The Belt and Road Initiative is opening more cooperation opportunities between Vietnam, China, and regional markets.

At last week’s eighth Belt and Road Summit in Hong Kong, Vietnamese Minister of Planning and Investment Nguyen Chi Dung said that Vietnam-China cooperation in this initiative is connecting China and Southeast Asia.

“Vietnam shares land and sea borders and is one of China’s major trading partners, as a bridge between China and Southeast Asian countries. Therefore, cooperation between Vietnam and China within the Belt and Road Initiative (BRI) framework is meaningful in promoting regional cooperation and connectivity.”

Currently, Vietnam’s Ministry of Planning and Investment (MPI) and China’s National Development and Reform Commission are promoting the conclusion of negotiations on the connectivity plan between the ‘Two Corridors, One Belt’ framework and the BRI, while the friendly relations between the two countries are increasingly improving, political trust is firmly consolidated, economic cooperation and connection have been strengthened significantly.

To strengthen the performance of the BRI, Minister Dung proposed to boost sharing information, experiences on developing a digital and green economy, and new models like international trade free ports, smart border gates, and cross-border economic cooperation zones.

“We should accelerate the cooperation and development of transport linking China and Vietnam, and other regional countries, especially railway, as well as facilitating trade activities,” the minister emphasised.

Leaders of some businesses like Sunwah Group, Swire Pacific, and Jardine Matheson met with Vietnamese government officials to find out more investment and cooperation opportunities in Vietnam.

With the remaining available land in the inner of Ho Chi Minh City, Hong Kong-based property developer Sunwah is gradually completing the prime Sunwah Pearl and Sunwah Tower 2 ventures, and the group wants to deploy the Sunwah complex in Hoc Mon district next year.

Meanwhile, Swire Pacific, which acquired Coca-Cola Vietnam early this year, highly appreciated the potential in Vietnam. “Vietnam is one of the most promising countries in Asia and offers significant growth potential for the company in the long term,” said Patrick Healy, chairman at Swire Coca-Cola.

Minister Dung welcomed investors from Hong Kong and beyond to Vietnam based on harmonised benefits, shared risks, equality, and mutual benefit for both sides and respecting international law.

“We call for such investors in some areas that both sides are interested in like innovation, digital transformation, high technologies, financial services, logistics, and human resources, and help local firms to level up in global supply chains,” Dung emphasised.

At the two-day BRI event, 17 MoUs were also signed by companies from New Zealand, Malaysia, Vietnam, Indonesia, Thailand, and Kazakhstan, expanding the scope of cooperation among participating countries and regions.

Since 2016, the summit has become a gathering place for senior government officials, representatives of international organisations, business leaders, and experts. It was initiated by China in 2013 to promote regional cooperation and connectivity in transportation, finance, trade, and human connections.

Vietnam Investment Review