Vietnamese, Chinese Prime Ministers co-chair business forum in Ha Noi
VGP - Prime Minister Pham Minh Chinh called upon China to boost investments in Viet Nam, especially in key sectors where China has strengths, such as hi-tech, digital transformation, transport infrastructure, metallurgy, health care, education, clean energy, climate change mitigation, and electric vehicle and battery ecosystems.
Prime Minister Pham Minh Chinh (center from R) and Chinese Premier Li Qiang (center from L) co-chair the Viet Nam-China Business Forum, Ha Noi, October 13, 2024 - Photo: VGP/Nhat Bac
The Vietnamese Government chief made the call on October 13 at the Viet Nam-China Business Forum on October 13 in Ha Noi.
Under them theme 'Strengthening Mutually Beneficial Cooperation, Shaping the Future Together,' the forum offered a good chance for businesses from both countries to discuss potential and mutual needs for cooperation including in areas such as infrastructure development and connectivity, energy collaboration, digital transformation, the digital economy and banking sectors.
Addressing the event, Prime Minister Pham applauded the business communities of the two countries for their contributions to convert economic, trade and investment cooperation into a highlight and a key pillar of the bilateral relationship.
However, Chinese investments in Viet Nam were still not commensurate with the strong relationship between the two countries, he added.
He suggested the governments of the two countries promote institutional connectivity, strategic infrastructure links, governance and technology transfer, human resource training, especially high-quality personnel and capital investment, focusing on emerging industries.
The Vietnamese Government chief highlited three principles of promoting mutual understanding between businesses, the government and citizens; sharing a common vision and acting together to foster rapid and sustainable development; and working, succeeding, benefiting, developing and celebrating together, sharing pride and happiness.
Prime Minister Pham called on both Chinese and Vietnamese enteprises to consult with their governments, ministries and local authorities to remove barriers in production, trade and business, while improving the investment environment and enhancing legal frameworks and policies.
He urged ministries, local authorities and businesses from both countries to develop and implement specific cooperative projects within the framework of established bilateral cooperation mechanisms.
He took the occasion to suggest China support and facilitate the integration of Vietnamese enterprises into the value and supply chains of Chinese corporations and increase import of Vietnamese goods, including agricultural and aquatic products.
Premier Li Qiang proposed the two sides vigorously pursue technical and technological collaboration, working together to enhance their competitiveness in the global value and supply chains, such as in renewable energy and electric cars.
The Chinese Government enables businesses to connect with Vietnamese companies to build cross-border production and supply chains, with attention to creativity and development in clean energy sectors, Li said.
During the January-September period, two-way trade turnover valued US$148.6 billion, with Viet Nam's exports worth US$43.6 billion, up 1 percent from the previous year, while imports hitting US$105 billion, a year-on-year increase of 32.5 percent.
With the strong trade momentum in the first half of the year, the figure is expected to surpass US$200 billion by the end of this year./.
