PM talks with leading Chinese groups
Updated : Monday, November 05, 2018 11:06 AM (GMT+0700)

PrimeMinister Nguyen Xuan Phuc on November 4 hosted a talk with representatives of anumber of leading Chinese groups operating in the fields of agriculture,finance, banking, construction, transport, energy and distribution. 

Prime Minister Nguyen Xuan Phuc speaks at the talk - Source: VNA

The event is part of theleader’s trip to China to attend the first International Import Expo of China(CIIE 2018) on November 4-5. 

Speaking at the talk, PM Phucsaid the Vietnam-China fruitful relationship has created a foundation for theireconomic and trade ties. 

He cited China’s statisticsrevealing that two-way trade exceeded 120 billion USD in 2017, even higher thanthe accumulated trade turnover between China and many European countries. 

Vietnam has also maintainedits position as China’s largest partner in the Association of Southeast AsianNations (ASEAN), he noted. 

The PM used the occasion tobrief the Chinese businesses on Vietnam’s political and socio-economicsituation over the past years, saying each year Vietnam needs 25 billion USDfor infrastructure building and 138 billion USD for electricity development.

The capital will be mobilisedfrom different resources, including the private sector, he added. 

Laying stress on theagricultural sector with 20 exports earning more than 1 billion USD each, PMPhuc said that Vietnam is the 15th largest agricultural exporter in the worldand the second in ASEAN.

Besides rice, pepper, coffee,cashew, basa fish and shrimp which have been popular around the world, Vietnamhas dragon fruit, mango, longan, lychee, pomelo and watermelon cultivated inline with the clean, smart agriculture practices, and qualified to enter choosymarkets like the US, the EU, Japan, the Republic of Korea and Australia, headded.PM Phuc said that although China is the largest buyer of Vietnamese farmproduce, most of the products are consumed in the country’s southern localitiesand they have not entered deeply in this market yet.

The PM hoped businesses willcontribute opinions and recommendations for Vietnam’s development, thuspromoting the potential and strength of each country. 

He called on Chineseenterprises to import Vietnam’s agricultural products, towards balancing tradebetween the two countries. 

While appreciating theVietnamese market’s potential, Chinese enterprises showed their desire tocontinue investing and expanding their investment in Vietnam. 

They hailed efforts made bythe Vietnamese Government in improving its investment environment, saying thatthey are willing to help Vietnamese goods gain greater presence in the Chinesemarket. 

Chinese firms informed thatthey will enhance investment in many fields in Vietnam such as cleanagriculture and food production, adding that apart from transferringtechnology, the two sides can consider cooperation in infrastructuredevelopment in Vietnam as the Southeast Asian nation has huge potential forcollaboration in building industrial parks and seaports through the forms ofBuild – Operate – Transfer (BOT) and Engineering Procurement andConstruction(EPC).


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