PM encourages Chinese major corporations to expand investment in Vietnam

Prime Minister Pham Minh Chinh urges top Chinese firms to expand investment and operations in Vietnam.

The Government leader made the call while chairing a roundtable discussion with 23 leading Chinese corporations and enterprises operating in infrastructure, energy, manufacturing, information technology, telecommunications, aviation, and banking on February 28.

During the discussion, Chinh stated that Vietnam’s economy remains stable, inflation is under control, growth is being promoted, major economic balances are ensured, and public debt, government debt, and foreign debt remain within permissible limits.

"This provides room for increased investment and development," he said.

He proposed that enterprises expand their scale and increase investment in both traditional growth drivers, investment, exports, and consumption, as well as emerging sectors such as big data, cloud computing, biomedical industries, clean energy, transportation infrastructure, industrial zones, and economic zones. He also encouraged cooperation in promoting digital payments, QR transactions, and green finance.

The head of government also called on Chinese businesses to increase the transfer of high technology, support Vietnamese enterprises in their development, and integrate them into global value chains. He also invited them to provide feedback to help Vietnam improve its institutional framework, support management science, and enhance smart governance capabilities.

This year, Vietnam has set a GDP growth target of over 8%, aiming to build momentum for double-digit growth in the coming years. The Prime Minister noted that China’s own development experience has shown that sustaining over 10% growth for decades is necessary to become a high-income developed country.

At the roundtable, Chinese businesses expressed confidence in Vietnam’s economic prospects and praised the country's investment and business environment. They viewed "Vietnam as an attractive global investment destination and a crucial link in the global supply chain."

In reality, Chinese investment projects in Vietnam have been growing in both number and quality. To date, Chinese firms have invested over $6 billion in Vietnam in green, circular, and renewable economic sectors.

Chinese Ambassador to Vietnam He Wei said that Chinese investment in Vietnam is facing unprecedented opportunities, particularly in green development and the digital economy.

"Chinese enterprises have great confidence in the Vietnamese market," he said. He urged Vietnamese authorities to uphold the principle of "harmonized interests and shared risks" and to treat Chinese businesses as trustworthy partners. This, he said, would help both countries create exemplary cooperation projects and contribute to building a strategically significant Vietnam-China shared community for the future.

Chinese businesses expressed interest in expanding investments in key infrastructure sectors, as well as in new growth drivers such as the green economy, digital economy, circular economy, electronics, information technology, and clean energy. They also called on the Vietnamese government to address certain challenges to further promote economic, trade, and investment cooperation between the two nations.

Regarding these recommendations, the Prime Minister instructed the relevant ministries and agencies to review and respond within one week, ensuring that solutions are clear, responsibilities are well-defined, and outcomes are delivered.

He also directed the Ministry of Transport and the Ministry of Construction to accelerate the implementation of railway projects connecting the two countries—including the Lao Cai–Hanoi–Haiphong, Lang Son–Hanoi, and Mong Cai–Ha Long–Haiphong rail lines—so that these projects can serve as symbols of bilateral relations.