China's coastal city of Shenzhen is willing to partner with Hanoi to promote decentralized relations in trade, investment, economic activities, 5G technology, new energy vehicles, and renewable energy, said Qin Weizhong, mayor of Shenzhen.

Nguyen Manh Quyen, Vice Chairman of the Hanoi People's Committee (right), meets with Shenzhen Mayor Qin Weizhong this week. Photo: The Hanoi Times

Shenzhen is China's third-largest economy after Beijing and Shanghai, with a GDP of US$500 billion by 2022, Mayor Qin said at a meeting with Hanoi People's Committee Vice Chairman Nguyen Manh Quyen this week.

The city is also home to substantial development of large high-tech enterprises such as Huawei and Tencent, he said, adding that 11 of the world's top 500 companies are headquartered in the city.

Among ASEAN countries, Vietnam is Shenzhen's largest trading partner, and the partnership between the two sides has seen significant growth in bilateral trade, Qin said.

In response, Hanoi's Deputy Mayor Nguyen Manh Quyen said there is room for Hanoi and Chinese localities to build and promote bilateral ties.

"With an average gross regional domestic product (GRDP) of 7-8% per year, Hanoi has immense potential for further growth," the official said.

City authorities are addressing key priorities in the construction of ring roads, urban railways and satellite cities, he said.

However, the rapid development has brought problems in transportation, infrastructure and environmental protection, Quyen said.

"Vietnam's capital has great potential for developing high-tech agriculture, as it has a large volume of farmland."

Therefore, Hanoi hopes to attract foreign investors who could help the city develop high-tech and infrastructure to better connect urban, suburban and rural areas, Quyen said.

The Hanoi vice chairman suggested that the two cities work out long-term partnership programs so that Hanoi and Shenzhen can maximize their benefits.

For his part, Qin said Shenzhen enterprises are very capable of helping Hanoi solve its problems and implement future projects.