Vietnamese President Tran Dai Quang with his wife and high-ranking Vietnamese delegation continued his State-level visit to China by visiting Fuzhou city of Fujian province and delivering a keynote speech at the business seminar.
The seminar was co-held by the Vietnamese Ministry of Planning and Investment and Fujian province, drawing representatives of some 300 Vietnamese and Chinese businesses.
President Tran Dai Quang addressing the seminar
In his remarks, President Quang said, he was impressed by fast growth and large achievements of the Chinese province in socio-economic development in recent years, which has made Fujian become a leading Chinese locality in terms of infrastructure, high technology, manufacturing and seaport logistics.
President Quang also informed the delegates at the seminar of the results of talks between the Vietnamese President and Chinese Party General Secretary Xi Jinping as well as between the Vietnamese President and other Chinese leaders, saying that the two sides shared the same perception on friendly neighborly relations and comprehensive cooperation between the two countries; agreed to focus cooperation on economy, trade, investment and tourism, and deepened the Vietnam-China comprehensive strategic partnership for mutual benefits of the two nations and in contribution to promoting peace, stability, cooperation and development in the region and world.
President Quang revealed that China, with its total registered investment capital of over US$ 11.2 billion, is one of the 10 biggest foreign investors in Vietnam. It has maintained the biggest trade partner of Vietnam for more than 10 years with bilateral trade some US$ 72 billion in 2016.
With its geological advantages, particularly convenient sea, road and air transportation routes, Vietnam can serve as a bridge for Chinese products to enter other ASEAN markets, the Vietnamese President considered.
Highlighting Vietnamese landmarks, such as Ha Long Bay, Da Nang city and Nha Trang city, and the convenience of road and air routes, he suggested that Vietnam be an attractive tourist destination and an ideal place for Chinese to visit and spend their vacation with great satisfaction.
Regarding the situation of Vietnam, President Quang said that after more than three decades of reform (Doi Moi), Vietnam has reached great achievements in various areas while its status and position has continuously been growing in the international arena. Vietnam has become a middle-income country with an average per head income of US$ 2,200, and is now enhancing industrialization, modernization and international integration. Vietnam is an open economy with its GDP of US$ 220 billion and its trade value 1.6 times larger than the economy. Vietnam has been a member of WTO since 2006 and enjoyed 10 new-generation free trade agreements with different partners around the world.
President Tran Dai Quang at the seminar
President Quang stressed that Vietnam is targeting a green economy, sustainable development and annual average GDP growth rate of 6.5-7 percent toward 2020 so Vietnam appreciates all resources, of which private enterprises and foreign investment are considered important drivers for economic growth. The country is now vigorously reforming institutions and improving the investment environment, market gravity and national competitiveness to attract more domestic and foreign resources, he underlined.
Vietnam, with its consistent policy to be friends with all countries, is accelerating international integration and cooperation on the basis of equality, respect for sovereignty and interests of each country. In its foreign policy, Vietnam prioritizes friendly relations and cooperation on economy, trade and investment with China. Basing on the fruitful results in the past time, Vietnam wishes that Vietnam and China actively work together to craft a long-run strategic vision, orientations, plans, approaches and concrete cooperation areas with a focus on strengths of each country, especially when protectionism is in sign of re-emergence in the world.
The Vietnamese President asked Vietnamese and Chinese enterprises to continuously initiate innovative ideas so as to create a fresh momentum for bilateral cooperation between the two countries, especially in trade and investment.
In terms of investment, President Quang suggested Chinese companies invest in hi-tech projects, infrastructure building, logistics, electronics and support industries while protecting the environment and actively engaging in social activities in Vietnam.
In terms of trade, Vietnam and China benefit from the ASEAN-China Free Trade Agreement that already came into effect; both markets have niches needing the other’s products and services; and the two neighboring countries enjoy favorable transport connectivity. In this circumstance, the two countries are targeting a two-way trade value of US$ 100 billion with a better trade balance in the near future. Vietnam wishes Chinese partners to import more Vietnamese agricultural produce, processed aquatic products, electronics and consumer goods; in return, it welcomes Chinese hi-tech products, material inputs, agricultural produce and consumer goods.
President Quang affirmed that Vietnam is ready to create favorable conditions for Chinese investors in general and businesses from Fujian province in particular to invest and do business in the country.
The remarks of the Vietnamese President was strongly supported and applauded by local officials and businesses.
Businesses of the two countries at the seminar also took this chance to exchange information, share experiences in investment and business, and seek partnership and cooperation.
Reported by Van Yen from Fujian province, China
Translated by Thu Nguyen