Prime Minister Pham Minh Chinh successfully concluded his official visit to China and attended the WEF Tianjin Conference.

Promoting and deepening the Vietnam-China comprehensive strategic cooperative partnership

This is Comrade Pham Minh Chinh's first visit to China as Prime Minister, taking place at a time when Vietnam and China are celebrating the 15th anniversary of the establishment of the Comprehensive Strategic Cooperative Partnership (June 2008 - June 2023), in the context of the relationship between the two Parties and the two countries maintaining a developing situation and achieving many new positive results. The visit is of great significance in concretizing the common perceptions of the two General Secretaries, especially the Joint Statement of November 2022 on continuing to promote and deepen the Comprehensive Strategic Cooperative Partnership between the two countries.

Continuing the tradition of high-level contacts and exchanges between the two countries, Prime Minister Pham Minh Chinh's official visit to China and China's solemn reception for Prime Minister Pham Minh Chinh demonstrate the importance of the two Parties and two countries in the Vietnam-China Comprehensive Strategic Cooperative Partnership and their determination to develop this relationship to become more sustainable, stable and substantive.

The visit achieved many important results:

Political trust between the two countries has been strongly enhanced, creating an important foundation to promote and further deepen the Vietnam-China Comprehensive Strategic Cooperative Partnership in the new situation, bringing benefits to the people of the two countries.

The Chinese side gave Prime Minister Pham Minh Chinh a very respectful, thoughtful, warm, and "comradely" welcome; arranged for the Prime Minister to hold talks and meetings with all four top leaders of China: General Secretary and President Xi Jinping, Premier of the State Council Li Qiang, Chairman of the National People's Congress Zhao Leji, and Chairman of the Chinese People's Political Consultative Conference Wang Huning. In a friendly, sincere, and open atmosphere, the senior leaders of the two countries emphasized the importance of enhancing political trust, properly handling and controlling disagreements, and developing the Vietnam-China Comprehensive Strategic Cooperative Partnership in a stable, healthy, and long-term effective manner.

Prime Minister Pham Minh Chinh emphasized: The Party, State and people of Vietnam consistently attach importance to developing good relations with the Party, State and people of China; affirming that this is a consistent policy, a strategic choice and a top priority in Vietnam's foreign policy of independence, self-reliance, multilateralization and diversification.

The senior Chinese leaders all affirmed that they attach great importance to the friendly relations between the two Parties and the two countries, and expressed their sincerity and goodwill in further deepening cooperation between the two sides, especially on the Party channel, in important areas such as security and defense. In particular, General Secretary and President of China Xi Jinping affirmed that developing relations with Vietnam is a strategic choice of China, and China attaches great importance to developing long-term relations with Vietnam.

The two sides reached many important common perceptions and agreed on many specific measures to promote cooperation in various fields between the two countries, contributing to creating an important material foundation to help promote the Vietnam-China relationship in the coming time.

The two sides agreed to improve the quality of economic, trade and investment cooperation, promote transport connectivity, especially in the fields of railways, roads and border gate infrastructure, improve customs clearance efficiency, maintain smooth trade, and ensure production and supply chains.

During the meetings, the Chinese side affirmed that it will increase the import of Vietnamese goods, especially agricultural products, increase the quota for Vietnamese goods transiting by Chinese railway to third countries, and expand high-quality Chinese investment in areas suitable to Vietnam's needs.

The visit helps to increase friendly understanding and strengthen the social foundation for the development of bilateral relations.. The two sides reached many important consensuses on maintaining regular exchanges and contacts through the Party, Government, National Assembly, Fatherland Front, between ministries, branches, localities and especially between the people of the two countries. They agreed to restore people-to-people exchange activities such as the Vietnam-China People's Forum, the Vietnam-China Youth Festival, and the Vietnam-China Friendship Meeting, thereby helping to promote the friendship tradition of the two Parties and two countries to all walks of life, especially the younger generation.

In addition, official union members had many bilateral meetings, exchanges and contacts with leaders of relevant Chinese agencies, contributing to enhancing mutual understanding and trust, creating an important foundation for further deepening exchanges and cooperation in various fields between the two countries in the coming time.

With the theme "Enterprises: The Engine of the Global Economy", the 2023 WEF Tianjin (Summer Davos) Conference, organized by the WEF in collaboration with the Chinese Government, is of great significance. This is one of the world's leading economic events, gathering about 1,400 large corporations and enterprises worldwide, with the participation of government leaders, leaders of many international organizations and prestigious economic experts.

Taking place in the context of the world economy facing many difficulties and challenges, the Conference focused on assessing, discussing, and finding directions and solutions, especially coordination between the State and enterprises, to maintain growth momentum and respond to "headwinds" that seriously impact global economic growth in both the short and long term.

Prime Minister Pham Minh Chinh, along with the Prime Ministers of New Zealand, Mongolia, and Barbados, are the main guests at this year’s conference. According to the WEF, these are representatives of emerging economies that are making increasingly important contributions to the regional and global economy, and are pioneering in a number of key areas to create new driving forces for development.

The invitation of Prime Minister Pham Minh Chinh to attend this conference shows the importance that WEF and the international business community attach to the position and role of the Vietnamese economy, as well as the determination to reform and open up the Vietnamese economy. In particular, the Vietnam - WEF National Strategic Dialogue is the only national dialogue activity held within the framework of the Conference, aiming to share Vietnam's experience as a model of economic recovery and accelerating the transformation of the growth model, creating opportunities to discuss orientations, policies and the investment and business environment in Vietnam.

Prime Minister Pham Minh Chinh had a busy schedule for nearly 24 hours in Tianjin, including attending and speaking at many important meetings, having substantive, effective and open discussions with leaders of countries, international organizations and the world's leading corporations. Highlights included meetings with WEF Chairman Klaus Schwab, Prime Ministers of New Zealand, Barbados, Mongolia, Director General of the World Trade Organization (WTO) and many business leaders, especially at the Vietnam - WEF National Strategic Dialogue on the topic "Promoting new growth drivers to build the country's future".

Prime Minister Pham Minh Chinh's participation at the WEF Tianjin Conference was meaningful and achieved many important results:

The Prime Minister shared many viewpoints, approaches, directions, and effective, practical, and timely solutions, derived from Vietnam's reality and experience, to promote global economic growth.

The Prime Minister pointed out six "headwinds" that are hindering the growth of the world economy and Vietnam. They are: (i) global economic downturn, rising inflation...; people's lives are facing many difficulties; (ii) the consequences of the COVID-19 pandemic on the world economy and countries are still long-lasting; (iii) geostrategic competition, protectionism, separation, fragmentation, lack of close connection; (iv) conflicts, including the conflict in Ukraine, threatening global food and energy security; (v) developing countries are most heavily impacted and have limited ability to adapt and withstand external shocks; (vi) climate change, natural disasters, and epidemics are increasingly complex and unpredictable.

To cope with the "headwinds", Prime Minister Pham Minh Chinh has proposed an approach and six important orientations. Regarding the approach, the Prime Minister believes that these are global issues that affect all people, so a global, all-people approach is needed.

Regarding orientations, first, it is necessary to strengthen international solidarity, promote multilateralism; put people as both the target, the subject, the center, the resource, and the driving force for development.

Second, it is necessary to focus on restoring production and business, creating jobs, promoting trade and investment, creating capital flows, markets and products. International organizations, international financial institutions and major countries need to have policies to unlock resources, activate new growth drivers in digital transformation, green growth, circular economy, market diversification, and combating protectionism, with special priority given to poor and developing countries.

Third, there are appropriate solutions to promote aggregate supply and aggregate demand through monetary and fiscal policies, promote trade and investment liberalization, and reduce energy and food prices.

Fourth, do not politicize economic relations and minimize factors that hinder global development.

Fifth, seek early solutions to conflicts.

Sixth, strengthen public-private cooperation, create favorable conditions for businesses, especially small and medium enterprises.

The six "headwinds", which are also the six main causes of the global economic downturn, and the six solutions proposed by the Prime Minister were shared by leaders of countries and the business community. Prime Minister Pham Minh Chinh's message on the three fundamental factors for economic development, which are ensuring peace, stability, solidarity, international cooperation, a global, all-people, comprehensive approach, especially unlocking resources, promoting growth drivers and developing the potential of small and medium-sized enterprises, was highly appreciated and became a highly unified orientation at this year's WEF Conference.

Along with that, the participation of the Prime Minister has continued to contribute to promoting the substantive relationship between Vietnam and WEF.

The signing of the Memorandum of Understanding (MOU) for the 2023-2026 period, focusing on feasible areas such as innovation, green transformation, green finance, digital transformation, etc., has created a foundation to strengthen bilateral relations in the new period. With this important result, WEF will further promote cooperation, support Vietnam in policy advice and improve adaptability to new development trends, support ministries, sectors and localities in issues of practical benefit such as smart agriculture, developing industrial clusters towards net zero emissions, establishing the Fourth Industrial Revolution Center in Vietnam, etc.

Prime Minister Pham Minh Chinh’s first participation at the WEF Summer Annual Meeting has left a positive impression on the international business community about Vietnam’s role and position, and the potential and bright prospects of the Vietnamese economy. Vietnam’s practical contributions have significantly contributed to the success of the Meeting, contributing to promoting the Vietnam – WEF relationship, further enhancing the attraction of external resources to serve the implementation of the country’s socio-economic development goals.

Messages to the global and Chinese business community

Vietnam's participation at the WFF Tianjin Conference, along with many meetings and exchanges between the Prime Minister and leaders of the world's leading corporations and large Chinese corporations, as well as the Prime Minister's speech at the Vietnam - China Business Forum with the participation of a large number of Chinese enterprises, continued to convey important messages to the global business community.

These are valuable opportunities for foreign enterprises to gain a deeper understanding of policies, strategies and investment environment, thereby increasing confidence and promoting investment and business in Vietnam.

The Prime Minister clearly introduced to investors and businesses the fundamental development factors, achievements, potentials, strengths, development goals and orientations of Vietnam, and key solutions in the coming time so that Vietnam can continue to attract investment, reduce costs, improve quality, and enhance investment efficiency.

The Prime Minister emphasized Vietnam's orientation in attracting FDI selectively, effectively and sustainably, taking quality, efficiency, technology and environmental protection as the main evaluation criteria. Regarding priorities, Vietnam promotes attracting and has policies to encourage projects in the fields of high technology, innovation, research and development; projects that facilitate Vietnamese enterprises to participate in the value chain; projects that promote digital economy, green economy, circular economy, sharing economy and sustainable development.

At the discussions, Vietnam was always introduced as one of the economies with high growth rates, dynamism, innovation with increasingly large scale and potential. Business leaders highly appreciated Vietnam's economic recovery achievements and prospects, and identified Vietnam as one of the bright spots of economic recovery in the region, a successful model in disease prevention, playing a pioneering role in transforming the growth model and committing to energy transition.

Many businesses are impressed by the Vietnamese Government's great attention and support, with many policies aimed at removing difficulties and creating better business conditions for businesses. With the Government's drastic policies and measures, the business community believes that Vietnam is one of the most suitable choices, an investment destination and a place to seek long-term cooperation opportunities.

Rich and meaningful activities

During this working trip, the Prime Minister also had many meaningful activities. In particular, the Prime Minister's meetings with leaders of countries at WEF Tianjin contributed to further deepening the relationship between Vietnam and Mongolia, New Zealand, Barbados, especially in areas with great potential such as economy, trade, tourism, etc.

The Prime Minister's meeting with Chinese friendship figures once again affirmed that Vietnam always treasures the friendship, support and valuable assistance that the two Parties, two countries and two peoples have given each other in the past struggle for national independence and the present-day construction of socialism; emphasized the need to continue nurturing the Vietnam-China friendship, continuing and promoting the achievements left by previous generations, worthy of the Vietnam-China comprehensive strategic partnership in the new era.

During the visit, the Prime Minister also met with officials and staff of the Vietnamese Embassy and representatives of the Vietnamese community in China; affirming that our Party and State always consider the Vietnamese community abroad, including the Vietnamese community in China, as an inseparable part of the great national unity bloc, one of the driving forces and sources of strength for the country's development, with the requirement to continue to well implement Resolution 36 and Conclusion 12 of the Politburo on the work of Vietnamese people abroad in the new situation.

The Prime Minister also inspected Xiong'an New Area - the latest model of China's reform, opening up and innovation in Hebei province, to learn about China's experience in planning, site selection, resource mobilization and exploitation mechanisms, especially non-social resources in building this national pilot model.

Prime Minister Pham Minh Chinh's working trip was a great success and achieved many important results, contributing to further promoting and deepening the Vietnam-China Comprehensive Strategic Cooperative Partnership, while continuing to contribute to promoting new growth drivers of the world economy in the context of many difficulties and challenges, conveying the message of a dynamically developing and innovative Vietnam, building an independent and self-reliant economy associated with deep, substantive and effective international integration, being a proactive, active and responsible member of the international community, participating in solving common challenges globally, for a strong and prosperous Vietnam, with increasingly prosperous and happy people, for peace, stability, cooperation and development in the region and the world./.