Top Vietnamese legislator vow to support Chinese firms
Vietnam’s top legislator said the two countries need to better the image of Chinese investment and speed up current China-invested projects.
As part of the week-long visit to China, Chairman of Vietnam’s National Assembly (NA) Vuong Dinh Hue on April 9 met with a number of Chinese executives from leading companies to deliver some messages about Vietnam’s supportive policies for foreign investors.
The meetings with Chinese businessmen were part of Hue’s ongoing visit, his first visit to China as Vietnam's top legislator, at the invitation of Chairman of the Standing Committee of the National People’s Congress (NPC) of China Zhao Leji.
| Chairman of Vietnam’s National Assembly Vuong Dinh Hue (R) and Dai Hegen, Chairman of the Board of Directors of China Railway Construction Corporation (CRCC) on April 9. Photos: VNA, Quochoi |
Apart from talks with Chinese top leaders, including President Xi Jinping, the main focus of the agenda is to boost investment and trade. As such, the Vietnamese top legislator reiterated that Vietnam’s National Assembly and Government give strong support to foreign businesses, including Chinese ones.
In a specific move, he met with top executives from Chinese leading firms, including China Railway Construction Corporation (CRCC), China Communications Construction Company (CCCC), China International Energy Group, and Huawei.
In a meeting with the Vietnamese lawmaker, Dai Hegen, Chairman of the Board of Directors of CRCC, said Vietnam is one of the group’s most important markets in Asia. The company is undertaking a number of infrastructure projects in Vietnam and expects to participate in building standard railways.
In the past time, Vietnam and China have agreed to connect cross-border standard railways, including Lao Cai – Hanoi – Haiphong, Dong Dang – Hanoi – Haiphong, Dong Dang – Hanoi, Mong Cai – Ha Long – Haiphong. These routes are important for boosting the trade and economy of both countries.
| Chairman of Vietnam’s National Assembly Vuong Dinh Hue and Chairman of the China Communications Construction Company (CCCC) Wang Tongzhou. |
Meanwhile, in working with Chairman of the China Communications Construction Company (CCCC) Wang Tongzhou, Vuong Dinh Hue said infrastructure is one of the three pillars (along with institution and manpower) in the country’s strategic breakthrough.
By law, Vietnam’s National Assembly (NA) evaluates and decides whether to approve investment policies for key national projects. Since the beginning of its term in July 2021, the NA has decided on investment policies for many major infrastructure projects in line with established development strategies. He stressed that Vietnam encourages public-private partnership (PPP) in this sector while refining the legal framework for more foreign investment.
Wang Tongzhou said CCCC has conducted more than 20 projects in Vietnam since operating in the country in 1996. The projects vary between infrastructure and energy, such as Hanoi – Haiphong Expressway, Cai Mep – Thi Vai Port, a wind power project in Soc Trang
In talking with Lyu Ze Xiang, Chairman of China International Energy Group, Vuong Dinh Hue hailed the group’s recommendations on Vietnam’s electricity policy and planning as well as the company’s investment expansion plans.
He said Vietnam is encouraging foreign investment in renewable energy to accelerate its energy transition following the approval of the country’s Power Development Plan VIII (PDP8) for the 2021-2030 period with a vision to 2050.
On this occasion, Vuong Dinh Hue and the Vietnamese senior officials visited Huawei R&D Center and met with Huawei's Chairman Liang Hua. He said that as a country with the fastest digital transformation pace, Vietnam is promoting the digital economy to make it accounting 20% of GDP by 2025 and 30% by 2030. In this regard, Vietnam attracts big investors, including Huawei, to the process.
| Chairman of Vietnam’s National Assembly Vuong Dinh Hue and Huawei's Chairman Liang Hua. |
New move in cooperation between the two parliaments
Vietnam’s National Assembly of Vietnam and the National People’s Congress of China have signed agreements to set up a Cooperation Committee to oversee the Comprehensive Strategic Cooperative Partnership.
The agreements were signed at the meeting on April 8 between Chairman of Vietnam’s National Assembly (NA) Vuong Dinh Hue and Chairman of the Standing Committee of the National People’s Congress (NPC) of China Zhao Leji.
Accordingly, the Cooperation Committee, which is co-chaired by the two Chairmen, shapes the parliamentary cooperation mechanism between the two countries, promoting exchange, cooperation, and experience sharing between the specialized committees.
The NA Office and the NPC Office also signed a cooperation agreement.
In talks between the two chairmen on April 8, Vuong Dinh Hue said the Communist Party of Vietnam and the State value the long-lasting, stable, and sustainable relationship with China, making it the top priority in Vietnam’s independent, diversified, and multilateral diplomacy.
| Chairman of Vietnam’s National Assembly Vuong Dinh Hue and Chairman of the Standing Committee of the National People’s Congress of China Zhao Leji. |
Zhao Leji shared the same view, saying that Vietnam is a priority in China’s neighborhood diplomacy.
The two sides discussed measures to strengthen the relations between the parliaments and to concretize the consensus reached by top leaders during the visit to China by General Secretary of the Communist Party of Vietnam Nguyen Phu Trong in November 2022 and the visit paid by China’s President Xi Jinping in December 2023.
Both sides agreed to effectively implement the joint statement on building a Vietnam-China community of shared future with strategic significance to strengthen the comprehensive strategic cooperative partnership.
During the talks, Vuong Dinh Hue requested China to facilitate the establishment of Vietnam’s trade promotion agencies in Chengdu (Sichuan), Haikou (Hainan), and Nanjing (Jiangsu) to import more goods and agriculture products from Vietnam and to sign an agreement on rice trade soon. China is also expected to pilot smart border gates to boost the efficiency of customs clearance and the transit of Vietnamese goods.
Part of the talks focused on efforts to boost the image of Chinese big companies in Vietnam. Vuong Dinh Hue hoped that both sides would work to thoroughly tackle problems hindering Chinese investment projects in Vietnam while studying the construction of standard railways on the Hanoi-Lao Cai section, Hanoi-Quang Ninh section, and Hanoi-Lang Son section.
Vuong Dinh Hue called on the two sides to proactively promote negotiations on maritime cooperation while working well on agreements signed in search and rescue and in dealing with issues arising in fishing.
Meanwhile, the two countries need to soon sign a new agreement on fishing in the Gulf of Tonkin and work with ASEAN member states on negotiations of the Code of Conduct (COC) on the East Sea (South China Sea), which is substantive and in line with international law, including the United Nations Convention on the Law of the Sea (UNCLOS) 1982, Hue said.
