Vietnam - China Business Forum: Together for strong and prosperous development

(PLVN) - On the morning of November 8, in Chongqing city, on the occasion of attending the 8th Greater Mekong Subregion (GMS) Summit and visiting and working in China, Prime Minister Pham Minh Chinh attended the Vietnam - China Business Forum. The Prime Minister asked businesses of the two countries to promote cooperation, investment and business, promote the role of connecting the two economies , and develop together strongly and prosperously.

The seminar was organized by the Ministry of Planning and Investment , the State Capital Management Committee at Enterprises and the Vietnamese Embassy in China in coordination with the Chongqing municipal government.

Economic, trade and investment cooperation has become a bright spot.

At the seminar, delegates said that the good development of the relationship between the two countries is an extremely important factor, creating great opportunities for the business communities of both sides. To concretize the commitments and common perceptions of the senior leaders of the two Parties and two States, the role of the business communities of China and Vietnam is extremely important.

In particular, the top leaders of the two Parties and two countries agreed to elevate the comprehensive strategic cooperative partnership, building a Vietnam-China Community of Shared Future with strategic significance with the connotation of “6 more”. In particular, with the third content “deeper substantive cooperation”, economic, trade and investment cooperation has become a bright spot and an important pillar in the relationship between the two countries with some outstanding results.

In China, Chongqing has an important position and special status, being the leading economic, commercial, cultural, educational , scientific, technological, and logistical center of the western region of China, an important fulcrum of the “Great Development of the West” strategy and the “Silk Road on Land” initiative, the starting point of the new maritime and land transport corridor, and an important center of the China-Europe railway. In recent years, friendly exchanges and mutually beneficial cooperation between Chongqing and Vietnamese localities have been increasingly promoted.

Delegates said that the potential for cooperation between Chongqing and Vietnamese localities is still very large and open. With the two sides officially confirming the establishment of the Vietnamese Consulate General in Chongqing, exchanges and cooperation in various fields between Chongqing, neighboring localities and Vietnamese localities will develop to a new level, more deeply, substantially and effectively, bringing great benefits to businesses and people of both sides.

Win together, enjoy together, develop together

Speaking at the seminar, Prime Minister Pham Minh Chinh emphasized the similarities and closeness between Vietnam and China in terms of nature, culture and history. With these foundations, it is necessary to promote economic, trade and investment cooperation more strongly and effectively.

By the end of October 2024, China had nearly 5,000 valid investment projects in Vietnam with a total registered capital of nearly 30 billion USD. In the first 9 months of 2024, China continued to lead in the number of new investment projects and ranked second in total registered investment capital. Bilateral trade turnover in 2023 reached nearly 172 billion USD...

Vietnam is promoting three strategic breakthroughs in building open institutions, developing strategic infrastructure and training high-quality human resources, following the orientation of "open institutions, transparent infrastructure, smart governance"; promoting improvement of the investment and business environment, creating a public, transparent, equal and healthy business environment, reforming administrative procedures in a simple and quick direction, reducing logistics costs, input costs, compliance costs, and improving product competitiveness...

The Prime Minister suggested that businesses of the two countries promote investment and business cooperation, promote the role of connecting the two economies, both in terms of hard and soft connections, traffic connections, telecommunications infrastructure, etc., contributing to concretizing the agreements of the top leaders of the two Parties and two countries, bringing benefits to businesses, the two countries and the two peoples, together developing strongly and prosperously, bringing a prosperous and happy life to the people.

The Prime Minister emphasized the viewpoint of “harmonized benefits, shared risks”, harmonizing interests between the State, enterprises and people, “listening and understanding together, sharing vision and action together, doing together, winning together, enjoying together, developing together, sharing joy, happiness and pride”.

Regarding the proposals of enterprises, the Prime Minister said that the two countries are currently implementing smart customs to simplify customs clearance procedures. Along with that, the authorities of the two countries have been implementing policies related to logistics infrastructure development, financial support, technical cooperation, especially focusing on developing emerging industries such as digital economy, green economy, circular economy, etc., implementing traceability of products, packaging, product designs, etc.

At the seminar, businesses from the two countries signed seven memorandums of understanding (MOUs) in many fields, including the MOU between Vietnam Railways Corporation, the Military Industry and Telecommunications Group (Viettel) and the New Road and Sea Corridor Operation Company.

Source: https://baophapluat.vn/toa-dam-doanh-nghiep-viet-nam-trung-quoc-cung-nhau-phat-trien-hung-cuong-thinh-vuong-post531358.html