PM receives leaders of Chinese firms operating in Vietnam

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Prime Minister Nguyen Xuan Phuc (front, centre) and leaders of some Chinese businesses at their meeting on June 12 (Photo: VNA)

Prime Minister Nguyen Xuan Phuc hosted a reception in Hanoi on June 12 for leaders of Chinese businesses which are investing in the fields of garment and textile, high-quality fibre, engine components and automobile tyres in Vietnam.

PM Phuc said amid the impacts of the COVID-19 pandemic on many firms, including foreign-invested companies, the Prime Minister, and leaders of ministries and localities have often met with enterprises and business associations to remove their difficulties.

Regarding Vietnam’s success in the fight against the pandemic, he said the country has taken timely and drastic reactions to put the disease under control, thus bringing the life, production and business activities back to normal.

PM Phuc said he had early held phone talks with his Chinese counterpart Li Keqiang to discuss ways to step up cooperation and share experiences in combating COVID-19, adding that Vietnam had also donated medical supplies to China.

At the meeting, representatives of Chinese firms expressed their belief in the determination of the Vietnamese government and local administrations in implementing the dual goal of boosting socio-economic development and containing the pandemic as well as opportunities offered by 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 the businesses’ intention to expand investment, PM Phuc said China is currently Vietnam's largest importer and second biggest exporter. In return, Vietnam is the top ASEAN trade partner of China, with bilateral trade reaching 120 billion USD last year.

China has invested in nearly 3,000 projects worth nearly 21 billion USD in Vietnam so far, and this amount of capital is equivalent to 5.5 percent of the total foreign investment registered in the country. As a result, China now ranks seventh among 136 countries and territories investing in Vietnam.

A number of Chinese enterprises are operating profitably in various sectors in Vietnam, the PM said, noting that the two countries have also been cooperating well in tourism.

As both countries have managed to bring the COVID-19 pandemic under control, Vietnam is considering the reopening of some commercial air routes with China, firstly Guangzhou, to promote trade and travel, he said.

Listening to the firms’ opinions, PM Phuc said the Vietnamese Government will continue facilitating the entry to and exit from the country for foreign experts, business managers, investors and skilled workers, including those from China.

At the meeting, the PM also highly valued major Chinese investors’ capability, serious attitude and investment effectiveness, including in expanding production and business activities, complying with environmental protection regulations, caring for their employees, and boosting exports, which have generated benefits for themselves and Vietnam.

He particularly applauded many businesses’ decision not to lay off workers despite difficulties caused by the COVID-19 pandemic, noting that their examples should be popularised for other firms to follow.

The Vietnamese Government will order ministries and sectors to deal with problems facing Chinese enterprises, including resuming flights and facilitating logistics services, the PM said, adding that it will ensure macro-economic stability and create more optimal conditions for businesses.