Communist Party of Vietnam (CPV) Nguyen Phu Trong will pay an official visit to China from October 30 to November 2.

Vietnam is expected to have the highest economic growth in ASEAN this year

Xu Ningning, executive chairman of the China-ASEAN Business Council and chairman of the RCEP Industry Cooperation Committee, said that in the first nine months of this year, Vietnam's economy and society recovered positively, with an economic growth rate of 6.5%, of which the third quarter increased by 13.67% year-on-year, and the COVID-19 was also effectively controlled. The Vietnamese government forecasts that Vietnam's economy will grow by 8% this year and 6.5% in 2023. Vietnam is expected to enjoy the highest economic growth rate in ASEAN this year. The Vietnamese government expects inflation to be 4% this year and around 4.5% in 2023.

In recent years, the Vietnamese government has attached great importance to the development of green economy and digital economy, and issued a series of development strategies, policy measures and action plans. Vietnam's new Investment Law came into effect on January 1, 2021.

Vietnam has signed 15 free trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP).

China and Vietnam have strong economic and trade complementarity, and the demand for cooperation has increased

Xu Ningning said that China has been Vietnam's largest trading partner, largest import market and second largest export market for many consecutive years. Vietnam is China's largest trading partner in ASEAN. From January to September 2022, China's trade volume with Vietnam reached US$171.94 billion, a year-on-year increase of 2.4%, China's exports to Vietnam reached US$108.72 billion, a year-on-year increase of 6.6%, and China's imports from Vietnam reached US$63.22 billion, a year-on-year decrease of 4.2%. Among China's trade with RCEP member countries, China has the largest trade surplus with Vietnam at $45.5 billion.

The scale of Chinese investment in Vietnam continues to expand. As of June this year, China's investment in Vietnam reached US$22.31 billion, ranking sixth among the 139 countries and regions investing in Vietnam. Investment is mainly concentrated in processing and manufacturing industries, especially electronics, mobile phones, computers, textiles and clothing, machinery and equipment.

Xu Ningning pointed out that strengthening economic, trade and investment cooperation between the two countries conforms to the objective law of economic development and the common needs of both sides. Mr.Xu suggests:

Promote further cooperation between the Belt and Road and the Two Corridors and One Economic Circle, and  continuously explore the potential of economic and trade cooperation between the two countries;
On the premise of ensuring the safety of epidemic prevention, jointly maintain the stability of the supply chain and smooth trade between the two countries;

Strengthen industrial cooperation, build a new industrial chain with complementary advantages, and promote industrial upgrading;

Enterprises of the two countries operate legally and compliantly in economic and trade cooperation, make good use of free trade agreements, and work together to develop the markets of the two countries, regional markets and broader international markets;

While sharing business opportunities for cooperation, enterprises of the two countries should jointly fully reflect the value and deeds of entrepreneurs in the good-neighborly and friendly development of the two countries.

Histroy of Friendship 

In 2021, Xu Ningning, Executive President of the China-ASEAN Business Council and Chairman of the RCEP Industry Cooperation Committee, met with the Vietnamese Ambassador to China to discuss and enhance China-Vietnam trade and investment cooperation.

In August 2022, the Commercial Counsellor of the Embassy of Socialist Republic of Vietnam in Beijing was invited to attend the event hosted by the RCEP Industry Cooperation Committee and Yunfu City, Guangdong Province, and Xu Ningning had a friendly conversation with the counsellor.

In 2021, at the Embassy of Socialist Republic of Vietnam in Beijing, Xu Ningning talked with the outgoing Commercial Counsellor and the incoming Commercial Counsellor.

In 2021, the then Commercial Counsellor of the Embassy of Socialist Republic of Vietnam in Beijing visited the China-ASEAN Business Council. Xu Niingning had a talk with the counsellor.

At the Embassy of Socialist Republic of Vietnam in Beijing in 2020, Xu Ningning met with the Vietnamese ambassador to China to talk about economic and trade cooperation between the two countries and the current investment of Chinese enterprises in Vietnam.

In Beijing, in 2019, at the Embassy of Socialist Republic of Vietnam in Beijing, Xu Ningning met with the Vietnamese Ambassador to China for discussing and promoting China-Vietnam economic and trade cooperation, including China-Vietnam Digital Economy Cooperation (2020 is the China-ASEAN Digital Economy Cooperation Year), industry and enterprise cooperation, etc.

In Beijing in 2019, at the invitation of the Vietnamese Ambassador to China, Xu Ningning attended the Vietnamese National Day reception, during which he talked with the then Commercial Counselor of the Embassy of Socialist Republic of Vietnam in Beijing.

In Beijing in 2019, the then Commercial Counselor of the Embassy of Socialist Republic of Vietnam in Beijing visited the China-ASEAN Business Council, and Xu Ningning met to talk about matters related to enhancing trade and investment between Chinese and Vietnamese enterprises.

In Beijing in 2018, Xu Ningning and the then Commercial Counsellor of the Embassy of Socialist Republic of Vietnam in Beijing talked about new business opportunities in Vietnam, Chinese enterprises entering Vietnam and opening up a broader international market through Vietnam.

In Beijing in 2018, at the Embassy of Socialist Republic of Vietnam in Beijing, Xu Ningning mourned the then President of Vietnam Tran Dai Quang, who died of illness, accompanied by the then Vietnamese Ambassador to China and the Commercial Counselor of the Embassy of Socialist Republic of Vietnam in Beijing.

In 2017, Xu Ningning met with the then Commercial Counsellor of the Embassy of Socialist Republic of Vietnam in Beijing to exchange views on the new development of China-Vietnam economic and trade cooperation, and discuss the promotion of cooperation between CABC and the embassy.

In Beijing in 2017, Xu Ningning had a talk with the then Commercial Counsellor of the Embassy of Socialist Republic of Vietnam in Beijing.

In 2017, at the China-ASEAN Business Council, Xu Ningning talked with the then Vietnamese ambassador to China at the China-ASEAN Business Council and the ASEAN Beijing Committee.

In 2015, the then Vietnamese Ambassador to China visited the China-ASEAN Business Council and met with Xu Ningning for friendly exchanges and pragmatic promotion of China-Vietnam economic and trade cooperation.

In 2015, at the Vietnamese Embassy in Beijing, Xu Ningning met with the then Vietnamese Commercial Counsellor to analyze the current situation of China-Vietnam economic and trade cooperation and discuss the cooperation between enterprises of the two sides.

In 2013, the China-ASEAN Business Council held the 4th China-ASEAN Industry Cooperation Conference. During the conference, Xu Ningning had a friendly conversation with the then Vietnamese ambassador to China.

In 2013, the then Minister Counsellor, Economic Counsellor and Commercial Counsellor of the Embassy of Socialist Republic of Vietnam in Beijing visited the China-ASEAN Business Council, where Xu Ningning met them. The two sides had friendly exchanges on Sino-Vietnamese economic and trade cooperation.

In 2012, the then Commercial Counsellor of the Embassy of Socialist Republic of Vietnam in Beijing visited the China-ASEAN Business Council, where Xu Ningning met with him. They discussed how to strengthen economic and trade cooperation between Chinese and Vietnamese enterprises under the framework of the China-ASEAN Free Trade Area.

In 2011, the Embassy of Socialist Republic of Vietnam in Beijing held a National Day reception to celebrate the 66th anniversary of the founding of the Socialist Republic of Vietnam, and Xu Ningning was invited to attend and speak with the then Commercial Counselor.

In 2011, Xu Ningning and the then Vietnamese ambassador to China.

In 2010, Xu Ningning had a friendly conversation with the then Vietnamese ambassador to China and Vice Chairman of the Vietnam-China Friendship Association.

In 2006, a reception to celebrate the 61st anniversary of the founding of the Socialist Republic of Vietnam was held at the Embassy in Beijing. Xu Ningning had a talk with the then Commercial Counsellor.

In 2005, Xu Ningning and the then Vietnamese ambassador to China.