PM asks Chinese firms to leverage Việt Nam as production hub

PM asks Chinese firms to leverage Việt Nam as production hub

He called for increased investment in new growth drivers such as semiconductor, artificial intelligence, cloud computing, the Internet of Things, and other new technology.

Prime Minister Prime Minister Phạm Minh Chính met with representatives of some major Chinese companies in Hà Nội on Friday.

HÀ NỘI — Prime Minister Phạm Minh Chính has expressed his hope that Chinese firms twill capitalise on Việt Nam as a hub for production and trade, powered by the rapid and sustainable growth of such emerging sectors as digital economy, green economy, circular economy, knowledge-based economy, and sharing economy.

During a dialogue with Chinese companies in Hà Nội on February 28, PM Chính encouraged them to step up technology transfer, enabling Vietnamese firms to join the global value chain and expand their investment horizons.

He called for increased investment in traditional growth drivers such as investment, exports, and consumption, while also fostering new growth engines, especially in semiconductor, artificial intelligence, cloud computing, the Internet of Things (IoT), optoelectronics, quantum technology, biotechnology, new materials technology, and high-value services like digital payment solutions.

The Chinese enterprises were asked to continue providing Việt Nam with valuable insights to refine its institutional framework and share smart governance expertise.

The PM also highlighted critical areas for investments, including clean and renewable energy, transportation infrastructure such as railways, airports, seaports, and highways, as well as industrial parks and economic zones.

He suggested that the companies promote digital payments, expand the scope of local currency payments, invest in financial centres, advance green finance, and boost two-way trade via the establishment of border economic zones and smart border gates.

For Việt Nam to achieve the GDP growth rate of 8 per cent this year, all sectors, localities, units, businesses and citizens must demonstrate strong determination and take drastic actions, he added. "This requires the collective effort of the business community, including Chinese enterprises," he said.

In return, Chinese Ambassador to Việt Nam He Wei and Chinese firms praised Việt Nam's investment-friendly climate and immense growth potential, especially the Vietnamese Government’s consistent support and frequent dialogues with investors to tackle their challenges.

The Chinese companies expressed keen interest in expanding investments and raised proposals regarding projects in urban development, Việt Nam-China railway connectivity, urban rail systems in Hà Nội and HCM City, expressways, seaports, renewable energy, financial and banking centres, electric vehicle production, digital infrastructure, science and technology, and aviation.

They also requested further streamlining of administrative procedures, labour permits, and visa policies to enhance operational efficiency. 

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