Businesses of the two countries discussed each other's potential, strengths, and cooperation needs, in line with the two countries' orientations and global trends, in areas such as digital economy, finance, and energy.
During the program of Premier of the State Council of the People's Republic of China Li Qiang's official visit to Vietnam, on the afternoon of October 13, in Hanoi, Prime Minister Pham Minh Chinh and Chinese Premier Li Qiang attended the Vietnam-China Business Forum.
Also attending were leaders of ministries, branches and typical corporations and enterprises of China and Vietnam.
Promoting cooperation in infrastructure, digital economy, finance, energy
The seminar is an event that connects and strengthens the comprehensive strategic partnership between the two countries; realizes the high-level common perceptions of the two Parties and agreements between the two countries; strongly promotes the pillars of economic, trade and investment relations. Thereby, contributing to raising the level of economic relations in the new era; promoting sustainable and long-term development for both countries; contributing to the stability and common prosperity of the region.
With the theme "Strengthening mutually beneficial cooperation, joining hands to create the future", at the seminar, businesses of the two countries discussed each other's potential, strengths, and cooperation needs, in line with the orientations of the two countries and global trends, in the fields of: development, infrastructure connection; energy cooperation; digital transformation, digital economy; finance and banking.
Among them, Chinese enterprises said that with their proven experience and capacity, they wish to participate in Vietnam's infrastructure development projects such as railways connecting to China, urban railways, and Vietnam's North-South high-speed railway; cooperate in building smart cities, smart manufacturing, building data centers, developing e-commerce, etc., and working with Vietnam to develop greenly and sustainably.
Vietnamese enterprises proposed that the two governments continue to create favorable conditions to promote business connections between the two countries, especially in areas where China has experience and potential and Vietnam has demand. Cooperate and support Vietnamese enterprises in finance, science and technology, and management science in infrastructure development, including railway lines connecting to China; provide capital and connect in payment; develop 5G networks, digital infrastructure, artificial intelligence, connect the two countries' trade systems; cooperate in developing wind power, solar power, biomass power, hydrogen, etc.
Speaking at the seminar, Prime Minister Pham Minh Chinh said that with the joint efforts of both sides, especially the historic visits of the General Secretaries and Presidents of the two countries, the Vietnam-China relationship has developed increasingly deeply, substantially and comprehensively. Prime Minister Li Qiang's visit to Vietnam this time is the first official visit by a key Chinese leader to Vietnam after the two sides upgraded their relationship; continuing to concretize the high-level common perception of the two countries.
The two Prime Ministers said that they had a comprehensive, in-depth, effective and practical meeting, achieving many positive results and witnessed the signing of important cooperation documents between the two countries in many fields, including supply chain connectivity, railways, trade cooperation, investment, cross-border payments, etc. Prime Minister Pham Minh Chinh affirmed that the Party and State of Vietnam always attach importance to developing friendly relations with China - an objective requirement, a strategic choice and a top priority in Vietnam's overall foreign policy. In particular, sustainable economic development cooperation is one of the key factors to further strengthen the solidarity between the two brotherly countries and the relationship between the two close neighbors, helping each other in times of need.
According to the Prime Minister, the cooperation between the two countries has developed well in recent times. However, economic relations are not commensurate with the good political and social relations between the two countries. Therefore, the two sides need to further promote economic connectivity, with one of the focuses being business connectivity.
The two governments need to further promote: institutional connectivity; strategic infrastructure connectivity; governance and technology transfer connectivity; human resource training connectivity, especially high-quality human resources; capital connectivity, focusing on emerging industries; payment connectivity, especially cooperation in local currency payments, and supply chain connectivity.
The Prime Minister said that the State is responsible for state management, building and perfecting institutions, strategic infrastructure, training human resources and supporting businesses of the two countries to cooperate in open, transparent and equal operations; he asked businesses to actively and proactively connect and support each other on the basis of good political relations between the two countries, in the spirit of "harmonizing interests, sharing risks", "harmonizing interests between the State, people and businesses."
Prime Minister Pham Minh Chinh said that in recent times, the Chinese and Vietnamese business communities have contributed to making economic, trade and investment cooperation a bright spot and an important pillar in the relationship between the two countries. However, investment projects by Chinese enterprises are not yet commensurate with the good relationship between the two countries; with the different potential, outstanding opportunities, competitive advantages and especially the role, position and scale of Chinese enterprises.
Vietnam commits to "3 guarantees", "3 communications" and "3 together"
Providing information on the strategy and results of Vietnam's socio-economic situation after 40 years of renovation, the Prime Minister said that in order to attract foreign investment, including high-quality investment from China, with the spirit of "harmonious benefits and shared risks," the Vietnamese Government commits to "3 guarantees," "3 communications" and "3 together."
The “3 guarantees” include ensuring that the foreign-invested economic sector is an important part of the Vietnamese economy; encouraging and creating favorable conditions for this sector to develop in a long-term, stable manner, cooperate and compete healthily and equally with other economic sectors. Ensuring the legitimate and legal rights and interests of investors, not criminalizing civil and economic relations. Ensuring political stability, social order and safety; policy stability, constantly improving the investment and business environment. Along with that, improving governance and institutional capacity, ensuring “3 through”: smooth infrastructure, open mechanisms, smart governance.
In particular, implementing “3 together” includes: listening and understanding between enterprises, the State and the people; sharing vision and action to cooperate and support each other for rapid and sustainable development; working together, winning together, enjoying together, developing together, sharing joy, happiness and pride.
With that spirit and viewpoint, Prime Minister Pham Minh Chinh suggested that businesses of the two countries continue to contribute so that the two countries, which are already closely connected, will become closer, that they will become more united, that they will become more trustworthy, that they will become more effective, and that they will become more effective, together promoting growth and supporting the two governments in achieving the socio-economic goals set.
Calling on businesses of the two countries to focus on connectivity to make breakthroughs, taking innovation as a driving force to rise up, contributing to helping the two countries raise their economic ties to the same level as their current good geography, history and political-social relations, so that the two countries can reach out, fly high and far in the digital age, develop greenly, quickly and sustainably, taking people as the center, subject and driving force of development.
Prime Minister Pham Minh Chinh suggested that businesses of the two countries actively cooperate and exchange information to advise the Governments, ministries, sectors and localities of the two countries to remove barriers to production, business and trade, improve the investment environment, perfect institutions, mechanisms and policies, etc.
The Prime Minister requested ministries, sectors, localities and enterprises of the two countries to develop and implement specific cooperation projects within the framework of established bilateral cooperation mechanisms such as the Vietnam-China community of shared future of strategic significance, the Belt and Road Initiative (BRI), Global Development Initiative (GDI), Global Security Initiative (GSI) and Global Civilization Initiative (GCI)... of General Secretary and President Xi Jinping that we have supported; and multilateral cooperation mechanisms that both sides participate in (ASEAN-China; RCEP...).
Along with that, continue to promote the connection of the two economies, strategic connection in all fields, including transport infrastructure connection; promote cooperation in implementing railway projects connecting Vietnam and China; support preferential loans, technology transfer and human resource training, support Vietnam in building and developing a modern railway industry; further increase investment in Vietnam, especially large and typical projects in areas where China has strengths in high technology, digital transformation, transport infrastructure construction, metallurgy industry, healthcare, education, clean energy, climate change response, electric vehicle ecosystem and rechargeable vehicle batteries, etc.; focus on investment in digital economy, green economy, technology transfer.
The Prime Minister asked the Chinese side to support and create conditions for Vietnamese enterprises to participate in the value chain and supply chain of Chinese corporations and enterprises; continue to facilitate the increase of bilateral trade; and expand the import of Vietnamese goods and agricultural and aquatic products.
Believing that in any cooperative relationship, “mutual benefit” and “mutual win” are always the highest goals, the Prime Minister hopes and believes that businesses of the two countries will be more closely connected to each other, to match the stature, significance and sentiment in the relationship between the two Parties, two countries and two peoples of Vietnam and China; affirming that the Vietnamese Government will continue to support and accompany foreign investors in general and Chinese businesses in particular on the path of development.
Continue to connect the two countries' development strategies
Speaking at the event, Chinese Premier Li Qiang expressed his satisfaction with Prime Minister Pham Minh Chinh's speech and agreed on the support of the two governments for businesses of the two countries.
Prime Minister Li Qiang affirmed that China and Vietnam are good brothers, good partners, trustworthy, and can rely on each other; if united, they will certainly overcome all challenges and risks. In cooperation, sincerity is needed. As long as they persistently move in the same direction, bring mutual benefits, and bring common prosperity, both countries will certainly win.
Stating that economic and trade cooperation has always been a highlight of China-Vietnam cooperation and an important driving force to promote bilateral relations, Prime Minister Li Qiang affirmed that China has always been Vietnam's largest trade partner.
Prime Minister Li Qiang emphasized that economic and trade cooperation between the two countries still has much room to be exploited and much potential for development. In the coming period, the two countries need to pay attention to three key areas, including continuing to connect the two countries' development strategies.
According to the Chinese Prime Minister, the two countries have similar development views, broad common interests, creating favorable conditions for both sides, and need to pay attention to connecting the two countries. Currently, the two countries are actively implementing the BRI initiative connectivity planning, Two Corridors, One Economic Belt; actively connecting road, railway, border gate, port, and air transport infrastructure; promoting travel and people-to-people exchange; and strengthening cooperation in coordinating industrial development policies.
Prime Minister Li Qiang also suggested that both sides continuously consolidate and complement each other’s strengths. Each side has its own special strengths in terms of resources and industry structure, and has a need to complement each other in the long term; the two sides have strongly implemented technical and technological cooperation; coordinated the division of labor, promoted, and jointly improved competitiveness in the global value chain and supply chain.
“China has strengths in wind power, solar power, and electric vehicles, which are developing at the top of the world, suitable for Vietnam's energy transition needs. Mutually beneficial cooperation will emerge in these areas," Prime Minister Li Qiang shared.
Prime Minister Li Qiang said that the two countries have a high level of political trust and a warm friendship that many countries do not have. The two countries have confidence in future cooperation; bilateral trade has been strongly enhanced, so businesses from both sides need to seize the opportunity, strengthen close cooperation, and contribute to common development.
Prime Minister Li Qiang expressed three wishes: to constantly pay attention to major important policies, to be more proactive in integrating national development and strategic connections; to make good use of bilateral and multilateral agreements; to mobilize resources for development. To promote the harmonious development of industrial sectors based on the characteristics of their own enterprises; to seek cooperation partners in the value chain.
The Chinese government encourages Chinese enterprises to connect with Vietnamese enterprises, build cross-border production and supply chains; concentrate efforts, enhance creativity, and focus on developing the clean energy sector. Prime Minister Li Qiang believes that economic and trade cooperation between the two countries will achieve greater results in the coming time./.
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