Hanoi and Beijing will share a mutual benefit from the preservation of peace and stability, for the sake of cooperation and national development, Vietnamese Prime Minister Nguyen Xuan Phuc has said.

PM Phuc sat down for a conversation with Chinese Party General Secretary and President Xi Jinping in Beijing on Tuesday, as part of his ongoing official visit to Vietnam’s northern neighbourscheduled for September 10-15.

Vietnam and China are embarking on an important phase of cooperation and development, the Vietnamese leader said during the meeting, stressing that maintaining a peaceful and stable environment would benefit both countries.

With regard to the situation in the East Vietnam Sea, he asked both sides to amicably manage disputes in the maritime area, comply with agreements and common perceptions of their high-level leaders, and effectively implement the Declaration on the Conduct of Parties in the East Vietnam Sea (DOC).

The establishment of a Code of Conduct (COC) for the seaway is also expected to help stabilize the situation and contribute to peace, cooperation and development in the region, Phuc continued.

Vietnam will focus on the enhancement of its economic cooperation with China, the premier said, adding that Chinese investors are always welcome in the Southeast Asian country.

Replying to his guest, President Xi affirmed that the Chinese government and people consider the relationship with Vietnam of great importance.

Beijing is willing to join hands with Hanoi to grasp the developmental trend of the two countries' bilateral ties, maintain visits and high-level meetings, and step up pragmatic cooperation in all fields as well as people-to-people exchanges. 

Both sides should ramp up their collaboration in the development strategy within the frameworks of the ‘One Belt, One Road’ and ‘Two Corridors, One Economic Belt,’ the Chinese leader said.

China will encourage its businesses to invest in Vietnam, and will actively partner with the country in addressing existing problems in the two nations’ economic and trade cooperation. 

PM Phuc also met with leaders of major Chinese enterprises, including Ma Jiangqian, General Director of the China Railway Sixth Group Co. Ltd, on the same day.

The Vietnamese head of government is scheduled to leave Beijing for Hong Kong on Wednesday morning, where he will convene meetings with local leaders and business.