Vietnam, China pledge to facilitate business cooperation, deepen economic connectivity
Vietnam, China pledge to facilitate business cooperation, deepen economic connectivity
Vietnamese Prime Minister Pham Minh Chinh and China's Premier Li Qiang have pledged to encourage and support businesses in strengthening cooperative partnerships and enhancing the economic ties between the two countries.
Vietnamese Prime Minister Pham Minh Chinh (L, 3rd, front row) and his Chinese counterpart Li Qiang (L, 2nd, front row) are seen among other delegates posing for a photo at a Vietnam-China business workshop in Hanoi, October 13, 2024. Photo: Quang Phuc |
On Sunday, the two leaders attended the Vietnam-China business workshop jointly organized in Hanoi by the Chinese Ministry of Commerce and the Vietnamese Ministry of Planning and Investment.
At the event, representatives of many leading Chinese enterprises expressed keen interest in Vietnam’s infrastructure projects, including those for railway connections with China, urban railways, and the north-south high-speed railway in Vietnam.
Both agreed that they are ready to join projects that promote smart cities and smart manufacturing, set up data centers, and strengthen e-commerce to boost green and sustainable development in both countries.
Meanwhile, Vietnamese enterprises called on both governments to facilitate stronger connections between businesses from both countries, especially in areas where Vietnam has specific needs and China possesses the experience and capabilities to assist.
The enterprises wanted support for cooperation in financial resources, sci-tech, infrastructure management, payment connectivity, 5G networks, digital infrastructure, AI, and renewable energy.
PM Chinh told the participants that the current bilateral economic relations have yet to match the great potential for cooperation between the two countries.
He believed that enterprises from both sides need to effectively beef up their business partnership as one of the focuses of the connectivity of the two economies for common interests.
He urged enterprises to actively and proactively connect and support each other in the spirit of ‘harmonized benefits and shared risks,' ensuring the harmonization of interests between the state, enterprises, and people.
Chinese PM Li expressed his satisfaction with PM Chinh’s remarks and agreed on the importance of government support for businesses in both countries, underlining that there is significant potential for further growth in their economic and trade relations.
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| Vietnamese Prime Minister Pham Minh Chinh (R) gestures while he and his Chinese counterpart Li Qiang attend a Vietnam-China business workshop in Hanoi, October 13, 2024. Photo: Quang Phuc |
He also suggested that the two sides continuously consolidate and complement each other's strengths.
“China has strengths in wind power, solar power, and electric vehicles, whose development levels are among the top of the world," Li said.
"These fields are suitable for Vietnam's energy transition needs, so mutually beneficial cooperation should be boosted in these areas.”
Li affirmed that the two countries share strong political trust and confidence in their future cooperation, while urging businesses to seize opportunities to enhance close collaboration for mutual development.
He encouraged companies to capitalize on both bilateral and multilateral agreements to find new partners and broaden cooperation.
He also reiterated China’s commitment to encouraging and supporting local enterprises in connecting with Vietnamese businesses, with a focus on building cross-border production and supply chains.
Li expressed confidence that with both governments working together to strengthen enterprise connections and improve economic integration, bilateral economic and trade cooperation will see even greater success in the near future.
The relationship between Vietnam and China has flourished across various sectors, particularly since they established a comprehensive strategic partnership in 2008.
Next year, the two nations will celebrate the 75th anniversary of their diplomatic relations.
Currently, Vietnam is China’s biggest trade partner in Southeast Asia and its fifth-largest trade partner in the world, after the U.S., Japan, South Korea, and Russia.
Meanwhile, China is Vietnam’s largest trade partner and the latter’s second-biggest importer.
According to the General Department of Vietnam Customs, during the first nine months of 2024, two-way trade amounted to US$149.2 billion, of which $44.4 billion was the value of Vietnamese exports to China, an increase of 2.94 percent.
PM Li has been on a three-day official visit to Vietnam since Saturday.
