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Prime Minister: Investors fail, that means our failure
By Anh Kiet 13:41, 2016/09/12
On September 11 afternoon, in Guangxi (China), Prime Minister Nguyen Xuan Phuc chaired the roundtable dialogue with the CEOs of leading Chinese enterprises.
 
Prime Minister Nguyen Xuan Phuc dialogued with leaders of leading Chinese enterprises
Prime Minister Nguyen Xuan Phuc dialogued with leaders of leading Chinese enterprises

Prime Minister Nguyen Xuan Phuc stressed that Vietnam - China has intimate friendship, "borders with a range of cultural similarities, correlative destiny", the cooperation in the spirit of 16 digits. The dialogue took place on the fringe of the 13th China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS) which kicked off earlier the same day.

In his remarks at the event, the PM said Vietnam has become a middle income earner and one of the world’s largest exporters, with per capita income averaging 5,600 USD. He listed Vietnam’s advantages such as golden population structure and a young workforce. Notably, the country has engaged in 12 free trade agreements and is negotiating other four deals, including the Regional Comprehensive Economic Partnership which involves ASEAN member countries and China.

Vietnam has set up economic and trade ties with 224 countries and territories worldwide, he said, adding that the country is expected to establish free trade relations with 55 partners, including 15 from the Group of 20 (G20), at an early date.
 
Prime Minister Nguyen Xuan Phuc (central, second line) and other delegates at the roundtable dialogue
Prime Minister Nguyen Xuan Phuc (central, second line) and other delegates at the roundtable dialogue
Up to 21,000 projects worth over 300 billion USD of more than 100 countries and territories are being carried out in the country. With 1,500 projects valued at 11 billion USD, China ranks ninth among countries and territories investing in the Southeast Asian nation.

Stressing Vietnam’s orientations of balancing import-export and ensuring sustainable development, PM Nguyen Xuan Phuc described the decreasing trade deficit between Vietnam and China as a rosy trend.

He affirmed the Vietnamese Government’s resolve to create an open and transparent business climate for both domestic and foreign enterprises, pledging that the Government and people of Vietnam will create the best possible conditions for businesses and investors.

According to the Guangxi authorities, the roundtable dialogue, which was held for the first time in 2009, has become an important mechanism promoting economic and trade ties between China and ASEAN nations.

Guangxi pays special attention to economic and trade cooperation with Vietnam, and considers the country an important destination to carry out investment projects, particularly in infrastructure construction, technology, finance, monetary, border trade, tourism, education and sports, they said.

Trade between Vietnam and Guangxi hit 24.5 billion USD in 2015, accounting for 25.6 percent of total trade turnover between Vietnam and China. Guangxi wishes to step up comprehensive cooperation with Vietnam and other ASEAN nations, they noted.

The participating Chinese businesses said they are interested in the development of roads and expressways in Vietnam, and hope to partner with the country in the fields of telecommunications, thermo-electricity and renewable energy.

The dialogue focused on measures to enhance economic and trade affiliation between the two countries, covering collaboration in high-tech.

Chinese enterprises have sent more than 20 questions to PM Phuc, but due to time constraints, could not reply all the questions, the Prime Minister requested Vietnamese authorities to answer in specific writing.
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