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Vietnam calls on Chinese firms to invest in green, digital economies: PM

Vietnam calls on Chinese firms to invest in green, digital economies: PM

Thursday, May 16, 2024, 13:54 GMT+7
Vietnam calls on Chinese firms to invest in green, digital economies: PM
Vietnamese Prime Minister Pham Minh Chinh speaks at a meeting with representatives from Chinese businesses specializing in the green and digital economies in Hanoi on May 14, 2024. Photo: Vietnam Government Portal

Vietnam is welcoming investment by Chinese enterprises in the green and digital economies, both of which fall under the country’s sustainable development model for economic growth, Vietnamese Prime Minister Pham Minh Chinh said during a meeting with Chinese corporations.

PM Chinh chaired a meeting with representatives from several Chinese corporations involved in the green and digital sectors in Hanoi on Tuesday.

He said that the meeting was a demonstration of the importance that the Vietnamese government attaches to supporting Chinese businesses in Vietnam.  

He also encouraged Chinese investors to propose programs and projects related to green growth and digital transformation in Vietnam while affirming Vietnam’s support for the promotion of sustainable development models, especially those related to green, digital, knowledge-based, circular, and sharing economies.

PM Chinh also suggested that Chinese businesses expand their investments in sectors where they are uniquely strong.

Addressing Vietnamese ministries and agencies present at the meeting, PM Chinh asked them to listen to opinions from Chinese enterprises and expedite solutions to problems related to their operations in Vietnam. 

Chinh also spoke on Vietnam’s current socio-economic situation and discussed the country’s dedication to the continued implementation of solutions to its investment environment and the competitiveness of its economy. 

Vietnam is currently emphasizing green growth, digital transformation, clean and renewable energy, smart cities, high-quality manufacturing, road and rail infrastructure, healthcare, and education as key priorities.

During the meeting, the Chinese business representatives engaged in discussions and proposed ideas, initiatives, and solutions aimed at enhancing collaboration across these various sectors. 

Chinese businesses currently see Vietnam as hosting a positive investment environment that is continuously improving thanks to its well-planned development orientations and strategies, especially those regarding the digital economy, green economy, and other emerging fields.

Following the motto of ‘harmonious benefits, shared risks,’ PM Chinh said the Vietnamese government is committed to the principles of ‘three togethers’ and ‘three assurances’ in its cooperation with foreign investors, including those from China.

The ‘three togethers’ include listening and understanding together, sharing visions and actions together, and working and celebrating together. 

The ‘three assurances’ include ensuring foreign direct investment (FDI) as an important component of the Vietnamese economy, ensuring the legitimate rights and interests of investors, and ensuring political stability and social order and safety to facilitate investors’ operations.

Chinese Ambassador to Vietnam Xiong Bo emphasized that the Chinese government has been encouraging China’s leading businesses to promote cooperation with Vietnamese partners in the same fields mentioned by PM Chinh.

As per the Vietnamese Ministry of Planning and Investment, bilateral trade between Vietnam and China has surged fourfold over the last decade, reaching nearly US$172 billion.

This milestone solidifies China's position as Vietnam's primary trading partner, and reciprocally, Vietnam emerges as China's foremost trade partner within the Association of Southeast Asian Nations.

China’s investment in Vietnam also soared more than 70-fold during the same period, placing China sixth among the 146 countries and territories investing in Vietnam, with 4,418 projects worth more than $27.6 billion as of March.

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Vinh Tho - Ngoc An / Tuoi Tre News

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