On February 28, Prime Minister Pham Minh Chinh hosted a roundtable discussion at the Government Office in Hanoi with leading Chinese corporations, reinforcing Vietnam’s commitment to expanding economic cooperation with China.

The event was attended by Deputy Prime Ministers Ho Duc Phoc and Nguyen Chi Dung, along with government ministers and provincial leaders from Vietnam.

The Chinese delegation included Ambassador He Wei, representatives of Chinese business associations, and 23 major Chinese corporations operating in infrastructure, energy, manufacturing, telecommunications, and banking.

Prominent Chinese companies explore investment opportunities in Vietnam

The roundtable featured some of China’s largest corporations, including:

Infrastructure & construction: China Railway Sixth Bureau, China State Construction, China Communications Construction, Pacific Construction.

Aviation & manufacturing: Commercial Aircraft Corporation of China (COMAC).

Energy & power: Power China, China Energy Engineering Group, Huadian Corporation.

Automotive & technology: BYD, Geely, Chery, TianNeng Battery Group, TCL, Huawei, ZTE, Goertek.

Banking & finance: Bank of China (BOC), Agricultural Bank of China, Industrial and Commercial Bank of China (ICBC).

Chinese firms express strong confidence in Vietnam’s economic prospects

Chinese Ambassador He Wei emphasized that China’s investment in Vietnam is at an all-time high, particularly in green energy, circular economy, and high-tech industries. To date, Chinese enterprises have invested over USD 6 billion in Vietnam’s sustainable energy and recycling sectors.

He highlighted that Vietnam is entering a new era of economic growth, supported by strong government leadership and strategic policies. He encouraged Chinese firms to view Vietnam as a key investment destination, aligning with both countries' long-term economic strategies.

Ambassador He Wei reiterated that Chinese enterprises see Vietnam as a trusted business partner, urging both governments to adopt a “mutual benefit, shared risk” approach to deepen economic cooperation.

Prime Minister Pham Minh Chinh reaffirmed Vietnam’s commitment to:

Stable economic growth, targeting GDP growth of 8% or higher in 2025, with an ambition to sustain double-digit growth in the following years.

Macro-economic stability, maintaining low inflation, controlled public debt, and a strong financial foundation for investment expansion.

Sustainable development, with a focus on green energy, high-tech industries, and digital transformation.

The Prime Minister highlighted Vietnam’s three strategic breakthroughs:

Institutional reform – improving governance, legal frameworks, and transparency.

Infrastructure development – prioritizing high-speed rail, highways, airports, and smart cities.

Human resource investment – upgrading workforce skills, digital literacy, and vocational training to support high-tech industries.

Vietnam invites Chinese enterprises to accelerate investment in key sectors

At the meeting, Prime Minister Chinh outlined 13 priority areas for Vietnam-China business cooperation, calling on Chinese firms to use Vietnam as a regional production hub.

Key investment opportunities include:

Renewable energy & green technology: Expansion of solar, wind, and smart grid technologies.

High-tech & digital economy: Investment in AI, cloud computing, big data, and smart manufacturing.

Industrial infrastructure: Development of economic zones, logistics hubs, and smart factories.

Transportation & connectivity: Accelerating projects in railways, highways, ports, and aviation infrastructure.

Financial cooperation: Strengthening digital payments, cross-border trade financing, and RMB-VND transactions.

Government pledges streamlined investment policies

Chinese business leaders acknowledged Vietnam’s improving investment climate, highlighting its central role in global supply chains. However, they also called for further regulatory clarity, simplified approval processes, and expanded bilateral financial cooperation.

In response, Vietnamese officials pledged to:

Fast-track investment procedures, ensuring efficiency and transparency.

Enhance financial support, including tax incentives and preferential financing for strategic sectors.

Strengthen bilateral trade mechanisms, facilitating smoother cross-border business operations.

Prime Minister Chinh assigned the Government Office, Ministry of Finance, and other key agencies to swiftly address corporate concerns and issue an official action plan within one week.

Vietnam and China commit to deeper economic collaboration

The meeting underscored Vietnam and China’s shared commitment to strengthening economic ties, with both sides recognizing the importance of high-impact, long-term investments.

Prime Minister Chinh emphasized that economic cooperation should lead to tangible, measurable benefits, improving the livelihoods of people in both countries.

Vietnam aims to solidify its position as a top investment destination, offering stability, competitive policies, and strong economic growth prospects. Meanwhile, Chinese enterprises are eager to expand in Vietnam, leveraging advanced technologies and financial resources to contribute to Vietnam’s development goals.

As both nations celebrate 75 years of diplomatic relations, this high-level dialogue marks a crucial step toward deepening strategic economic partnerships in the years ahead.

VGP