GREEN ECONOMY, DIGITAL ECONOMY BREAKTHROUGH OF VIETNAM-CHINA TIES: PM

Prime Minister Pham Minh Chinh on May 14 expressed his belief that economic-investment-trade cooperation, especially in green economy and digital economy, will be a driver and a breakthrough of the Vietnam-China relationship.

Addressing a Hanoi seminar with 19 Chinese groups operating in green economy and digital economy, the leader said the meeting, the first of its kind, aims to materialise high-level perceptions reached by Party General Secretary Nguyen Phu Trong and Party General Secretary and President of China Xi Jinping, who agreed to build the Vietnam-China community with a shared future.

It also demonstrates the importance the Vietnamese Government attaches to Chinese businesses and its support to foreign investors, including those from China, he added.

Chinh briefed the participants on Vietnam’s socio-economic situation and investment environment, and its foreign investment attraction orientations, saying the country expects to lure quality investments from China.

The Vietnamese Government always encourages Chinese enterprises to expand their investment in the areas where they have strengths and Vietnam has demand.

The PM suggested them transfer technologies to Vietnam, help the country improve personnel quality, raise administration capacity and devise institutions, and assist their Vietnamese counterparts to join regional and global value and supply chains, particularly in the fields where Vietnam has potential.

Chinese enterprises should sketch out specific projects within the framework of the existing bilateral cooperation mechanisms and multilateral ones to which both nations are members, he said, calling for their technical support in the construction of railways and cross-border roads.

Chinh also stressed the need to speed up the building and upgrade of some pairs of border gates as already agreed upon, for a common borderline of peace, friendship, cooperation and development.

He suggested Chinese businesses back the removal of non-tariff barriers to Vietnamese goods, and the expansion of the importation of Vietnamese goods, and encouraged them to propose programmes and projects within Vietnam’s national strategies on green growth and digital transformation.

The leader noted his support for the roll-out of sustainable business models, especially those in green economy, digital economy, knowledge-based economy, circular economy and sharing economy.

Chinh asked Vietnamese ministries and agencies to quickly clear up concern raised by Chinese enterprises, suggesting the establishment of a working group to handle relevant issues.

Participants shared the view that the Vietnam-China relationship is growing more intensively, practically and comprehensively, with two-way trade reaching nearly 172 billion USD last year.

China ranks sixth among the 146 countries and territories investing in Vietnam, with 4,418 valid projects worth more than 27.6 billion USD as of March 2024.

Source: VIR