Prime Minister Pham Minh Chinh witnessed the electronic signing ceremony of the cooperation agreement between businesses of the two countries (Photo: Thanh Giang).

At the Seminar, corporations and businesses from both countries presented many opinions highly appreciating the cooperation prospects of the business communities of the two countries; highly appreciating Vietnam's increasingly improved and attractive investment and business environment.

Major Chinese corporations have expressed their desire to increase cooperation and expand investment in Vietnam; they hope the Vietnamese Government will create favorable conditions for these enterprises to invest and do business smoothly.

Vietnamese corporations and enterprises hope that the governments of the two countries will create favorable conditions, especially improving and simplifying administrative procedures to facilitate business.

Chairman of the Board of Directors of Vietnam Railways Corporation Dang Sy Manh stated that Vietnam Railways is operating international transit through China at the Dong Dang-Bang Tuong and Lao Cai-Hekou border gates. Over the past year, with the initiative to move the border gates deep into the interior, import and export goods by rail have grown strongly at double digits. Chongqing is one of the major railway logistics centers in China. This is also a convenient point for container ships from Vietnam to Europe. May 10, 2024,

However, the current bottlenecks are narrow-gauge connecting infrastructure, lack of warehouses, ICDs in Vietnam and the lack of synchronization and continuity in quarantine between the two countries, so output and revenue are still low, time is long, and costs are high compared to capacity and expectations. In addition, the tourism potential of Vietnam Railways is still open to the Chinese market because international passenger trains have not been resumed since February 2020. Meanwhile, Vietnam's north-south railway line was voted by Lonely Planet as the most beautiful, most worth-experiencing railway line in the world, and attractive for tourism.

With the newly built railway, senior leaders have made joint statements on the construction of 3 railway lines connecting the two countries. Especially the Lao Cai-Hanoi-Hai Phong route: when the capacity of Hai Phong port is opened, this will be likened to the Silk Road of railway transport, overcoming current bottlenecks, being the shortest route from the sea to the Southwest region of China, the EU... Mr. Dang Sy Manh stated that developing railway logistics is an inevitable trend for Vietnam to deeply integrate into the global economy. Therefore, Vietnam Railways Corporation proposes:

Regarding freight transport: the two sides consider recognizing the quarantine results carried out by the other side to help reduce administrative procedures, save time and costs. The Chinese side (Guangxi and Yunnan provinces) is interested in investing in a system for testing and quarantine of fruits, agricultural products, and seafood at the Son Yeu and Bang Tuong stations. Add a list of goods that can be imported and exported through the railway border gates between the two countries (such as cars, fresh food, etc.).

Research on the application of smart border gate models at railway border gates. Increase the operation of specialized trains from Vietnam to logistics centers in China. Speed ​​up the construction of new railway lines connecting the two countries, especially the Lao Cai-Hanoi-Hai Phong railway line, so that construction can begin by the end of 2025.

Regarding tourism, the two sides will soon restore international passenger trains between Vietnam and China, serving as a bridge for cultural, tourism, trade and people-to-people exchanges.

Chairman of the Board of Directors of Vietnam Airlines Dang Ngoc Hoa stated that VNA is always honored and proud to contribute to the development of the friendly relationship between the two countries; in more than 3 decades of connection, VNA has always made efforts; currently, Vietnam is operating 66 weekly flights connecting economic centers and major cities of Vietnam such as Hanoi, Ho Chi Minh City with Beijing, Shanghai, Guangzhou and hundreds of signed charter flights. In 2025, VNA will increase the use of modern wide-body aircraft connecting Hanoi, Ho Chi Minh City with Beijing, Shanghai, research to reopen many commercial routes between Da Nang-Guangzhou, Ho Chi Minh City-Hangzhou; consider opening a route from Vietnam to Chongqing.

Along with passenger transport, VNA is expanding cargo transport, making the most of the Chinese market; cooperating with major Chinese airlines; has built a comprehensive, continuous, modern logistics ecosystem according to international standards, including warehousing, delivery, optimizing transportation time, reducing costs for customers.

In particular, VNA has a long-term vision for developing cargo transportation when infrastructure conditions permit, in which Long Thanh International Airport will be an important turning point for VNA's cargo transportation. Vietnam always promotes its role as the national airline of Vietnam, committed to close cooperation with Chinese partners, businesses and customers. In this journey, VNA hopes to receive support and close cooperation from agencies and departments of the two countries, contributing to strengthening the good economic relations between the two countries.

Speaking at the seminar, Prime Minister Pham Minh Chinh stated that the Vietnam-China relationship is very special, mountains connect to mountains, rivers connect to rivers, seas connect to seas, roads connect to roads; there is a long-standing historical tradition of relations over thousands of years, "Vietnam-China friendship, both comrades and brothers"; there is a very solid political foundation, a similar cultural foundation, a favorable legal foundation, and an open market foundation. On the basis of "Vietnam-China community of shared future has strategic significance", we see the need for more investment and economic cooperation.

In recent years, China has invested in about 5,000 projects in Vietnam, with a total value of 30 billion USD; bilateral trade in 2023 reached more than 170 billion USD, in the first 9 months of 2024 reached 190 billion USD, an increase of 14% over the same period; but compared to the potential and the relationship between the two countries, it is not commensurate, the potential is still very large. Investment opportunities between the two countries are huge, businesses have expressed many opinions.

Prime Minister Pham Minh Chinh stated that Vietnam has diplomatic relations with nearly 200 countries and has signed 17 FTAs ​​with more than 65 of the world's largest markets. Investing in Vietnam is an opportunity to expand into large markets with countries around the world. Vietnam's trade relations with China are the largest, this year likely to reach more than 200 billion USD. Vietnam's trade relations with other countries this year are likely to reach 800 billion USD. Regarding foreign investment, in 2023, Vietnam will attract 36 billion USD in registered FDI capital, 23 billion USD in disbursed capital; in the first 10 months of 2024, it will reach about 30 billion USD, and nearly 20 billion USD in disbursed FDI capital.

Prime Minister Pham Minh Chinh expressed that Vietnam pursues an independent, self-reliant, diversified, multilateral foreign policy, is a good friend, a reliable partner, and a responsible member of the international community, for peace, cooperation, and development; Vietnam builds an independent, self-reliant economy, identifies economic development as a central task, actively integrates deeply, substantially, and effectively into the international economy; implements the "4 no's" defense policy; ensures national defense and security, political stability, and social order and safety so that foreign investors can do business with peace of mind; always ensures social security, does not sacrifice progress and social justice to pursue mere economic growth; social policies ensure fairness, progress, and equality.

The Prime Minister shared that Vietnam is implementing 3 strategic breakthroughs: institutional breakthroughs, creating a good business environment, reducing input costs, reducing compliance costs, increasing product competitiveness; infrastructure breakthroughs, including hard infrastructure and soft infrastructure, creating new values, reducing transportation and logistics costs, increasing competitiveness for goods; human resources breakthroughs, especially enhancing training of high-quality human resources, meeting the needs of businesses and investors. Implementing "3 through": open policies, smooth infrastructure, smart management; implementing "4 together": listening and understanding together; sharing vision, awareness and action together; working together, enjoying together, winning together and developing together; sharing joy, happiness and pride" in the spirit of harmonious benefits, shared risks, and harmonious interests between the State, people and businesses.

Regarding the proposal of the two countries on simplifying customs procedures, we will implement smart customs; regarding weak logistics infrastructure, Vietnam is actively investing in infrastructure; Vietnam is researching and will implement policies to support fees and charges; strengthen technical cooperation focusing on emerging industries such as digital economy, green economy, circular economy; do better in issues of traceability, packaging, design, etc.

At the seminar, Prime Minister Pham Minh Chinh witnessed businesses from both countries performing the electronic signing ceremony of cooperation agreements in various fields.

Notably, T&T Group has signed a memorandum of understanding with leading enterprises in the energy sector of China, including: Cospowers Co., Ltd., Goldwind International Holdings Co., Ltd. Accordingly, T&T Energy (a member of T&T Group) and Cospowers Co., Ltd. have signed a strategic cooperation agreement, with the important goal of researching and evaluating opportunities and potential for business development, building factories to produce energy storage products (for renewable energy and independent energy storage projects) and static energy storage systems for telecommunications, etc.

Prime Minister Pham Minh Chinh hopes that businesses of the two countries will play a role in connecting the two economies, both hard and soft, connecting transportation and telecommunications infrastructure, contributing to realizing the joint statement of the two countries' top leaders. He hopes that businesses of the two countries will increase investment, bringing benefits to businesses, to the two countries, to the people of the two countries, together developing a strong and powerful country. Vietnam supports China to grow stronger and play a leading role in the international arena.


According to nhandan.vn