Vietnam ready to offer optimal conditions for co-operation with Chinese localities

National Assembly (NA) Chairman Vuong Dinh Hue made the statement at a policy and law forum held on April 12 in Kunming city of Yunnan province in China.

This marks the second forum to feature the participation of more than 450 business representatives from both countries, with the ultimate aim of promoting investment and trade ties between both sides within the framework of the official visit to the neighbouring country by the top Vietnamese legislator.

The occasion was held in Yunnan province, a locality that shares a border with Vietnam and is one of the growth engines of China's southwest region whilst having an important connection position with ASEAN member states as well as Vietnam. The forum is viewed as an opportunity for the two sides to share trends, new investment co-operation opportunities, and solutions to reform the investment environment of each country.

This is along with making proposals aimed at improving the overall efficiency of co-operation, aiming for the common success of businesses when investing and doing business in the Vietnamese market and in Yunnan province.

In his address, NA Chairman Hue expressed his positive impression of the dynamic and effective development of Yunnan province and Kunming city.

Regarding overall relations with China, the nation attaches importance to relations with localities sharing a common border, including Yunnan province, NA Chairman Hue said, while hailing the good co-operative relationship between Yunnan province and the country, particularly the northern border provinces of Vietnam over recent times.

He affirmed the Vietnamese NA's readiness to accompany and support co-operation between Vietnamese localities and Yunnan, helping it increasingly develop strongly so as to bring practical benefits to the people of both sides.

As a means of further promoting the potential and strengths of both sides, the top Vietnamese legislator suggested accelerating the connection of development strategies and effectively deploying co-operation documents signed during the visit to Vietnam by Party General Secretary and President of China Xi Jinping in a swift manner.

According to NA Chairman Hue, these represent important items to intensify trade activities between the two sides, thereby creating favourable conditions for the people of Lao Cai and Yunnan provinces in particular, as well as Vietnam and China in general, to bolster trade and investment linkages.

Based on the potential and strengths in terms of capital scale, technological level, and management experience, the NA leader said that Yunnan businesses boast advantages when investing in a number of industries and fields in Vietnam. This includes the processing industry, manufacturing, high-tech agriculture, bio-industry, the green economy, the digital economy, the circular economy, the knowledge-based economy, transportation infrastructure development, highways, high-speed railways, and urban railways.

To further make full use of existing mechanisms, NA Chairman Hue asked relevant agencies to closely follow the actual needs of the people of both sides in a bid to create a favourable economic environment for import and export activities and the business investment in the region, making it possible for enterprises to move into international markets.

“This is also a good opportunity for us to share together new investment trends, opportunities, and solutions to reform the investment environment of each country.

The Vietnamese NA has and will always accompany the entire political system to promulgate many appropriate policies, build a transparent, fair, and comprehensive legal framework, offering the best possible conditions for foreign investors as well as Chinese enterprises to do business smoothly and successfully in Vietnam.

We always consider your success as our own success. Thereby, together we can concretize new achievements and new functions of the Vietnam-China comprehensive strategic cooperative partnership, thus helping the relationship between the two Parties and the two countries constantly develop in an extensive and sustainable fashion,” the NA leader continued to say.

Earlier, in his welcome speech, on behalf of the Provincial Party Committee and the Yunnan provincial government, Liu Yong, vice chairman of the Yunnan provincial government, expressed his confidence that the forum will help to consolidate trust and open up plenty of new co-operation opportunities in economics, trade, and investment between Yunnan and Vietnamese localities.  

The economic and trade links that exist between Yunnan and Vietnamese localities have been flourishing over recent times based on the foundation of the political trust between leaders of the two Parties and nations, as well as the friendship between people, he said.

Yunnan will strive to boost the mutually beneficial collaboration, especially in the areas of its strengths and Vietnamese localities’ needs, he emphasized.

On this occasion, NA Chairman Hue and other delegates witnessed the exchange of co-operation documents between the two nations’ enterprises, covering aviation, supply chain finance, robot design, and manufacturing, among others.

Within the framework of the top Vietnamese legislator’s visit, the national flag carrier Vietnam Airlines signed a memoranda of understanding with Chinese partners worth US$438 million as a contribution to stepping up trade and tourism between both sides amid aviation and tourism going through a difficult period caused by the COVID-19 pandemic.