Vietnam is a bridge between China and Southeast Asian countries.

On September 13-14, 2023, Minister of Planning and Investment (MPI) Nguyen Chi Dung attended the 8th Belt and Road Summit (BRI) with the theme "Celebrating the 10th Anniversary of the Belt and Road Initiative" in Hong Kong, China. Also attending were a number of leaders of units under the Ministry of Planning and Investment .

The conference was hosted by the Government of the Hong Kong Special Administrative Region (China), with the participation of leaders from several ASEAN, Middle Eastern, and European countries; representatives of corporations and international organizations... The conference was held to strengthen international cooperation and explore new opportunities for economic growth.

Since 2016, the Belt and Road Summit has become a gathering place for senior government officials, representatives of international organizations, business leaders and industry experts from countries at home and abroad in the Belt and Road region to exchange insights on multilateral cooperation opportunities arising from the Belt and Road Initiative and explore potential business opportunities.

Speaking at the policy discussion session with the theme “Belt and Road Initiative - a catalyst for regional cooperation and development”, Minister Nguyen Chi Dung said that Vietnam has the position of a “bridge” between China and Southeast Asian countries. Therefore, cooperation between Vietnam and China within the framework of the Belt and Road Initiative is meaningful in promoting regional cooperation and connectivity. Currently, the Ministry of Planning and Investment of Vietnam and the National Development and Reform Commission of China are promoting the conclusion of negotiations on the Connectivity Plan between the Two Corridors, One Belt framework and the Belt and Road Initiative.

In the context of increasingly improved friendly relations between Vietnam and China, political trust has been more firmly consolidated, economic cooperation and connectivity between the two countries have been strong. In terms of investment, as of August 2023, Chinese investors had nearly 4,000 projects in Vietnam, with a total registered capital of 26 billion USD, ranking 6th out of 143 countries and territories investing in Vietnam. In the first 8 months of 2023, China was the 2nd largest investor in Vietnam with a total newly registered capital of nearly 2.7 billion USD. In terms of trade, China has always been the largest partner, the largest goods supplier and the second largest export market of Vietnam.

At the policy discussion, Minister Nguyen Chi Dung shared about the situation and experience of Vietnam's economic development. Accordingly, in recent years, Vietnam has effectively implemented three strategic "breakthroughs" in institutional reform, infrastructure development, and improving the quality of human resources. Vietnam is focusing on renewing the growth model based on science - technology and innovation, promoting human resources; actively implementing digital transformation, green transformation, towards the goal of zero net emissions by 2050 and becoming a high-income developed country by 2045. The Minister welcomed and welcomed international investors in general, and Hong Kong in particular, to invest in Vietnam in the spirit of "harmonious benefits, shared risks", equality, sincerity, mutual benefit, and respect for international law.

Minister Nguyen Chi Dung highly appreciated Hong Kong's role as a bridge between the Greater Bay Area (including Hong Kong, Shenzhen, Guangzhou) and Vietnam and Southeast Asian countries, especially in the fields of science and technology development, innovation, investment cooperation, finance, trade, logistics and transportation.

In order for the Belt and Road Initiative to continue to be a “catalyst for regional cooperation and development” in the coming time, Minister Nguyen Chi Dung proposed a number of recommendations such as: Vietnam, China and countries in the region need to strengthen policy connectivity, actively exchange information, and share development experiences. Countries in the region should accelerate development and connect transport networks, especially railway networks. At the same time, promote trade facilitation, open up goods and agricultural products of countries to each other's markets...

On the occasion of the Conference, Minister Nguyen Chi Dung had meetings with Chief Executive of the Hong Kong Special Administrative Region Lee Ka-chiu; met with the UAE Minister of Economy, and worked with a number of business leaders and economic groups in Hong Kong such as Sunwah Group, Swire Pacific Group, Jardine Matheson Group, Hong Kong Stock Exchange, etc.

Exchanging opinions with business representatives, the Minister introduced the economic situation and investment environment of Vietnam; said that Vietnam is converging all factors of political stability, large market, abundant human resources... worthy of investors' attention; hoped that international businesses investing in Vietnam would share the vision, connect with domestic businesses to rise together in the global value chain.

Hong Kong businesses expressed their desire to invest and support Vietnam's development in the fields of finance, trade, innovation, real estate, aircraft repair and maintenance, etc., and support small and medium enterprises and Vietnamese farmers to improve the quality and efficiency of agricultural production and export./.

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