Vietnam always attaches importance to developing the friendly, stable, healthy and sustainable relationship with China, considering this one of the top priorities in the country’s foreign policy, said Prime Minister Nguyen Xuan Phuc. 

Prime Minister Nguyen Xuan Phuc (left) and Chinese Party General Secretary and President Xi Jinping 

He made the statement at a meeting with Chinese Party General Secretary and President Xi Jinping in Shanghai on November 4 as part of his trip to China to attend the first International Import Expo of China (CIIE 2018) on November 4-5. 

PM Phuc called for joint efforts to maintain high-level visits and meetings, increase mutual political trust, promote important cooperation mechanisms between the two Parties and countries, further utilise potential of each side and boost cooperation in areas that make practical progress. 

The guest congratulated China on achievements the country has recorded after 40 years of reform and opening-up, and expressed his wish that under the leadership of the Communist Party of China led by Xi Jinping, the Chinese people will soon turn China into a modern socialist country that is prosperous, democratic, civilised, harmonious and beautiful. 

He also lauded China’s initiatives to contribute to peace, stability and prosperity in the region and the world, as well as its Belt and Road Initiative. 

Vietnam backs the Mekong-Lancang cooperation in combination with the framework of the Greater Mekong Sub-region collaboration, for effective use and management of water resources and sustainable development of countries, he noted.

PM Phuc expressed his belief that the CIIE 2018 will open up new cooperation channels for goods distribution, helping promote official trade activities and brand building so that more and more Vietnamese commodities can be consumed in the Chinese market. 

He suggested the Chinese side make it easy for Vietnamese goods to enter its market, and devise practical policies and measures to reduce Vietnam’s big trade deficit, towards promoting stable and sustainable growth of bilateral trade. 

Vietnam always welcomes Chinese firms to invest in the country, he affirmed. 

Regarding the sea-related issue, the Vietnamese Government leader applauded positive results of negotiation and cooperation mechanisms in less sensitive areas at sea between the two countries, as well as initial progresses in pragmatic negotiation for the Code of Conduct in the East Sea (COC) between ASEAN and China recently. 

He suggested the two sides respect legitimate interests of each other, seriously realise the common perception of the two countries' high-ranking leaders and the agreement on the basic principles guiding the settlement of sea-related issues between Vietnam and China, and patiently solve disputes by peaceful measures in line with international law and the 1982 UN Convention on the Law of the Sea (UNCLOS), in order to maintain peace and stability in the East Sea and the region.

For his part, Chinese Party General Secretary and President Xi Jinping affirmed that PM Phuc’s participation in the expo reflects the Vietnamese Government’s respect for the bilateral relations.

He stressed that the Chinese Party and State always treasure ties with Vietnam, and agree to maintain high-level contacts to bolster political understanding and foster all-round cooperation in a practical manner with the Southeast Asian country.

He added that both sides will work together to enhance people-to-people exchanges and consolidate traditional friendship while maintaining peace and sustainability at sea and creating favourable conditions for the bilateral ties to thrive.

Regarding economic-trade collaboration, Xi stated that China will import more goods from Vietnam to sustainably balance trade with the neighbouring country. 

In the past time, China has carry out various measures to increase imports from Vietnam. In 2017, Vietnam’s shipments to China rose 36.8 percent and China will continue to promote the trend in the coming time.

Vietnam rolls out red carpet for Chinese investors

The Vietnamese Government always welcomes Chinese firms to land investments in the country, Prime Minister Nguyen Xuan Phuc has affirmed.

Prime Minister Nguyen Xuan Phuc shakes hands with leaders of major Chinese groups at a meeting on November 4

He made the statement while hosting a reception for leaders of major Chinese groups operating in finance, construction and infrastructure development on November 4 as part of his visit to China to attend the first International Import Expo of China (CIIE 2018) on November 4-5.

PM Phuc spoke highly of the Chinese corporations’ business achievements in China and many foreign countries.

The Chinese businessmen lauded Vietnam’s socio-economic development while affirming that they will continue investment and business expansion in finance, insurance, banking, energy and transport infrastructure in Vietnam. 

They expressed their hope that the Vietnamese Government and relevant authorities will create favourable conditions for them to participate in large projects in the country.

Vice Chairman of Ping An Trust Song Chengli said that his corporation holds strengths in finance, insurance, banking and investment with total asset of 6 trillion yuan (870 billion USD).

The group is in the world’s top 500 enterprises and ranks 7th among the global leading financial giants, he said, adding that he is interested in Vietnam’s mechanisms in protecting foreign financial firms who join Vietnamese market, especially those investing in local credit organisations.

Chairman of China Greenland Zhang Yuliang expressed his pleasure to meet PM Phuc in Shanghai, saying that his firm has cooperated with many great groups in the world and it has a total asset worth 150 billion USD. 

He said that Vietnam is a potential market with great cooperation opportunities, especially in agriculture, adding Vietnamese farm produce and food are also positively welcomed in the Chinese market. 

For his part, PM Phuc spoke highly of these groups’ plans to invest and expand investment in Vietnam.

He applauded the fields that Chinese firms want to pour cash into Vietnam, including agriculture, food production, finance and transport infrastructure development. 

The PM asked representatives from Vietnamese ministries and sectors to collect opinions and proposals from Chinese firms and then arranging working sessions to discuss how to realise their business ideas.

With its current development pace, from now to 2020, Vietnam needs 25 billion USD per year for infrastructure development, PM Phuc said, noting that this is a promising land for international investors, including China, to cultivate, as it is one of Vietnam’s priorities in the country’s socio-economic development.

He expressed his hope that Chinese firms will further promote imports of Vietnamese agro-forestry-fishery products in the coming time.

PM talks with leading Chinese groups

Prime Minister Nguyen Xuan Phuc speaks at the talk 

Prime Minister Nguyen Xuan Phuc on November 4 hosted a talk with representatives of a number of leading Chinese groups operating in the fields of agriculture, finance, banking, construction, transport, energy and distribution. 

The event is part of the leader’s trip to China to attend the first International Import Expo of China (CIIE 2018) on November 4-5. 

Speaking at the talk, PM Phuc said the Vietnam-China fruitful relationship has created a foundation for their economic and trade ties. 

He cited China’s statistics revealing that two-way trade exceeded 120 billion USD in 2017, even higher than the accumulated trade turnover between China and many European countries. 

Vietnam has also maintained its position as China’s largest partner in the Association of Southeast Asian Nations (ASEAN), he noted. 

The PM used the occasion to brief the Chinese businesses on Vietnam’s political and socio-economic situation over the past years, saying each year Vietnam needs 25 billion USD for infrastructure building and 138 billion USD for electricity development.

The capital will be mobilised from different resources, including the private sector, he added. 

Laying stress on the agricultural sector with 20 exports earning more than 1 billion USD each, PM Phuc said that Vietnam is the 15th largest agricultural exporter in the world and the second in ASEAN.

Besides rice, pepper, coffee, cashew, basa fish and shrimp which have been popular around the world, Vietnam has dragon fruit, mango, longan, lychee, pomelo and watermelon cultivated in line with the clean, smart agriculture practices, and qualified to enter choosy markets like the US, the EU, Japan, the Republic of Korea and Australia, he added.

PM Phuc said that although China is the largest buyer of Vietnamese farm produce, most of the products are consumed in the country’s southern localities and they have not entered deeply in this market yet.

The PM hoped businesses will contribute opinions and recommendations for Vietnam’s development, thus promoting the potential and strength of each country. 

He called on Chinese enterprises to import Vietnam’s agricultural products, towards balancing trade between the two countries. 

While appreciating the Vietnamese market’s potential, Chinese enterprises showed their desire to continue investing and expanding their investment in Vietnam. 

They hailed efforts made by the Vietnamese Government in improving its investment environment, saying that they are willing to help Vietnamese goods gain greater presence in the Chinese market. 

Chinese firms informed that they will enhance investment in many fields in Vietnam such as clean agriculture and food production, adding that apart from transferring technology, the two sides can consider cooperation in infrastructure development in Vietnam as the Southeast Asian nation has huge potential for collaboration in building industrial parks and seaports through the forms of Build – Operate – Transfer (BOT) and Engineering Procurement and Construction(EPC).

VNA