reply Vietnam looks forward to deepening business cooperation with China

At the business opportunities meeting between China and Vietnam held recently, political and business people from both sides discussed the potential and opportunities of bilateral cooperation. Vietnam hopes to attract Chinese businesses to invest and cooperate by taking advantage of the cost and the advantages of several free trade agreements.Nong Delai, Commercial Officer in Chief of the Vietnamese Embassy in China, said in his keynote speech that in the comprehensive strategic cooperative partnership between Vietnam and China, economic and trade cooperation has always occupied a relatively important and prominent position. According to Chinese customs statistics, the trade between Vietnam and China will increase by 18.7% in 2020, among which Vietnam's export to China will reach US $78.4 billion, up by 22.4%. Vietnam's imports from China amounted to US $113.8 billion, up 16.3 percent. In 2020, China's investment in Vietnam reached 2.46 billion US dollars, down 40% year on year, still ranking the top three among the 112 countries and regions that invested in Vietnam. This shows that the strength and prospects of bilateral economic, trade and investment cooperation are very optimistic.Nongdelai said the Vietnamese government has made unremitting efforts to reform and the macro economy has maintained stability. According to him, Vietnam has many advantages in terms of investment and business opportunities, which are mainly reflected in the following aspects: First, it has rich labor resources. With a population of more than 96 million, Vietnam's labor costs are now lower than many ASEAN countries. Second, it has preferential policies, including taxation and land rental fees, which provide convenience and preferential treatment for foreign-funded enterprises. The government assists and develops the infrastructure and public facilities of investment projects. Third, Vietnam has signed 15 multilateral and bilateral free trade agreements, 13 of which are in implementation. This helps enterprises investing in Vietnam enjoy preferential import and export tariffs.Xu Ningning, Executive Director of China-ASEAN Business Council, said that China-Vietnam economic, trade and investment cooperation will overcome the impact of the epidemic and grow against the trend, which is of positive significance to their respective economic and social development and regional economic recovery. To strengthen bilateral economic, trade and investment cooperation conforms to the objective law of economic development and the common needs of both sides. He proposed to further synergize the "One Belt And One Road" and "Two Corridors and One Ring" to continuously tap the potential of bilateral economic and trade cooperation. On the premise of ensuring epidemic prevention and security, we should work together to maintain stable supply chains and smooth trade between the two countries. The two sides should strengthen industrial cooperation, build a new industrial chain that complements each other's strengths and promote industrial upgrading. It is believed that in the New Year, China and Vietnam, which are connected by mountains and rivers, will enhance economic cooperation and deepen trade and investment cooperation while fighting the epidemic, which will help jointly cope with the adverse impact of the epidemic on economic development and the unstable situation of the world economy, and will benefit the economic recovery and growth of the two countries and the region at large.The participants of the conference are representatives from the electric power, transportation, leather, building materials, machinery, real estate, petroleum and textile industries.