PM Chinh calls on China to go ahead with expanded investment in Vietnam
VOV.VN - Prime Minister Pham Minh Chinh has called on Chinese investors to continue expanding investment in the Vietnamese market amid the Government ensuring an open and healthy investment environment for investors.
PM Chinh attended the Vietnam - China Trade and Investment Cooperation Forum on June 28 in Beijing within the framework of his official visit to China.
The forum was jointly organised by the China Council for the Promotion of International Trade and the Vienamese Ministry of Planning and Investment and also saw the attendance of Chinese Vice Premier Liu Guozhong, leaders of ministries and agencies, as well as representatives from more than 350 enterprises of both countries.
Participants introduced information regarding the current economic development situation, the business and investment environment, investment attraction policies of each country, as well as the bilateral co-operation situation. In addition, they shared lessons and experiences in investment and business in each country.
Vice Premier Liu said that the joint political trust is in the process of being consolidated, with economic, trade, and investment collaboration maintaining growth.
The country represents China's fourth largest trade partner in the world, with last year’s two-way trade reaching US$175 billion, duly accounting for a quarter of the total trade turnover between China and ASEAN. Meanwhile, the northern neighbour is the largest trade partner of the bloc, of which Vietnam is an active member.
According to the Chinese leader, his country is set to launch a broad array of business and investment co-operation activities, with a particular focus on green development, the digital economy, and climate change adaptation. China therefore encourages and creates favourable conditions for competent enterprises to invest in the Vietnamese market.
He suggested that the Vietnamese side continue to create favourable conditions and protect the legitimate interests of enterprises, as well as Chinese ones, for the development of each country and for the cause of peace, security, prosperity, and friendship in the ASEAN region and around the world.
PM Chinh underlined the necessity of finding the best solution for investors and researchers to contribute to the development of bilateral relations, whilst requesting that authorities continue reviewing and perfecting the legal framework, mechanisms, and policies. This should be done alongside improving the business environment to create favourable conditions for businesses to better promote trade and investment between the two sides.
It is therefore essential to have an exclusive working group on trade and investment, he said, adding that there remains plenty of room to further develop bilateral economic, trading, and investment relations.
In order to help Vietnamese products gain a firm foothold within the Chinese market, he requested that Vietnamese firms exert more efforts in improving the quality of exports.
Vietnam is prioritising investment projects in high technology, innovation, and development research, whilst encouraging public-private partnership, PM Chinh stated, calling for Chinese investments to be made in strategic infrastructure works such as highways and railways.
The country will therefore continue improving its business and investment environment towards transparency, convenience, and international competitiveness. This will be done by reviewing and fine-tuning mechanisms, policies, and laws; reducing and simplifying administrative procedures and business conditions; developing high-quality human resources and infrastructure; and initiating timely policy response to issues which develop.
Regarding trade promotion, it can be seen as necessary to adopt specific mechanisms and policies in a bid to promote bilateral trade in a more balanced manner, whilst encouraging border trade and studying the formation of appropriate border trade zones, developing logistics systems, connecting supply chains, promoting e-commerce, and ramping up co-operation against smuggling and trade fraud, the Vietnamese PM stressed.
He also welcomed the building of a smart border gate model between the Vietnamese province of Lang Son and the Chinese province of Guangxi.
The same day saw the Vietnamese Government leader host a reception for leaders of several major economic groups of China that are investing in and wishing to expand production and business in the Vietnamese market.
The groups' officials proposed that the Vietnamese Government and the PM continue to reform administrative procedures, provide a stable supply of electricity for production and enough materials for ground clearance to build industrial parks, and remove obstacles in regulations on fire prevention and control.
Acknowledging the proposals put forward by Chinese enterprises, the Vietnamese cabinet leader said that the nation is encouraging businesses, including those from China, to invest in renewable energy, power transmission system building, and supporting industry for the apparel sector.