TIANJIN — Prime Minister Phạm Minh Chính on Tuesday reaffirmed the strong and growing economic partnership between Việt Nam and China at the Việt Nam–China Business Connection Forum in Tianjin, held as part of his visit to attend the 16th Annual Meeting of the New Champions of the World Economic Forum.

The forum, themed 'Cooperation in infrastructure development, modern financial services and boosting production capacity based on green energy, smart manufacturing and innovation', brought together high-level government officials, ambassadors, and hundreds of enterprises from both countries. Deputy Prime Minister and Foreign Minister Bùi Thanh Sơn also attended, alongside several Vietnamese ministers and provincial leaders.

Addressing the event, Prime Minister Chính said that economic ties form a central pillar of the Việt Nam–China relationship and called for deeper, more practical cooperation.

“The space and potential for economic cooperation between our two countries remain vast, especially in science, technology, innovation, digital and green transformation and the circular economy,” he said.

He noted that the top leaders of the two countries have agreed to build a Việt Nam–China Community with a Shared Future of strategic importance, anchored in six guiding principles, including “deeper and more substantive cooperation”. In this context, businesses play a key role in bridging the two economies and turning political trust into concrete results.

PM Chính encouraged companies to pursue win–win partnerships that balance shared interests with shared risks, particularly in high-tech, energy, infrastructure, and financial services. He said the current momentum in political relations provides a favourable environment for business cooperation, and that the success of Chinese enterprises in Việt Nam would also contribute to the country’s development.

Việt Nam and China have maintained strong trade and investment relations in recent years. In 2024, bilateral trade reached US$205.2 billion, up 19.3 per cent year-on-year, making Việt Nam China’s largest trading partner in ASEAN and fourth-largest globally. In the first five months of 2025, two-way trade stood at $92.9 billion, up 18.7 per cent compared to the same period last year.

China is also a key investor in Việt Nam. As of the end of 2024, it ranked sixth among 148 countries and territories investing in Việt Nam, with 5,111 valid projects and total registered capital of $30.83 billion. Chinese investment spans 19 of Việt Nam’s 21 FDI sectors and is present in 55 of 63 provinces and cities.

Tourism has also rebounded, with Việt Nam welcoming 3.74 million Chinese visitors in 2024, accounting for over 21 per cent of international arrivals and making China the second-largest tourist source market.

At the forum, Chinese business representatives described Việt Nam as one of the region’s fastest-growing and most dynamic economies. They praised Việt Nam’s improving investment climate and expressed strong interest in expanding operations, particularly in infrastructure, high technology, and clean energy.

Vietnamese businesses, meanwhile, outlined the country’s strategic development goals, including digital transformation, innovation, and infrastructure upgrades, especially in railway transport and telecommunications. They voiced hope that Chinese partners would continue to support Việt Nam through financing, technology transfer, and smart governance solutions.

In his speech, Prime Minister Chính praised China’s rapid progress in science and technology, infrastructure development, and innovation. He said Việt Nam was eager to learn from China’s experience as it enters a new phase of development.

"Việt Nam is now entering a new era of prosperity and modernisation," he said, adding that the country is pursuing institutional, infrastructure, and human resource breakthroughs to boost productivity and competitiveness.

The Prime Minister recalled the close historical and cultural ties between the two countries, underlining the shared revolutionary roots and long-standing cooperation. He said the two sides should continue to uphold the spirit of friendship and solidarity, especially in the face of global uncertainties and geopolitical tensions.

“The world today presents more challenges than opportunities. That is why Việt Nam and China, and our businesses, must unite and remain confident, ready to turn difficulties into drivers of growth,” he added.

With bilateral relations enjoying strong momentum and economic ties expanding, the Prime Minister expressed confidence that businesses on both sides would continue to drive forward practical cooperation, generating greater value and contributing to the stability and prosperity of the two nations.

The event also saw nine cooperation agreements inked among Vietnamese and Chinese in the fields of energy, railway, information technology, telecommunications, real estate, transportation, import and export of goods. — VNS