Permanent Deputy Prime Minister Nguyen Hoa Binh made five suggestions for further promoting Vietnam-China cooperation while attending the ninth annual Belt and Road Initiative (BRI) Summit in Hong Kong on September 11-12.

Binh participated in the summit at the invitation of Chief Executive of the Hong Kong Special Administrative Region (HKSAR) John Lee Ka-chiu.

Themed 'Building a Connected, Innovative, and Green Belt and Road,' the two-day summit kicked off on Wednesday, drawing nearly 6,000 delegates from governments, corporations, and enterprises from 70 countries and economies.

The event centered on exchanging ideas and proposals to enhance trade and investment between nations, promote green and inclusive growth, improve transport infrastructure and logistics connectivity, strengthen cooperation in finance and trade services, advance science, technology, and innovation, and encourage people-to-people exchanges.

As a special guest, Permanent Deputy PM Binh delivered an important keynote speech at the opening session on Wednesday, during which he shared his appreciation for the Belt and Road Initiative’s contributions to promoting global economic connectivity as well as South-South cooperation.

He underscored the importance of equal, open, and mutually beneficial cooperation in accordance with international law in implementing cooperation initiatives and regional and global economic connectivity for the sake of peace, prosperity, sustainability, and inclusive development.

Vietnam is an open economy which upholds the principles of multilateralism, respects international law, and supports economic cooperation and linkage initiatives, including the BRI, Binh stated.

Top leaders from Vietnam and China agreed to promote connections between the two countries' development strategies, implementing the cooperation plan connecting the ‘Two Corridors, One Belt’ framework with the BRI.

He also put forth five proposals outlining priority areas for HKSAR to implement, contributing to the agreements made between Vietnam and China's top leaders. These measures aim to further strengthen the comprehensive strategic partnership established between the two nations in 2008.

The first is to further promote financial cooperation, share experience in banking digitalization, build and develop regional and global financial centers, and develop a voluntary carbon credit trading market.

Second, Hong Kong should further facilitate trade and the circulation of goods, as well as expand regional economic corridors.

Third, it is necessary to promote high-quality investment and expand investment to new technology fields such as biotechnology, artificial intelligence, semiconductors, renewable energy, and smart cities.

Fourth, HKSAR should prioritize enhancing infrastructure connectivity, particularly by developing and linking border gate and railway infrastructure between Vietnam and China.

Finally, Hong Kong should work to strengthen city-to-city ties and promote people-to-people exchanges between the two countries, Binh concluded.

He also called on business communities in HKSAR and China in general to continue accompanying Vietnam on its path toward development, affirming that the Vietnamese government will continue to support foreign enterprises, including those from Hong Kong and China. 

Following the summit, Binh held a meeting with Lee, who extended his condolences over the huge losses of people and property in many northern localities in Vietnam due to the impact of super typhoon Yagi.

Lee pledged to promote development between Hong Kong and Vietnam, contributing to fostering and deepening the comprehensive strategic partnership.

Binh told Lee that Vietnam welcomes Hong Kong enterprises to participate in large-scale transport infrastructure projects and expand investment in areas that are in line with Vietnam's sustainable development strategy.

He also suggested Hong Kong increase its imports of Vietnamese goods, cooperate in building up an international financial center in Ho Chi Minh City, support Vietnamese living in Hong Kong, continue simplifying visa procedures for Vietnamese citizens to Hong Kong, and expand bilateral cooperation in culture, tourism, and aviation.

Lee affirmed that authorities and businesses in HKSAR have strong confidence in the growth potential and prospects of Hong Kong-Vietnam relations.

He also pledged Hong Kong's support for Vietnam in successfully hosting the APEC Year 2027.

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