PM pledges favourable conditions for Chinese investors

Vietnam creates favourable conditions for Chinese investors, PM Nguyen Xuan Phuc told Chinese businesses in Hanoi n June 12

At a reception in Hanoi on June 12, PM Phuc appreciated China's large enterprises that have seriously invested in Vietnam, while paying attention to environmental protection and caring for employees’ lives.

He told the Chinese businesses that the novel coronavirus epidemic has taken its toll on the world economy and Vietnam is no exception. However, with its swift actions and drastic measures in place, Vietnam has brought the epidemic under control and gradually got the economy back on track.

Amid the impact of the epidemic, he said, the government, ministries and localities of Vietnam have regularly met with businesses to listen to them and remove their hurdles.

He said he had held phone talks with Chinese Premier Li Keqiang, discussing solutions for bilateral cooperation and sharing experience in COVID-19 prevention and control, while providing China with medical equipment to combat the disease.

Noting that Vietnam and China have treasured a fine traditional friendship and neighbourly relationship, the PM expressed his hope that present-day generations will have the responsibility to nurture this relationship, contributing to the development of each country.

Chinese businesses congratulated Vietnam on its initial success in controlling the epidemic, paving the way for businesses to resume operation in the new normal situation. They proposed that the Vietnamese government create conditions for Chinese managers and experts to soon return and run their projects in Vietnam.

They expressed strong beliefs in the Government’ determination to realize the dual goals of epidemic prevention and economic recovery, as well as to seize opportunities from the EU-Vietnam Free Trade Agreement (EVFTA), the EU-Vietnam Investment Protection Agreement (EVIPA), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Welcoming Chinese businesses’ desires to expand their investment in Vietnam, PM Nguyen Xuan Phuc said that China is currently the largest import market and the second largest export market of Vietnam.

Vietnam is China's largest trading partner in ASEAN with two-way trade last year reaching US$120 billion, of which Vietnam had a trade deficit of over US$30 billion. Chinese businesses have so far invested nearly US$21 billion in Vietnam, accounting for 5.5% of the total amount of foreign investment in the country.

With the coronavirus epidemic brought under control, Vietnam is considering reopening commercial flights to China, first and foremost to Guangzhou, to promote trade exchanges between the two countries, he told Chinese businesses.

He acknowledged Chinese businesses’ proposals and affirmed Vietnam opens the door for foreign experts, business managers and highly skilled workers, including those from China.