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PM Phuc, who is in Beijing for the second Belt and Road Forum for International Cooperation, met with executives of Alibaba, Huawei, ZTE, China Railway Group and China Development Bank, among others.
Many of the participating firms said they would invest in the energy sector in Vietnam, especially energy infrastructure, wind and solar power, smart healthcare and agriculture.
Meanwhile, the enterprises active in the technology and telecom sectors said they were impressed by the Vietnamese Government’s plans to embrace digital and 5G technologies to fuel growth. They expected to play a part in these plans.
For his part, PM Phuc hailed Chinese firms’ plans to invest in Vietnam, saying that Vietnam is in dire need of capital for infrastructure, energy, technology and finance-banking development projects.
Vietnam has become an increasingly attractive destination for international companies as investors from 130 countries and territories have injected more than US$350 billion into 28,000 projects in the nation.
He pledged that Vietnam would create favorable conditions for foreign firms, including those from China with strong financial and technological capacities, to do business in Vietnam.
At a meeting with Chinese Party General Secretary and President Xi Jinping, PM Phuc praised the development of bilateral relations between the two countries and the two parties over the years. He affirmed that Vietnam consistently pursues a foreign policy of independence, self-reliance, peace, cooperation and development.
Vietnam attaches much importance to promoting the Vietnam-China comprehensive strategic partnership, he added.
The country supports the Belt and Road initiative, which ensures the principles of peace, equality and mutual benefits and the adherence to international law towards the development and prosperity of all countries, PM Phuc said.
He appreciated the two countries’ efforts to open up their markets for better trade balance, and said China is welcomed to execute large projects in Vietnam using modern and environmentally-friendly technology.
The two sides should intensify their cooperation in managing and using water resources of the Mekong River and other shared rivers, monitoring nuclear safety and three documents on the Vietnam-China land border, and should extend the bilateral agreement on the sea fishing hotline, PM Phuc suggested.
Regarding the sea issues, PM Phuc said the two sides should continue complying with the agreement on basic principles guiding the settlement of issues at sea, and handle sea issues by peaceful means and in line with international law.
In addition, Vietnam and China should fully and effectively implement the Declaration on the Conduct of the Parties in the East Sea and promote negotiations on the completion of the Code of Conduct in the East Sea to maintain peace and stability in the East Sea.
Speaking at the meeting, China’s Party General Secretary and President Xi said China attaches importance to its relationship with Vietnam and would promote its comprehensive strategic partnership with Vietnam.