HANOI: The green and digital economies can play an important role in the investment and trade cooperation between Vietnam and China, Prime Minister Pham Minh Chính has said during a meeting with a high-ranking delegation from large Chinese corporations.
China remains Vietnam’s largest importer of a wide range of products and services while Vietnam is China’s largest trading partner in South-East Asia with bilateral trade reaching US$172bil last year.
China also ranks as the sixth largest investor in Vietnam with 4,418 projects for a total registered capital of US$27.6bil.
As the two countries have been supporters of green, digital, circular and sharing economies, participants at the meeting said Vietnam-China cooperation contributes to the common awareness by both ruling parties, as well as a community with a shared future.
Leaders from Vietnamese ministries, sectors and their Chinese counterparts exchanged ideas and agreed to greater cooperation in building stronger economic, commercial and investment ties, especially in developing green and digital economies.
Chinese energy companies have been showing great interest in participating in energy and energy storage projects in Vietnam.
They have asked for the issuance of implementation guidance from the Vietnamese government, shorter and simpler bidding procedures in waste-to-energy projects and solutions to optimise the integration of renewable energy projects and other industries.
Chinese silicon companies and manufacturers of solar energy products suggested the government provide solutions to improve infrastructure and services such as electricity, telecommunications and skilled workers to attract additional investment.
Chinese electric vehicle (EV) manufacturers like Chery and Yadea desire to invest in developing the EV industry in Vietnam, a major part of the country’s carbon-neutral objective. They expressed hope that Vietnam may implement policies to encourage consumers such as tax exemptions and subsidies for EVs.
ZTE and Huawei said they hope to take part in the development of 5G industrial applications, asking for the Vietnamese government’s support in building applications for 5G and establishing 5G application standards in various industries.
Chính addressed the issues raised by Chinese businesses and reaffirmed Vietnam’s commitment to agreements formalised during an earlier meeting between Vietnamese Party General Secretary Nguyen Phu Trong and Chinese Party chief and president Xi Jinping to build a future-sharing community that benefits both countries.
Chính said the Vietnamese government is willing to listen and help resolve all issues faced by foreign investors, including Chinese investors. He said the open exchange of opinions and dialogues between two countries reflects the commitment to cooperate in a spirit of “harmonised interests, shared risks”.
He ordered Vietnamese ministries and governmental agencies to take note of the Chinese issues and take a proactive approach to help them address issues in a timely manner.
Meanwhile, he added that Vietnam maintained its open door policy in attracting foreign investment, especially high-quality projects with numerous economic and industrial zones set up to strengthen the links among foreign direct investment businesses and domestic businesses, as well as to promote public-private partnerships. —Viet Nam News/ANN