VN welcomes China hi-tech investment: President

Chinese businesses are encouraged to invest in projects using high technology in Việt Nam, President Trần Đại Quang said at an economic-trade cooperation seminar on Saturday.

The seminar was held in Fuzhou City of Fujian Province, attracting representatives of nearly 300 businesses from Việt Nam and China.

President Quang, who is on a State visit to China, stressed that with total registered investment capital of over US$11.2 billion, China is one of the 10 biggest foreign investors in Việt Nam. It remains the biggest trade partner of Việt Nam for more than 10 years with bilateral trade approximating $72 billion in 2016.

Thanks to favourable sea, road and air connections, Việt Nam is a gateway for China's products to enter ASEAN markets and is China's largest trade partner in the 10-nation ASEAN bloc.

He added that aside from a number of famous destinations like Hạ Long Bay, Đà Nẵng City and Nha Trang City, the continuous opening of air routes will help attract more and more Chinese tourists to Việt Nam.

Targeting a green economy, sustainable development and average GDP growth of 6.5-7 per cent by 2020, Việt Nam treasures all resources, of which private businesses and foreign investment are important driving forces for economic growth. It is also working to improve the investment environment and national competitiveness to attract more domestic and foreign resources, Quang noted.

The Vietnamese leader asked Vietnamese and Chinese firms to continue initiating innovative ideas in order to create a new momentum for bilateral economic partnership.

He suggested Chinese companies invest in infrastructure, logistics, electronics and support industries while protecting the environment and engaging in social activities in Việt Nam.

President Quang asked the two sides to facilitate their strong products' access to each other's markets.

Fujian Governor Yu Weiguo highlighted the close relationship between Fujian and the Vietnamese people and the two sides' economic links.

Trade between Fujian and Việt Nam reached $3.4 billion in 2016, up 13.8 per cent year on year, and $820 million in the first quarter of 2017. In the last three months, 35 businesses from Fujian invested $270 million in Việt Nam.

Yu emphasised that economic, trade and investment relations with Việt Nam are one of the driving forces of the province's development.

Flight route proposed

During his stay in Fujian, the President met with several provincial officials, including You Quan, Secretary of the provincial Party Committee and Chairman of the Fujian People's Congress Standing Committee, and Yu Weiguo, Governor of Fujian.

At the meetings, President Quang expressed his delight to visit Fujian, which is rich in historical traditions and a pioneer in China's reform and door opening process.

Hailing past outcomes of exchanges and co-operation between Việt Nam and Fujian, the President stressed that there is substantial potential for the two sides to expand their collaboration.

The leader expressed his wish that Fujian will step up mutually beneficial co-operation with Vietnamese localities and share experience in socio-economic development, poverty reduction and administrative reform while promoting economic, trade and investment ties with Việt Nam.

He also suggested the Chinese province increase imports of Việt Nam's agricultural, forestry and fishery products, and encourage local businesses to invest in such areas as infrastructure, high-tech agriculture and clean energy in Việt Nam.

The President called on Fujian to diversify people-to-people exchanges with Vietnamese localities and support collaboration between Vietnamese and Chinese universities through the exchange of students and scientific research.

At the same time, the two sides should step up cultural and trade promotion and accelerate the opening of their direct air route, first establishing a flight between Fujian's Xiamen city and Việt Nam's HCM City, he said.

For his part, You Quan affirmed that the provincial Party Committee and authorities always attach importance to co-operation and friendship with Việt Nam and wish to work with Vietnamese localities to materialise common perceptions reached by the two countries' high-ranking leaders and boost collaboration in a more efficient and pragmatic fashion, thus contributing to enhancing the comprehensive strategic partnership between Việt Nam and China.

Following the meeting, President Quang and local leaders signed an agreement on the establishment of friendly co-operation between Việt Nam's northern province of Quảng Ninh and Fujian.

Earlier the same day, the President visited the Fuzhou Administrative Service Centre, a model of one-stop-shop administrative services.

On this occasion, President Quang and his spouse also visited the ancient quarter of Sanfang Qi Xiang, a famous destination in Fuzhou. Quảng Ninh has opened a pavilion introducing its tourism at the site.