Vietnam welcomes China hi-tech investment: President

Chinese businesses are encouraged to invest in projects using high technology in Vietnam, President Tran Dai Quang said at an economic-trade cooperation seminar on Saturday.

The seminar was held in Fuzhou City of Fujian Province, attracting representatives of nearly 300 businesses from Vietnam and China.

President Quang, who is on a state visit to China, stressed that with total registered investment capital of over US$11.2 billion, China is one of the 10 biggest foreign investors in Vietnam It remains the biggest trade partner of Vietnam for more than 10 years with bilateral trade approximating US$72 billion in 2016.

Thanks to favourable sea, road and air connections, Vietnam is a gateway for China’s products to enter ASEAN markets and is China’s largest trade partner in the 10-nation ASEAN bloc.

He added that aside from a number of famous destinations like Ha Long Bay, Da Nang City and Nha Trang City, the continuous opening of air routes will help attract more and more Chinese tourists to Vietnam.

Targeting a green economy, sustainable development and average GDP growth of 6.5-7 per cent by 2020, Vietnam treasures all resources, of which private businesses and foreign investment are important driving forces for economic growth. It is also working to improve the investment environment and national competitiveness to attract more domestic and foreign resources, Quang noted.

The Vietnamese leader asked Vietnamese and Chinese firms to continue initiating innovative ideas in order to create a new momentum for bilateral economic partnership.

He suggested Chinese companies invest in infrastructure, logistics, electronics and support industries while protecting the environment and engaging in social activities in Vietnam.

President Quang asked the two sides to facilitate their strong products’ access to each other’s markets.
Fujian Governor Yu Weiguo highlighted the close relationship between Fujian and the Vietnamese people and the two sides’ economic links.

Trade between Fujian and Vietnam reached US$3.4 billion in 2016, up 13.8 per cent year on year, and US$820 million in the first quarter of 2017. In the last three months, 35 businesses from Fujian invested US$270 million in Vietnam. Yu emphasised that economic, trade and investment relations with Vietnam are one of the driving forces of the province’s development.

Flight route proposed

During his stay in Fujian, the president met with several provincial officials, including You Quan, Secretary of the provincial Party Committee and Chairman of the Fujian People’s Congress Standing Committee, and Yu Weiguo, Governor of Fujian.

At the meetings, President Quang expressed his delight to visit Fujian, which is rich in historical traditions and a pioneer in China’s reform and door opening process. Hailing past outcomes of exchanges and co-operation between Vietnam and Fujian, the president stressed that there is substantial potential for the two sides to expand their collaboration.

The leader expressed his wish that Fujian will step up mutually beneficial co-operation with Vietnamese localities and share experience in socio-economic development, poverty reduction and administrative reform while promoting economic, trade and investment ties with Vietnam.

He also suggested the Chinese province increase imports of Vietnam’s agricultural, forestry and fishery products, and encourage local businesses to invest in such areas as infrastructure, high-tech agriculture and clean energy in Vietnam.

The president called on Fujian to diversify people-to-people exchanges with Vietnamese localities and support collaboration between Vietnamese and Chinese universities through the exchange of students and scientific research.

At the same time, the two sides should step up cultural and trade promotion and accelerate the opening of their direct air route, first establishing a flight between Fujian’s Xiamen city and Vietnam’s Ho Chi Minh City, he said.

For his part, You Quan affirmed that the provincial Party Committee and authorities always attach importance to co-operation and friendship with Vietnam and wish to work with Vietnamese localities to materialise common perceptions reached by the two countries’ high-ranking leaders and boost collaboration in a more efficient and pragmatic fashion, thus contributing to enhancing the comprehensive strategic partnership between Vietnam and China.

Following the meeting, President Quang and local leaders signed an agreement on the establishment of friendly co-operation between Vietnam’s northern province of Quang Ninh and Fujian.

Earlier the same day, the president visited the Fuzhou Administrative Service Centre, a model of one-stop-shop administrative services.

On this occasion, President Quang and his spouse also visited the ancient quarter of Sanfang Qi Xiang, a famous destination in Fuzhou. Quang Ninh has opened a pavilion introducing its tourism at the site.