Permanent Deputy Prime Minister Nguyễn Hòa Bình addresses the opening session of the Belt and Road Summit 2024 in Hong Kong (China) on Wednesday. — VNA/VNS Photos Xuân Vịnh

HÀ NỘI — Permanent Deputy Prime Minister Nguyễn Hòa Bình emphasised Việt Nam’s open economy and consistent stance on multilateralism as he leads the Vietnamese delegation to attend the Belt and Road Summit 2024 in Hong Kong SAR (China).

Việt Nam supports compliance with international laws and actively participates in various cooperation and economic initiatives, including the Belt and Road Initiative, said the deputy PM.

Vietnamese and Chinese leaders have agreed to strengthen strategic development links between the two countries.

Addressing the event in the opening plenary, Deputy PM Bình praised the Belt and Road Initiative for promoting global economic connectivity, as well as south to south cooperation.

Collaboration efforts in the future should focus on ensuring stable, long-term economic growth that respects the environment and nature, maintaining an open global economy, as well as linking the Belt and Road Initiative with other national and regional development strategies, he said.

The Vietnamese leader also underlined equality, open mindedness, mutual benefits and international law compliance, in carrying out economic connectivity and cooperation initiatives in the region and the world to contribute to the common goals of peace, prosperity, sustainable and inclusive growth.

Noting the complementary economic advantages between Việt Nam and Hong Kong SAR, Deputy PM Bình proposes five priorities for economic cooperation, the first being promoting collaboration in financial services and securities.

Việt Nam and Hong Kong SAR can better facilitate trade and goods transport by looking into expanding regional economic corridors and supporting businesses in trade promotion and market development.

They should also enhance high-quality investments and branch out into emerging sectors such as biotechnology, semiconductors, renewable energy and smart cities for green and digital transformations.

He also proposed strengthening infrastructure connectivity, especially railways and borders, between Việt Nam and China. He called for investment and technology transfer from capable Hong Kong businesses for large-scale transport projects that hold a representative value of Việt Nam-China ties.

Other focuses include promoting relations between cities and people-to-people exchanges, as well as two-way tourism promotion.

Permanent Deputy Prime Minister Nguyễn Hòa Bình at Việt Nam's exhibition booth at the Belt and Road Summit 2024.

The Belt and Road Summit 2024 attracted nearly 6,000 government officials and business representatives from approximately 70 countries and economies.

Taking on the theme of 'Building a Connected, Innovative and Green Belt and Road' this year, discussions within the event centres on initiatives and proposals to expand cross-national trade and investment, promoting green and inclusive growth, transportation and logistics infrastructure connectivity, financial and trade service cooperation, as well as science-technology and innovation.

In his opening remarks, Chief Executive of Hong Kong SAR John Lee (Lee Ka-chiu) stressed the role of the region as an important point of connection between China and the world, as well as its vision to become a: “Superconnector and super value-adder.”

Hong Kong SAR also looks forward to expanding cooperation with other countries for a global economy with multi-faceted connectivity and green development.

Delegates at the event also emphasised the need for better coordination between governments and businesses and building a new generation of entrepreneurs that are professionally capable and socially responsible.

The summit also includes multiple business networking sessions and exhibition programmes to promote the potential and achievements of various economies as well as investment projects. — VNS