Vietnamese goods transiting by Chinese railway to third countries, and expand high-quality Chinese investment in areas suitable to Vietnam 's needs. In addition, the visit also increases friendly understanding and strengthens the social foundation for the development of bilateral relations.
Taking note of the opinions at the forum, Prime Minister Pham Minh Chinh requested the Ministry of Planning and Investment and other ministries and sectors to absorb and find the best solutions for investors to contribute to the development of the two countries. "After establishing the Vietnam - China relationship in the spirit of strategic partnership in the new era, there must be innovation in both guiding ideology, implementation organization, and operating mechanism. There must be a specialized working group on investment and trade issues. How to make Vietnam - China investment and trade cooperation go into depth, be effective and substantive, be both comrades and brothers", the Prime Minister emphasized.
The Head of Government also informed that Vietnam is carrying out innovation and reform to open up. The goal is to become a developing country with an upper middle income by 2030 and a developed industrial country with a high income by 2045. There is not much time left, the specific and clear goals require high determination, great efforts, and more efforts to achieve. Accordingly, Vietnam will develop based on three pillars: building a socialist rule of law state; building a socialist-oriented market economy; and taking people as the center of the subject, driving force, and goal of development.
Graphics: Bao Nguyen
ENSURING A CLEAN ENVIRONMENT, SAID AND DOING
Prime Minister Pham Minh Chinh clearly stated Vietnam 's policies to implement three strategic breakthroughs in infrastructure, institutions and human resources. "In the current difficult context, what should Vietnam do? If difficulties cannot be resolved, how can businesses develop?", the Prime Minister stated. Accordingly, Vietnam aims to stabilize the macro economy, control inflation, ensure major balances, promote public investment, FDI investment, etc. The Prime Minister also recalled that in a previous meeting, Chinese Prime Minister Li Qiang affirmed that the Chinese market with 1.4 billion people is always ready to welcome Vietnamese goods.
Chinese Group Wants to Invest in Energy, Social Housing
On the morning of June 28, in Beijing, Prime Minister Pham Minh Chinh received leaders of several large Chinese economic groups such as Texhong, Runergy, Energy China, GOERTEK, TCL, Thien Nang, Truong Thanh. These are groups that are investing heavily and wish to expand production and business in Vietnam . The leaders of the groups highly appreciated and believed in Vietnam 's dynamic development, and said that they are producing and doing business effectively and wish to continue expanding investment in Vietnam in a number of areas such as energy, industrial park infrastructure, social housing, inland waterway ports, automobile manufacturing, supply chains, etc. The groups also asked the Prime Minister to direct ministries, branches, and localities to continue to create more favorable conditions for reforming administrative procedures, providing a stable source of electricity for production, providing enough materials for leveling the ground to build industrial parks, and removing obstacles in fire prevention and fighting regulations, etc.
Prime Minister Pham Minh Chinh said that Vietnam has approved the Power Plan 8, which includes energy conversion, wind power and solar power development; encourages self-production, self-consumption, and rooftop solar power development; and businesses can base their investments on this. In addition to existing investment areas, the Vietnamese Government also encourages businesses to invest in renewable energy industries; construction of power transmission systems; textile and garment supporting industries and construction of international-class fashion runways...
"China exports a lot to Vietnam but there is still room to set new records. On the contrary, Vietnam 's exports to China need to make more efforts. There is still a lot of room to set new records, especially with advantages such as a trustworthy political atmosphere, a historical relationship of mountains connecting mountains and rivers connecting rivers," the Prime Minister acknowledged.
Previously, in a meeting with Prime Minister Pham Minh Chinh, Chinese President Xi Jinping said he would encourage typical Chinese enterprises to invest in Vietnam . The Prime Minister said that this is a great opportunity for Chinese and Vietnamese commercial investors to improve the scope, target and quality of market penetration. The two sides are determined to set new investment and trade records.
According to the head of the Government, Vietnam will promote attraction and have policies to encourage and promote projects in the fields of high technology, innovation, research and development; facilitate Vietnamese enterprises to participate in the value chain; promote digital economy, green economy, circular economy, sharing economy, and sustainable development.
Chinese intellectuals hope for lasting friendship
On the morning of June 28, Prime Minister Pham Minh Chinh received Chinese friendship figures. Sharing with the Prime Minister, the delegates were moved to recall unforgettable memories of President Ho Chi Minh, the country and people of Vietnam .
Recalling General Tran Canh's memories of Vietnam and Uncle Ho, Mrs. Tran Tri Tien - General Tran Canh's daughter, said that the days she met Uncle Ho were the best days of her father's life. Since childhood, she has always remembered the phrase "Long live Uncle Ho". She also hopes that the warm friendship fostered by the two countries' senior leaders will last forever.
According to Mr. Wang Mindao, Vice President of the Chinese People's Association for Friendship with Foreign Countries, the friendship between the two countries, nurtured by President Ho Chi Minh and Chairman Mao Zedong, will forever be a priceless asset of the two countries and peoples. Under the leadership of the two Communist Parties, both countries take the people as the center, both aim for the 100-year goal of prosperous development.
Thanking the Chinese intellectuals for their sentiments and touching stories, Prime Minister Pham Minh Chinh also reiterated the saying about friendship: "A hundred favors, a hundred meanings, a thousand feelings. The spirit of friendship is glorious forever". Recalling the milestones of the close bond between the two countries, according to the Prime Minister, the friendship between the two countries was nurtured by the sentiments, sweat and even blood of Chinese comrades when Vietnam was still facing difficulties. He also asked the friendship associations of the two countries and intellectuals to continue to inspire future generations, fostering the Vietnam - China friendship "mountains linked to mountains, rivers linked to rivers".
Along with that, Vietnam will continue to improve the investment and business environment towards transparency, convenience, and international competitiveness. At the same time, review and perfect mechanisms, policies, and laws; cut down on administrative procedures and business conditions. Vietnam also focuses on developing high-quality human resources, responding appropriately to new trends...
The Prime Minister also called on Chinese enterprises and investors to continue to maximize the capabilities and advantages of both sides, their dynamism and creativity; and to properly implement investment commitments. "We ensure an open and healthy investment environment with the spirit of saying is doing, committing is implementing, and doing and implementing must be effective and measurable. All win together with the spirit of harmonious benefits and shared risks," Prime Minister Pham Minh Chinh pledged.
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