Viet Nam, China seek to set new trade records
Prime Minister Pham Minh Chinh attended the Viet Nam-China Trade and Investment Cooperation Forum in Beijing on June 28 as part of his ongoing visit to the neighboring country
Prime Minister Pham Minh Chinh addresses the Viet Nam-China Trade and Investment Cooperation Forum in Beijing, June 28, 2023 - Photo: VGP/Nhat Bac
Addressing the event, Chinese Vice Premier Liu Gouzhong said that as the world is changing faster, thus China and Viet Nam need to work to take their trade cooperation to the next level.
The promotion of development connectivity between the two countries is of great significance. China is willing to work with Viet Nam to fully promote the China-ASEAN Free Trade Agreement. And, it looks to establish a balanced trade ties with Viet Nam.
There are vast room for the two countries to cooperate to broaden the supply chains, he added.
China, said Vice Premier Liu Gouzhong, supports and will organize many promotional activities, investment and business cooperation; prioritize green development, digital economy, adaptation to climate change; encourage and create conditions for enterprises with capability, reputation and high technology to invest in Viet Nam.
He suggested that Viet Nam continue to create favorable conditions and protect the legitimate interests of enterprises in general and Chinese enterprises in particular, for the development of each country in particular and for peace. security, prosperity, beauty and friendship in the ASEAN region and the world.
The Chinese side is willing to join hands with Viet Nam in promoting multilateralism and win-win spirit.
Prime Minister Pham proposed competent agencies of the two countries continue to review and perfect legal frameworks, mechanisms, policies to facilitate business operation and spur trade and investment activities.
He took the occasion to call upon Chinese investors to continue to expand investment in Viet Nam.
The Prime Minister also pledged that the Vietnamese Government ensures an open and healthy investment environment for investors.
Viet Nam is currently the fourth largest trade partner of China, with bilateral trade reaching US$ 175 billion in 2022 and US$ 61.5 billion in the first five months of 2023.
China poured US$1.08 billion into 156 projects in Viet Nam between January - May, establishing itself as the third biggest foreign direct investor here (after Singapore and Japan).
As of May 20, China ranked sixth among the 143 countries and territories with FDI in Viet Nam, with 3,720 valid projects totaling nearly US$ 24.9 billion./.
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