The seminar was organized by the Vietnamese Ministry of Planning and Investment in coordination with the Chinese Ministry of Commerce, on the occasion of Prime Minister Li Qiang’s official visit to Vietnam. Also attending were leaders of ministries, sectors and representatives of typical corporations and enterprises of the two countries.
With the theme "Enhancing mutually beneficial cooperation, joining hands to create the future", leaders of typical corporations, businesses and banks of the two countries attending the seminar introduced the potential and strengths of each side, outstanding cooperation opportunities in the coming time, focusing on 4 areas: Infrastructure development, traffic connection, especially railway; green energy; digital economy ; finance and banking.
According to information at the seminar, 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 number will be much higher.
China's investment in Vietnam has increased more than seven times, becoming the 6th largest investor out of 148 in Vietnam. China has emerged as the leading partner in terms of the number of new investment projects in Vietnam in the past two years.
Minister of Planning and Investment Nguyen Chi Dung hopes that the seminar will open up many new cooperation opportunities, helping businesses of the two countries make the most of each other's potential and strengths to adapt and develop together; contributing to raising the level of bilateral economic relations in the new era.
Speaking at the seminar, Prime Minister Pham Minh Chinh and Prime Minister Li Cuong said that in recent times, 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 deeper, more substantial and comprehensively.
The top leaders of the two Parties and two countries agreed to elevate the Comprehensive Strategic Cooperative Partnership and build a Community of Shared Future of strategic significance (December 2023).
Creating motivation and inspiration to connect the economies and businesses of the two countries
According to Prime Minister Pham Minh Chinh, this visit to Vietnam by Prime Minister 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 perceptions of the two countries.
This creates motivation, inspiration, and spreads extremely positive effects on the activities connecting the economies and business communities of the two countries, creating new momentum and impetus in promoting more substantive, comprehensive, and effective cooperation between the two countries in the coming time.
Prime Minister Pham Minh Chinh said that he and Prime Minister Li Cuong had a cordial, sincere, open, comprehensive, profound, effective, and practical meeting, achieving many positive results, and witnessed the signing of important cooperation documents between the two countries in many fields.
Appreciating the speeches and cooperation ideas of businesses at the seminar, the Prime Minister hopes that businesses will do what they said they would 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 particular, sustainable economic development cooperation is one of the key factors.
According to the Prime Minister, in recent times, the social foundation in the two countries' cooperative relationship has been better, mutual trust has been increasingly high; creating very favorable conditions for economic, investment, trade and business activities of the two countries.
However, economic relations are not yet commensurate with 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 business connection.
Prime Minister Pham Minh Chinh said that to do this, the two governments need to further promote: Institutional connectivity; strategic infrastructure connectivity; smart 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; supply chain connectivity, production chain connectivity, value chain connectivity, etc.
"We welcome businesses to proactively and actively connect and cooperate with each other on the basis of the good relationship between the two countries," said the Prime Minister.
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 of Chinese enterprises are not yet commensurate with the good relationship between the two countries; with the potential of Chinese enterprises and the different potential, outstanding opportunities, and competitive advantages between the two countries.
Informing about Vietnam's development achievements, socio-economic situation, and investment environment after nearly 40 years of renovation and in the first 9 months of 2024, the Prime Minister highly appreciated and thanked Chinese enterprises for their practical and effective contributions to Vietnam's socio-economic development and the overall Vietnam-China relationship in recent times.
Sharing the orientation to attract 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".
The "3 guarantees" include: (1) 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; (2) Ensuring the legitimate and legal rights and interests of investors; not criminalizing economic-civil relations; (3) Ensuring political stability, social order and security; stability in investment policies and timely policy responses, adapting to developments in a positive direction, beneficial to investors, beneficial to 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, improve governance and institutional capacity, ensure "3 things" including: smooth infrastructure, open mechanisms, smart governance; to reduce compliance costs, reduce the efforts of investors and businesses, reduce input costs for production and business, and increase competitiveness of goods.
"3 together" includes: (1) Listening and understanding between businesses, the State and the people; (2) Sharing vision and actions to cooperate and support each other for rapid and sustainable development; (3) 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 are already closely connected, will become closer, more united, more trusting, and more effective, together remove difficulties, overcome challenges, promote growth, and support the two governments in achieving the set socio-economic goals.
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 and 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 age, the green economy era, the circular economy era, the era of development with people at the center and 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, branches and localities of the two countries to remove barriers to production, business and trade, improve the investment environment and perfect institutions, mechanisms and policies.
Along with that, build and implement specific cooperation projects within the framework of established bilateral cooperation mechanisms, multilateral cooperation mechanisms in which both sides participate; continue to promote the connection of the two economies, strategic connection in various fields, including traffic infrastructure connection, trade and investment connection, production and supply chain connection; promote cooperation in implementing railway projects connecting Vietnam - 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 increase 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. The Prime Minister believes that with the close cooperation of the Government, businesses and organizations of the two countries, the two sides will achieve even greater success in the future, businesses of the two countries will strongly expand to the world, compete fairly with businesses of large and advanced countries in the world.
"Vietnam-China economic cooperation has special strengths"
For his part, Prime Minister Li Qiang expressed his satisfaction, encouragement and motivation with the speech of Prime Minister Pham Minh Chinh; and completely agreed with the strong support of the two governments for businesses of the two countries. He said that the Chinese government and ministries and sectors will carefully study the opinions at the seminar so that businesses of the two countries can continue to strengthen cooperation in various fields.
Prime Minister Li Qiang assessed that in recent years, the Vietnam-China relationship has developed healthily and stably, with abundant practical cooperation results. Emphasizing the achievements after 74 years of establishing diplomatic relations, Prime Minister Li Qiang said that in the Vietnam-China relationship, the development of each side is an important opportunity for the other.
In particular, economic and trade cooperation has always been the highlight of bilateral cooperation, and also an important driving force to promote bilateral relations. In this field, China and Vietnam have always steadfastly promoted cooperation, demonstrating the great endogenous strength of each side. Looking to the future, economic cooperation between the two countries still has much room for exploitation and much potential for continuous development.
In the coming time, the Chinese Prime Minister suggested that the two sides continue to pay attention to key aspects of economic cooperation, specifically continuing to connect development strategies; connecting the two countries, strengthening the connection between the "Two Corridors, One Belt" Framework and the "Belt and Road" Initiative; persistently opening up to each other, promoting market linkages and cross-border economic cooperation; actively connecting transport infrastructure, promoting travel and people-to-people exchanges; constantly consolidating and promoting complementary strengths, and jointly enhancing competitiveness in the global value chain and supply chain; promoting cooperation in new fields such as wind power, solar power, electric vehicles, etc.
Assessing that the two countries have special strengths in cooperation that many other countries do not have, Prime Minister Li Qiang affirmed his belief in the future of economic and trade cooperation between the two countries, hoping that businesses will follow the big trend, seize opportunities, develop their own businesses, and contribute to the common development of the two countries. According to the Chinese Prime Minister, the two sides need to continue to promote solidarity, cooperate sincerely and persistently, bring mutual benefits, bring common prosperity, and win-win.
Prime Minister Li Cuong hopes that businesses from both countries will pay attention to, follow, and learn about major and important policies between the two countries to proactively and actively participate; make good use of bilateral and multilateral economic agreements; promptly grasp opportunities, and mobilize cooperation resources.
The Chinese Prime Minister also hopes that businesses from both countries will cooperate to promote the harmonious development of industries based on their own characteristics. The Chinese side encourages Chinese businesses to strengthen their connections with Vietnam, building a stable and smooth cross-border supply and production chain.
Along with that, focus resources, strengthen cooperation in innovation, research and development, especially in the fields of clean energy, biology, medicine, artificial intelligence and other emerging fields.
The Chinese Prime Minister believes that with the joint efforts of businesses of the two countries, Vietnam-China economic and trade cooperation will certainly achieve even greater new results and the future of the two countries will certainly become increasingly bright.
Source: https://baotainguyenmoitruong.vn/thu-tuong-pham-minh-chinh-va-thu-tuong-ly-cuong-tham-du-toa-dam-doanh-nghiep-viet-nam-trung-quoc-381546.html
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