Beijing (VNA) - Prime Minister Pham Minh Chinh called on Chineseinvestors to expand investment in Vietnam, while addressing the Vietnam - China Tradeand Investment Cooperation Forum in Beijing on June 28 within the framework ofhis official visit to China.

The forum, jointly organised by the China Council for thePromotion of International Trade and the Vienamese Ministry of Planning andInvestment, was also attended by Chinese Vice Premier Liu Guozhong, leaders ofministries and agencies, and representatives from more than 350 enterprises ofboth Vietnam and China.

Participants introduced the economic development situation,the business and investment environment, and investment attraction policies ofeach country, as well as the bilateral cooperation situation; and sharedlessons and experiences in investment and business in each country.

Vice Premier Liu said that the China-Vietnam political trustis being enhanced, and economic, trade and investment collaboration maintaining growth.

Vietnam is China's fourth largest trade partner in theworld, with two-way trade hitting 175 billion USD in 2022, accounting for aquarter of the total trade turnover between China and ASEAN. Meanwhile, Chinais the largest trade partner of ASEAN, of which Vietnam is an active member.

According to the leader, China plans to organise many business and investment cooperationand promotion activities; prioritises green development, digital economy, andclimate change adaptation; and encourages and creates favourable conditions forcompetent enterprises to invest in Vietnam.

He suggested Vietnam continue to create favourableconditions and protect the legitimate interests of enterprises in general andChinese ones in particular, for the development of each country and for peace,security, prosperity and friendship in the ASEAN region and the world.

PM Chinh stressed the need to find the best solution for investors andresearchers to contribute to the development of bilateral relations, and requested authoritiesto continue reviewing and perfecting the legal framework, mechanisms andpolicies, improve the business environment to create favourable conditions forbusinesses to promote trade and investment between the two sides.

It is necessary to have an exclusive working group on tradeand investment, hesaid.

According to him, there remains an ample room to furtherdevelop the bilateral economic, trade and investment relations.

To help Vietnamese products gain a firm foothold in theChinese market, he asked Vietnamese firms to exert more efforts in improving thequality of exports.

Vietnam is prioritising investment projects in hightechnology, innovation, and development research, and encouragingpublic-private partnership, Chinh stated, calling for Chinese investments to strategic infrastructure works such as highways and railways.

The country will continue improving its business and investmentenvironment towards transparency, convenience and internationalcompetitiveness; review and perfect mechanisms, policies and laws; reduce andsimplify administrative procedures and business conditions; develop high-qualityhuman resources and infrastructure; and have timely policy response to arisingissues.

Regarding trade promotion, it is necessary to have specificmechanisms and policies to promote bilateral trade in a more balanced direction;encourage border trade and study the formation of appropriate border trade zones;develop logistics systems; connect supply chains; promote e-commerce; andstrengthen cooperation against smuggling and trade fraud, the Vietnamese PMstressed.

He also welcomed the building of a smart border gate modelbetween Lang Son province of Vietnam and Guangxi province of China.

On the same day, the Vietnamese Government leader hosted areception for leaders of several major economic groups of China that areinvesting in and wishing to expand production and business in Vietnam.

The groups' officials proposed the Vietnamese Government and the PM continueto reform administrative procedures, provide a stable supply of electricity forproduction and enough materials for ground clearance to build industrialparks, and remove obstacles in regulations on fire prevention and control.

Acknowledging the Chinese enterprises’ proposals, Chinh saidthat Vietnam is encouraging businesses, including those from China, to investin renewable energy, power transmission system building, and supportingindustry for the garment and textile sector./.