At the meeting, Chinese businesses operating in the fields of infrastructure, energy, manufacturing, information technology, telecommunications, and banking expressed confidence in Vietnam’s growing economy with promising prospects. They highly appreciated the country’s improved business and investment environment, recognizing it as an attractive global investment destination and a key link in the global supply chain.

The businesses expressed their desire to expand investment and business activities, focusing on strategic infrastructure, especially transportation, as well as new growth drivers such as the green economy, digital economy, circular economy, electronics, information technology, and clean energy, along with emerging industries.

They also proposed that the Vietnamese government and relevant ministries address certain difficulties and obstacles to further strengthen bilateral economic, trade, and investment relations in a deeper, more substantial, and effective manner.

In his speech, Chinh welcomed Chinese businesses’ recommendations and asked relevant ministries and agencies of Vietnam to meet and address their concerns.

He outlined major emerging trends globally, including polarization, population aging, climate extremism, resource depletion, market diversification, product and supply chain diversification, and digitalization. Meanwhile, Vietnam is a developing country with a transitioning economy which is highly susceptible to external influences.

In recent years, despite the prolonged impact of the COVID-19 pandemic, he said, Vietnam’s economy has remained fundamentally stable, with inflation controlled, growth promoted, macroeconomic stability maintained, and major economic balances ensured.

At present, the country is accelerating economic growth, by setting a target of GDP growth of at least 8% in 2025, laying the foundation and momentum to achieve double-digit growth in the coming years. This is an ambitious and highly challenging goal, yet it must be pursued to meet long-term development objectives. Beside national resources, he said, Vietnam is seeking support and cooperation of international friends and partners, including Chinese enterprises.

According to the PM, the relationship between Vietnam and China is developing well, built on mutual understanding, sincerity, trust, and shared economic growth. This partnership aligns with the aspirations of both countries’ people, national interests, and the evolving global and regional landscape.

This strong relationship must be translated into concrete plans, programs, and projects that yield measurable material and financial outcomes, he stressed.

He introduced the participating businesses on Vietnam’s development orientations, with a primary focus on accelerating the implementation of the three strategic breakthroughs, namely institutions, infrastructure, and human resources. To do this, he said, it is trying to facilitate and support businesses and investors by improve a transparent and equitable business and investment environment, and to ensure that civil and economic relations are not criminalized.

Vietnam facilitates favourable conditions for businesses and investors based on the principle of balancing benefits and sharing risks, while protecting the legitimate rights and interests, as well as guaranteeing equal access to policies for businesses and investors, he stressed.

The PM urged Chinese businesses to consider Vietnam as a key hub for production and business operations, contributing to the country’s development in the digital economy, green economy, and circular economy.

He emphasized the importance of rapid yet sustainable growth while also engaging in social welfare activities alongside business expansion. He called for ethical and lawful business practices, mutual listening and collaboration, shared vision and actions, and a spirit of joint effort, mutual success, and support during difficult times.

The PM encouraged Chinese businesses to enhance high-tech transfer, assist Vietnamese businesses in scaling up and advancing technologically, and integrate them into the global value chain.

He also urged increased investment, particularly in both traditional growth drivers like investment, exports, and consumption, and emerging industries such as big data, cloud computing, optoelectronics, the Internet of Things, biomedical industries, high-end services, and digital payment technologies.

Furthermore, the Vietnamese leader emphasized investment in clean energy, particularly renewable energy, and infrastructure projects, including railways, airports, seaports, and expressways. He also highlighted the need for investment in industrial zones, economic zones, and financial centers, along with promoting digital payments, QR-based transactions, and local currency settlements.

Last but not least, he suggested fostering bilateral trade, developing border economic zones, and constructing smart border gates.

Vietnam-China relations at their best in history: scholar

Vietnam-China relations are at their most prosperous period in history, marked by the two nations entering a new era of building a China-Vietnam community with a shared future that carries strategic significance, said a Chinese scholar.