Prime Minister Pham Minh Chinh attends the Viet Nam - China Business Connectivity Forum, Tianjin, China, June 24, 2025 - Photo: VGP

Addressing the event, Pham said, the Party and State of Viet Nam always regard the development of friendly relations with China as an objective requirement, a strategic choice, and a top priority in Viet Nam’s overall foreign policy.

Viet Nam is doubling efforts to improve its investment and business environment and ensure property rights, freedom of business, healthy competition, and equal access to resources for all businesses, noted the Vietnamese leader.

Pham expressed his hope that businesses from both sides will strengthen connections on the basis of the sound relationship between the two countries, guided by the spirit of harmonized interests and shared risks.

He called for greater solidarity and cooperation to contribute to advancing the Viet Nam–China Comprehensive Strategic Cooperative Partnership and the Viet Nam-China community with shared future that carries strategic significance", for peace, stability, cooperation, and development in the region and the world.

The Prime Minister urged the business communities of both countries to continue playing their role as a bridge and a key pillar in linking the two economies and nations, for mutual development and benefits.

The opportunities for bilateral cooperation remain vast, especially in areas such as green economy, digital economy, circular economy, and knowledge-based economy, he noted.

Jonathan Choi, Chairman of the Hong Kong-based Sunwah Group cum Chairman of VinaCapital Investment Fund said, Viet Nam is one of the fastest-growing economies in Southeast Asia and the world, with its strategic position increasingly elevated.

The Vietnamese Government's forward-looking policies in infrastructure, green economy, and financial technology are drawing growing interest and investment from Chinese enterprises, he emphasized.

With strong support from the leadership of both countries, Viet Nam and China are increasingly demonstrating their strengths in areas such as industrial coordination, technological innovation, capital linkage, and regional cooperation, he added.

Choi affirmed that the two countries have great potential for deeper cooperation in key areas such as infrastructure, high technology, green energy, and electric transportation, adding that China stands ready to support Viet Nam in developing an international financial center.

Prime Minister Pham Minh Chinh witnesses the signing ceremony of nine memoranda of understanding on cooperation between both sides' businesses, Tianjin, China, June 24, 2025 - Photo: VGP

In 2024, Viet Nam maintained its position as China's largest trading partner in ASEAN and its fourth-largest trading partner globally. Bilateral trade reached US$205.2 billion in 2024, up 19.3 percent from 2023. In the first five months of 2025, the figure amounted to US$92.9 billion, up 18.7 percent year-on-year.

As of December 31, 2024, China was the sixth largest out of 148 countries and territories investing in Viet Nam, with 5,111 valid projects worth US$30.83 billion.

In 2024 alone, China led in the number of newly licensed projects with 955, and ranked third out of 110 investors in terms of capital, contributing US$4.73 billion. In the first five months of 2025, China ranked third in newly registered capital, with 453 projects totaling US$1.81 billion.

Viet Nam welcomed 3.74 million Chinese visitors in 2024, a 114 percent increase compared to 2023 and accounting for 21.26 percent of total international arrivals, ranking second only behind South Korea.

In the first five months of this year, there were 2.36 million Chinese tourist arrivals to Viet Nam, accounting for 25.4 percent of all international visitors and making China the largest source of tourists to the country during this period.

At the forum, delegates focused on the potential and opportunities for cooperation in developing infrastructure, modern financial services, and enhancing production capacity based on green energy, smart manufacturing, and innovation.

On this occasion, the Prime Minister witnessed the signing ceremony of nine memoranda of understanding on cooperation between both sides' businesses./.