(MPI) - Speaking at the Vietnam - China Business Forum organized by the Vietnamese Ministry of Planning and Investment in coordination with the Chinese Ministry of Commerce on the afternoon of October 13, 2024, Prime Minister Pham Minh Chinh affirmed that Vietnam will support and accompany foreign investors, including Chinese enterprises, on the path to prosperous development.
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| Overview of the Seminar. Photo: MPI |
The seminar was held during Prime Minister Li Qiang’s official visit to Vietnam. Also attending the seminar were Deputy Prime Minister Nguyen Thanh Son; Minister of Planning and Investment Nguyen Chi Dung and representatives of ministries, branches and representative corporations and enterprises of the two countries.
After listening to the speeches of Vietnamese enterprises participating in the Dialogue, including VietinBank, Vietnam Railway Corporation , Vietnam Posts and Telecommunications Group, Vietnam Electricity Group, and Chinese enterprises including Industrial and Commercial Bank of China (ICBC), China Railway Corporation, JD Group and Boway Group, Prime Minister Pham Minh Chinh highly appreciated the speeches and cooperation ideas of the enterprises and hoped that the enterprises would do what they said and commit to, bringing about measurable results.
The Prime Minister said that over the past time, with the visits of the General Secretaries and Presidents of the two countries, the Vietnam-China relationship has developed more deeply, practically, effectively and comprehensively. The top leaders of the two Parties and States have agreed to elevate the comprehensive strategic partnership and build a community of shared future cooperation of strategic significance.
The Prime Minister emphasized that this visit to Vietnam by Premier Li Qiang 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. This creates motivation, inspiration, and spreads a very positive effect on the activities connecting the economies and business communities of the two countries, creating new momentum and impetus to promote more substantive, comprehensive, and effective cooperation between the two countries in the coming time.
Prime Minister Pham Minh Chinh said that in the morning of the same day, the two Prime Ministers had a cordial, sincere, open, comprehensive, profound, effective, and practical meeting, achieving many very positive results and witnessed the signing ceremony of important cooperation documents between the two countries in many fields, including supply chain connectivity, trade cooperation, investment, border payments;...
The Prime Minister highly appreciated the cooperation ideas of businesses at the seminar, expressing the desire for effective cooperation and the aspiration to develop the two countries quickly and sustainably; expressing his hope that businesses will do what they say they will do, and commit to doing it, bringing about measurable results.
The Prime Minister 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 which, sustainable economic development cooperation is one of the key factors.
In recent times, the social foundation of the two countries' cooperative relations has improved, mutual trust has increased, creating very favorable conditions for economic, investment, trade and business activities between the two countries.
However, economic relations are not yet commensurate with the stature of the good political and social relations between the two countries, especially the different potentials, outstanding opportunities, and competitive advantages that can complement, support, and promote each other's development. Therefore, it is necessary to further promote the connection between the two economies, one of the focuses of which is connecting businesses, the Prime Minister emphasized.
To do this, Prime Minister Pham Minh Chinh said that the two governments need to further promote institutional connectivity; strategic infrastructure connectivity; smart governance and technology transfer connectivity; human resource training, especially high-quality human resources; capital connectivity, focusing on emerging industries; payment connectivity; supply chain connectivity, production chain connectivity, value chain connectivity, etc.
The two governments create for development, build institutions, build strategic infrastructure, train human resources; hope that businesses of the two countries will actively and proactively connect with each other in an open, fair, and equal manner in the spirit of mutual benefit; harmonious benefits, and shared risks.
In recent years, Chinese enterprises have invested more in Vietnam and in the coming time, it is necessary to consolidate and promote this momentum, inspire and create new impetus for cooperation between enterprises of the two countries in all fields, the Prime Minister emphasized.
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.
Notably, over the past 10 years, trade between Vietnam and China has increased more than 4 times. China has become Vietnam's largest import market. Vietnam is China's largest trading partner in ASEAN.
Bilateral trade turnover in 2023 will reach nearly 172 billion USD; in the first 9 months of 2024, it will reach nearly 150 billion USD, an increase of 22%. If including informal trade, this figure will be much higher.
China's investment in Vietnam has increased more than seven times, becoming the 6th largest investor out of 148 countries and territories investing in Vietnam. China has risen to become the leading partner in terms of the number of new investment projects in Vietnam in the past two years.
However, investment projects of Chinese enterprises are not yet commensurate with the good relations between the two countries; with the potential of Chinese enterprises, especially the different potentials, outstanding opportunities, and competitive advantages between the two countries.
Regarding the socio-economic situation and investment environment of Vietnam, the Prime Minister said that after nearly 40 years of renovation, Vietnam has become the 34th largest economy in the world, among the top 20 trading countries, ranked 32nd in the top 100 strongest national brand values in the world; has signed 16 FTAs with more than 60 countries. In the first 9 months of 2024, despite many difficulties and challenges, Vietnam has achieved important results: stable macro-economy, growth in the first 9 months of the year reached 6.82%, inflation was controlled, major balances were ensured; realized FDI capital reached 17.3 billion USD, up 8.9%; social culture was focused; people's lives were constantly improved;...
The results achieved are due to Vietnam's efforts and thanks to the support and companionship of the international community, including China; Vietnam highly appreciates and thanks Chinese enterprises for their practical and effective contributions to Vietnam's socio-economic development in particular and the overall Vietnam-China relationship in general over the past time.
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| Prime Minister Pham Minh Chinh speaks at the seminar. Photo: MPI |
Regarding the orientation of attracting foreign investment, including high-quality investment from China, the Prime Minister said that with the spirit of "harmonious benefits and shared risks", the Vietnamese Government commits to "3 guarantees", "3 communications" and "3 together".
Accordingly, the "3 guarantees" include: Ensuring that the foreign-invested economic sector is an important component of the Vietnamese economy; encouraging and being ready to create favorable conditions for this sector to develop in a long-term, stable, sustainable manner, cooperate and compete healthily and equally with other economic sectors; Ensuring the legitimate and legal rights and interests of investors; not criminalizing economic and civil relations; Ensuring political stability, social order and safety; stability in investment policies and timely policy responses, adapting to developments in a positive direction, beneficial to investors, production and business, constantly improving the investment and business environment so that investors can feel secure in doing business and operating long-term in Vietnam.
Along with that, improving governance and institutional capacity, ensuring "3 through" including: smooth infrastructure, open mechanism, smart governance; to reduce compliance costs, reduce the efforts of investors and businesses, reduce input costs for production and business, increase competitiveness for goods.
"3 together" includes: Listening and understanding between businesses, 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.
The Prime Minister hopes and requests that businesses and entrepreneurs continue to contribute so that the two countries, which have already been closely connected, will become closer, more united, more trustworthy, more effective, together promote growth, and support the two governments in achieving the socio-economic goals set.
The Prime Minister called on businesses of the two countries to focus on connectivity to make breakthroughs, take innovation as a driving force to rise, take "harmonious benefits, shared risks" as a foundation, contributing to helping the two countries raise their economic ties to the same level as the current good geographical and historical ties and political-social relations; contributing to helping the two countries fly high and far in the digital era, the era of green economy, the era of circular economy, the era of development with people at the center, as the subject, as the goal for rapid and sustainable development.
The Prime Minister 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 and perfect institutions, mechanisms and policies.
At the same time, build and implement specific cooperation projects within the framework of established bilateral cooperation mechanisms such as the Vietnam-China Community of Shared Future, the Belt and Road Initiative, Global Security, Global Civilization; multilateral cooperation mechanisms that both sides participate in such as SEAN-China, RCEP; continue to promote economic connectivity, strategic connectivity in various fields, including transport infrastructure connectivity, trade and investment connectivity, global production and supply chain connectivity; 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, long-term and sustainable railway industry.
At the same time, further increase investment in Vietnam, especially large and typical projects in areas where China has strengths in high technology, digital transformation, artificial intelligence, cloud computing, Internet of Things, etc., construction of transport infrastructure, metallurgy industry, healthcare, education, clean energy, climate change response, electric vehicle ecosystem and rechargeable battery, etc.; focus on investment in digital economy, green economy, technology transfer.
The Prime Minister also proposed supporting and creating conditions for Vietnamese enterprises to participate in the value chain and supply chain of Chinese corporations and enterprises; continuing to facilitate the enhancement of bilateral trade; and expanding the import of Vietnamese goods and agricultural and aquatic products.
According to the Prime Minister, in any cooperative relationship, "mutual benefit", "mutual win", "shared risk" can be sustainable and is always the highest goal. Therefore, the Prime Minister hopes and believes that businesses of the two countries will be more closely connected, worthy of the relationship between Vietnam and China.
At the same time, the Vietnamese Government affirmed that it will support and accompany foreign investors, including Chinese enterprises, on the path to prosperous development for both countries. With the close cooperation of the Governments, enterprises and organizations of the two countries, the two countries will achieve even greater successes in the future, and enterprises of the two countries will strongly expand to the world, competing fairly with enterprises of large and advanced countries in the world./.
Source: https://www.mpi.gov.vn/portal/Pages/2024-10-14/Doanh-nghiep-Viet-Nam--Trung-Quoc-Tang-cuong-hop-tz9hcpb.aspx
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