Shanghai (VNA) – National Assembly (NA) Chairman Vuong Dinh Hue on April 10 attended a policy and law forum in Shanghai, which was set to promote investment and trade ties between Vietnam and China, as part of his official visit to the neighbouring country.

The event saw the attendance of Vietnamese and Chinese officials and about 400 representatives from the businesses communities of the two countries.

In his remarks, Hue expressed his impressions of Shanghai’s dynamic development and his delight at the significant progress of the Vietnam-China relationship, covering economic-trade-investment cooperation – a bright spot of the bilateral relations, which, however, has yet to match both sides’ potential.

He pointed to factors that would help enhance the economic-trade-investment links such as the reciprocity of the two economies, common perceptions, mutual support in many cooperation mechanisms, and the two sides’ membership of various multilateral cooperation mechanisms like those between the Association of Southeast Asian Nations (ASEAN) and China, and the Regional Comprehensive Economic Forum (RCEP).

There are full legal frameworks and favourable conditions for Vietnamese and Chinese businesses to set up connectivity and cooperation, and together become crucial links of regional and global supply chains, he said.

The top legislator suggested Vietnam and China step up collaboration between their legislatures, governments and localities to share experience in relevant policy and law making; and intensify economic connectivity in the “win-win” spirit, especially concretising the results of General Secretary Nguyen Phu Trong's China visit and the recent visit to Vietnam by Party General Secretary and President of China Xi Jinping.

Vietnam welcomes investors from China, and Shanghai in particular, in such areas as science-technology, research and development, green economy, digital economy, digital transformation, green finance, airport and seaport infrastructure, expressways, high-speed railway, urban railways, electronic component, electric car, artificial intelligence, and high-tech agriculture, which are of the Chinese side’s strength and Vietnam’s demand and potential

He called on Chinese investors to boost the transfer of technology and help Vietnamese firms raise their production capacity, and especially small-and medium-sized enterprises further penetrate into the global value chain.

Hue suggested the enhancement of cooperation mechanisms between governments (G2G), associations, and businesses (B2B) of the two sides to utilise their strengths in the new context.

He used the occasion to appeal to China’s relevant agencies to further facilitate bilateral cooperation activities, and accelerate market opening for Vietnamese agricultural and aquatic products, and processed food, and improve customs clearance efficiency to minimise congestion at border gates. 

The Vietnamese NA will build a transparent, fair and comprehensive legal framework, creating optimal conditions for foreign investors in general and Chinese businesses in particular to operate in Vietnam, he pledged.

Chen Jing, Vice Chairman of the Shanghai People's Congress Standing Committee, noted that Shanghai welcomes more and more Vietnamese enterprises, investors, people and students to the city, thus forging the bilateral friendship.

Within the framework of the forum, NA Chairman Hue and other delegates attended a ceremony marking the 10th anniversary of Vietjet's first flight to China (2014-2024), and announcing the direct route between Vietnam’s Ho Chi Minh City and Xi'an (China).

After two routes to Shanghai and Chengdu, Vietjet will open a direct route between HCM City and Xi'an from April 29, becoming the airline flying directly from Vietnam to the ancient capital of Xi'an.

With four return flights per week, the new route will help shorten the distance and travel time between the two destinations.

The flights from Ho Chi Minh City to Xi'an will take off on every Monday, Wednesday, Friday, and Sunday at 20:05 (local time), and land in Xi'an Xianyang International Airport at 01:30 the following day (local time). The return flights from Xi'an to Ho Chi Minh City take off on every Monday, Tuesday, Thursday, and Saturday at 02:30 (local time), and land in Ho Chi Minh City at 06:25 (local time).

On this occasion, the national flag carrier Vietnam Airlines announced its plan to put Boeing 787 wide-body aircraft into operation on routes between Vietnam and China.

Specifically, from June 2024, it will operate wide-body aircraft on routes between Hanoi, and Shanghai and Beijing, apart from Airbus A321. From July, the carrier will use wide-body aircraft for all flights between HCM City and Shanghai./.