(MPI) - Deputy Minister of Planning and Investment Tran Quoc Phuong expressed his belief that the cooperative partnership between Vietnam and China, including economic corridor cooperation among five provinces and cities of Lao Cai, Hanoi, Hai Phong, Quang Ninh of Vietnam and China’s Yunnan province, will continue to flourish in the coming time. He made the statement while attending the 10th conference on economic corridor cooperation involving five provinces and cities of Vietnam and China took place in Hanoi on November 13.

Deputy Minister of Planning and Investment Tran Quoc Phuong addresses the event. Photo: MPI

Deputy Minister Phuong said that the conference is a practical event to further promote the bilateral ties after the 15th anniversary of the establishment of the Vietnam-China Comprehensive Strategic Cooperative Partnership.

China has remained Vietnam’s biggest trade partner; the total import-export turnover between the two countries reached 175.56 billion USD in 2022, and it hit 138.9 billion USD in the first 10 months this year, down 5.88% year-on-year.

Currently, China is running 4,032 projects in Vietnam with a total registered investment capital of over 26 billion USD, ranking sixth among the 144 countries and territories investing in Vietnam.

In terms of development cooperation, the Chinese Government has provided preferential credit loans and non-refundable aid for Vietnam to implement projects in infrastructure, healthcare, culture and education, which  contributing to the country’s socio-economic development, poverty reduction and human resource development.

Deputy Minister Phuong also said that Vietnam and China have issued a joint statement on continuing to promote and deepen the Vietnam-China comprehensive strategic cooperative partnership after the China visit by General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong.

Regarding economic corridor cooperation among five provinces and cities of Hanoi, Hai Phong, Quang Ninh and Lao Cai of Vietnam and China’s Yunnan province, the two sides have signed a memorandum of understanding (MoU) to jointly promote the connection between the “Two Corridors, One Belt”  framework of Vietnam and the Belt and Road Initiative. The economic corridor cooperation among five provinces and cities of China and Vietnam is one out of two economic corridor within the “Two corridors, One Belt” framework.

Deputy Minister Phuong proposed a number of key solutions to promote cooperation of the “Two corridors, One Belt” framework in general, and the economic corridor cooperation involving five provinces and cities of Vietnam and China in particular.

First, upgrading and strengthening transport infrastructure connection, especially those in border areas and border gates, to facilitate trade, tourism and travel between the two countries.

Second, promoting  agricultural, forestry and fishery products and enhancing the application of digital technology and digitalisation in customs clearance at the border gates.

Third, expanding the scale of cooperation that connecting major economic centres of the two countries.

Fourth, localities should increase investment, trade and tourism promotion programs to help businesses understand more about the business and investment environment of each countries.

Fifth, increasing exchanges and cooperation between local authorities, organisations and people of the two countries.

He expressed his belief that with the solid foundation of Vietnam-China comprehensive strategic cooperative partnership, the common perceptions reached by the two countries' senior leaders along with unified efforts, the Vietnam-China partnership, including economic corridor cooperation involving five provinces and cities, will continue to flourish in the coming time.

At the event. Photo: MPI

Speaking at the event, Deputy Prime Minister Tran Luu Quang, Chairman of the Steering Committee for Vietnam-China Bilateral Cooperation, highlighted the positive development of the Vietnam-China relationship, and said that the two sides have promoted cooperation in all fields with frequent exchanges of delegations at all levels, sectors, and localities.

The Deputy Prime Minister said he believes that with the high determination of localities and the active participation of business communities, the economic corridor cooperation between five provinces and cities of China and Vietnam will thrive further in the coming time, contributing to the development of the Vietnam-China comprehensive strategic cooperative partnership between Vietnam and China.

The conference on economic corridor cooperation involving five provinces and cities of of Lao Cai, Hanoi, Hai Phong, Quang Ninh of Vietnam and China’s Yunnan province aims to promote connection of localities in the corridor in particular, and between the two countries in general. Participants at the conference focused their discussion on providing recommendations and solutions to elevate Vietnam-China relationship./.

Bao Linh

Ministry of Planning and Investment