PM Phuc pledges best possible conditions for leading Chinese businesses

PM Phuc receives leading Chinese businesses.

During the meeting in Beijing on April 25, Chinese enterprises applauded Vietnam’s socio-economic development, especially in infrastructure, energy, finance, technology and telecommunications.

Prime Minister Phuc said Vietnam has great demand for developing its infrastructure, energy, technology, finance and banking.

“The scale of the Vietnamese economy remains small and faces numerous difficulties. We need more resources from the private sector, as well as Vietnamese and foreign enterprises to cooperate in the public-private mode and other investment forms as well as projects under the frameworks of “Two corridors, one belt” and “Belt and Road”.

The mechanisms create opportunities for Chinese enterprises to invest in Vietnam. The Vietnamese government always creates favorable conditions for foreign enterprises including those from China and those with financial and technological potential. Vietnam needs more resources to develop its infrastructure including roads, railways, and airways.” The government leader said.

PM Phuc also called for further investment in clean energy under Public-Private Partnership.

He also praised the growing bilateral cooperative ties over the past time and emphasized that China has remained Vietnam’s largest trade partner while Vietnam is China’s biggest trade partner in Southeast Asia.

Both nations boast great potential for stronger trade links and Vietnam has become an attractive destination for global investors, drawing 28,000 projects worth more than US$ 350 billion from 130 countries and territories across the globe, PM Phuc said.

The cabinet leaderr voiced his hope that Chinese technology and telecoms companies will boost their production in Vietnam instead of only supplying equipment, components and spare parts.

He also showed his support for further cooperation between the China Development Bank and Vietnam’s aviation firms to increase flights as well as the quality of direct air services between the two nations.

At the meetings, Chinese business representatives expressed their impression on the robust socio-economic development of Vietnam in recent years, saying that this is a golden opportunity for foreign investors, including those from China, to intensify investment in infrastructure, energy, telecommunications and finance and banking in the country.

They showed their confidence that Vietnam, with the strongest economic growth in the region, will become an attractive destination for Chinese businesses, who wish to invest in energy infrastructure development, wind power, solar power, smart healthcare and smart agriculture in Vietnam.

Meanwhile, telecommunications businesses hailed the Vietnamese Government’s policy aimed at promoting the digital economy, the fourth industrial revolution, and 5G technology in socio-economic development, and said that they desire to make joint efforts in carrying out the policy.

PM Nguyen Xuan Phuc is in Beijing to attend the second Belt and Road Forum for International Cooperation (BRF) from April 25-27.