Prime Minister Nguyễn Xuân Phúc chaired a meeting with CEOs of leading Chinese business in Nanning, Guangxi, yesterday. — Photo toquoc.vn

GUANGXI — Prime Minister Nguyễn Xuân Phúc chaired a meeting with CEOs of leading Chinese business in Nanning, Guangxi, yesterday. 

The meeting took place on the fringes of the 13th China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS) which began earlier the same day. 

In his remarks at the event, the PM said Viet Nam had become a middle income country and one of the world’s largest exporters. 

He listed Việt Nam’s advantages, including the golden population structure and a young workforce. The country has engaged in 12 free trade agreements and is negotiating four other deals, including the Regional Comprehensive Economic Partnership which involves ASEAN member countries and China. 

Việt Nam has economic and trade ties with 224 countries and territories worldwide, he said, adding that the country was expected to establish free trade relations with 55 new partners, including 15 from the Group of 20 (G20), soon. 

Roughly 21,000 projects worth over $300 billion from more than 100 countries and territories are underway in the country. With 1,500 projects valued at $11 billion, China ranks ninth among countries and territories investing in the Southeast Asian nation. 

Stressing Việt Nam’s commitment to sustainable development, PM Phúc described the decreasing trade deficit between Việt Nam and China as good news. 

He affirmed the Vietnamese Government’s resolve to create an open and transparent business climate for both domestic and foreign enterprises, pledging that the Government and people of Việt Nam would create the best possible conditions for businesses and investors. 

According to Guangxi authorities, the roundtable dialogue, held for the first time in 2009, has become an important mechanism promoting economic ties between China and ASEAN nations. 

Guangxi focuses on economic cooperation with Việt Nam, and considers the country an important destination for investment projects, particularly in infrastructure, technology, finance, monetary, border trade, tourism, education and sports. 

Trade between Việt Nam and Guangxi hit $24.5 billion in 2015, accounting for 25.6 per cent of total trade turnover between Việt Nam and China. 

Guangxi wishes to step up co-operation with Việt Nam and other ASEAN nations, they noted. 

The participating Chinese businesses said they were interested in developing roads and expressways in Việt Nam, and hope to partner with the country in telecommunications, thermo-electricity and renewable energy. 

The dialogue focused on measures to enhance economic and trade cooperation between the two countries. — VNS