In order to further deepen economic and trade cooperation between Vietnam and China in the spirit of the results of General Secretary Nguyen Phu Trong's visit to China in November 2022, receiving the invitation of Secretary of the Hai Provincial Party Committee South, China, Comrade Nguyen Hong Dien, Member of the Central Executive Committee of the Communist Party of Vietnam, Minister of Industry and Trade of Vietnam led a working delegation with 30 Vietnamese businesses to visit and work in Hainan from April 9 to 11, 2023.
Minister Nguyen Hong Dien spoke at the Vietnam - China Trade Promotion, Investment and Economic Cooperation Conference (Hainan)
This is also the first working delegation of the Ministry of Industry and Trade with the participation of a large number of Vietnamese businesses to visit China immediately after the pandemic to support the business communities of the two countries in finding and making the most of opportunities after the pandemic. Vietnam and China have defeated the Covid-19 pandemic. At the same time, learn about preferential policies in economic and trade development - currently an advantage of Hainan province to enhance connectivity, trade, investment and business cooperation, contributing to improving trade relations. Vietnam - China trade is increasingly developing stably, balanced and sustainable.
Within the framework of the working program in Hainan, the Ministry of Industry and Trade coordinated with the People's Government of Hainan province, China to organize the "Vietnam - China Trade, Investment and Economic Cooperation Promotion Conference ( Hainan)” in person on April 10, 2023 at Hainan International Exhibition Center in Haikou city. Through this Conference, Vietnamese and Chinese businesses in general and Hainan province in particular have the opportunity to exchange, connect and promote cooperation to promote official import and export of agricultural and aquatic products. of Vietnam to China, especially in the context that China has officially opened its doors to allow many types of agricultural and aquatic products with strengths in Vietnam to be exported to the Chinese market in 2022 and take advantage of opportunities. The Chinese Congress lifted measures to prevent the Covid - 19 epidemic from January 8, 2023, creating favorable conditions for Vietnam's export activities to the Chinese market.
The conference was chaired by comrade Nguyen Hong Dien, member of the Central Executive Committee of the Communist Party of Vietnam, Minister of Industry and Trade and comrade Phung Phi, member of the Central Executive Committee of the Communist Party of China, Secretary of the Hainan Provincial Party Committee. co-chair.
Attending the Conference, on the Vietnamese side, there were also comrade Tran Van Tam, Chairman of the People's Committee of Ben Tre province; representatives of a number of departments and branches of Ben Tre province; Representatives of functional units under the Ministry of Industry and Trade along with representatives of the Vietnamese Embassy in China and the Vietnam Trade Office/Trade Promotion Office in some localities in China. On the Chinese side, there were leaders of a number of functional agencies of Hainan province, China and representatives of a number of Chinese associations and industries. On the business side, there are about 120 companies and groups producing, importing and exporting in the fields of agriculture, fisheries and a number of other fields from Vietnam and China attending the Conference.
Secretary of Hainan Provincial Party Committee Phung Phi
At the Conference, the Ministry of Industry and Trade of Vietnam and the People's Government of Hainan province (China) introduced the orientation for economic and trade development cooperation between Vietnam and China in general and with Hainan province in particular. At the same time, sharing opportunities and potentials in trade and investment cooperation in the Industry and Trade sector for the Vietnamese and Chinese business communities attending the Conference.
In addition, the two sides also arranged a connection and trade program for businesses of the two countries to create conditions for businesses to exchange and seek cooperation opportunities suitable to the needs of each business to import and export goods. industry, thereby promoting and strengthening economic and trade cooperation between Vietnamese localities and Hainan province (China).
It is a locality with a geographical location very close to Vietnam and is being planned and built by the Chinese Government as the "World's Largest Free Trade Port" and is expected to officially become a Bonded Zone before 2025. , Hainan province in the near future will play a very important role in trade relations between ASEAN - China in general and between Vietnam - China in particular. Therefore, the Vietnam-China Trade, Investment and Economic Cooperation Conference (Hainan) is an opportunity to open up new opportunities and continue to create favorable conditions for Vietnamese and Chinese businesses. Vietnam further strengthens exchanges and cooperation in the fields of trade and investment on the basis of effectively exploiting the advantages and potentials of each Party, thereby actively contributing to promoting economic relations - Vietnam - China trade develops stably, balanced and sustainably.
| Hainan province is a locality located in the south of China with a land area of 32,900 km2. From 1950 to 1988, the area was part of Guangdong province, which was later separated and established as Hainan province and designated a special economic zone.
The population of Hainan province in 2022 will be about 10.2 million people, the province's GDP will reach 681.8 billion Yuan (equivalent to 100 billion USD), and the average GDP per capita will be about 9,800 USD. According to Hainan Customs statistics, Hainan province's foreign trade turnover in 2022 reached 30 billion USD, an increase of 32.3% compared to 2021, of which export turnover reached 10.7 billion USD, an increase of 112%, imports reached 19.3 billion USD increased by 9.4%. According to Hainan statistics, in 2022, import-export turnover between Vietnam and Hainan province (China) will reach 1.35 billion USD, an increase of 56% compared to the same period in 2021. Of which, export turnover Hainan province's exports to Vietnam reached 695.2 million USD, an increase of 171.9%; Hainan province's import turnover from Vietnam reached 658 million USD, an increase of 7.5%, the main items include wood and wood products, metals, minerals... Vietnam is the second largest trading partner. 7 and is the 8th largest import market of Hainan province in 2022. In June 2020, China announced the Hainan Free Trade Port Master Plan, a large-scale plan to turn the entire island province into a Free Trade Port (FTP) – transforming Hainan into the largest special economic zone in China. Policies were designed to reduce Hainan's dependence on traditional industries and services, becoming an important location for trade and investment in China. Hainan province's advantages in attracting foreign investment – Convenient location and quality of life: Hainan has become a famous tourist destination thanks to its special natural advantages and rich tourism resources, including tropical coastal areas and rain forests. Pristine tropics, geothermal hot springs and rich ethnic customs. – Preferential policies: exemption of import tax, value added tax and consumption tax for some types of goods, reduction of corporate income tax to 15% compared to China's 25%, tax exemption on income overseas businesses, One-time pre-tax deduction or accelerated depreciation and amortization for newly purchased assets, partial personal income tax exemption for qualified senior talents who need to work urgently in Hainan… – Global presence: The island has been internationally recognized for hosting major events, including Boao Asia Forum, BRICS Summit, Mekong Cooperation Leaders Meeting – First Lancang and Roundtable Conference on China-Africa Cooperation. Hainan is taking steps to become a successful pilot free trade zone, with some economists arguing that the province could even take the top spot from Hong Kong in the future as a port zone. China's leading free trade./. |
SOURCE: TRADE PROMOTION DEPARTMENT
