At the invitation of Chinese Premier Li Qiang and Founder and Executive Chairman of the World Economic Forum (WEF) Klaus Schwab, Prime Minister Pham Minh Chinh paid an official visit to China and attended the 14th WEF Pioneers Annual Meeting from June 25-28.

This is Prime Minister Pham Minh Chinh's first official visit to China, and also the first official visit by a Vietnamese Prime Minister to China in the past 7 years, continuing the regular exchanges and contacts between senior leaders of the two Parties and two countries in recent times.

Bringing Vietnam-China relations into depth and substance

In the context of complicated and unpredictable developments in international relations and a serious recession in the world economy due to the impact of the Covid-19 pandemic, the official visit of Prime Minister Pham Minh Chinh is of great significance, an opportunity for the two countries' senior leaders to discuss in depth measures to comprehensively implement the results and common perceptions reached during the official visit to China by General Secretary Nguyen Phu Trong (October 30 - November 1, 2022), making efforts to promote mutually beneficial cooperation in all fields, and controlling disagreements well, contributing to deepening the Vietnam-China comprehensive strategic cooperative partnership in more and more substance.

Over the past time, the overall relationship between the two countries has maintained a stable development trend and achieved many positive results. In 2022, high-level exchanges and contacts will be maintained closely in a flexible manner, most notably the very successful official visit to China by General Secretary Nguyen Phu Trong (October 30 - November 1); in addition, the two General Secretaries of the two Parties also regularly exchange letters and telegrams on the occasion of important events of the two countries and the relationship between the two countries.

President Nguyen Xuan Phuc sent a congratulatory letter to President Xi Jinping on the occasion of China hosting the 2022 Beijing Winter Olympics. Prime Minister Pham Minh Chinh and Chinese Premier Li Keqiang had two phone talks (January 13, 2022 and September 19). The two sides successfully held the 14th meeting of the Vietnam-China Bilateral Cooperation Steering Committee in person (July 13). Exchanges and cooperation on the Party, National Assembly, Fatherland Front channels, between ministries, sectors, localities, and people's organizations of the two countries have been regularly implemented.

Since the beginning of 2023, the two sides' senior leaders have maintained flexible forms of exchange and contact: The two Parties' General Secretaries exchanged congratulatory letters on the occasion of the Year of the Cat 2023, exchanged high-level congratulatory messages on the 73rd anniversary of the establishment of diplomatic relations between the two countries (January 18); Chinese President Xi Jinping (March 2) sent a congratulatory message to President Vo Van Thuong on his inauguration; Vietnamese senior leaders (March 10-12) sent congratulatory messages to Chinese senior leaders elected at the 2023 Two Sessions Session; Prime Minister Pham Minh Chinh had a phone call with Chinese Premier Li Qiang (April 4), National Assembly Chairman Vuong Dinh Hue had an online conversation with Chairman of the National People's Congress of China Zhao Leji (March 27); Comrade Truong Thi Mai, Politburo member, Standing member of the Secretariat, Head of the Central Organization Commission visited and worked in China (April 25-28); Member of the Politburo and Director of the Office of the Central Foreign Affairs Commission of China Wang Yi sent a congratulatory message to comrade Tran Luu Quang on the occasion of his appointment as Deputy Prime Minister and Chairman of the Steering Committee for Vietnam-China Bilateral Cooperation.

The two sides' levels, sectors and localities actively restored delegation exchange activities after China adjusted its epidemic prevention policies and held meetings, visits and work sessions in the two sides' localities.

Regarding trade , in 2022, the import-export turnover between Vietnam and China reached 175.56 billion USD (up 5.47%), of which our exports reached 57.7 billion USD (up 3.18%), imports reached 117.86 billion USD (up 6.63%), and we had a trade deficit of 60.17 billion USD (up 10.18%). According to Chinese data, the total import-export turnover between Vietnam and China in 2022 reached 234.9 billion USD, up 2.1% (much lower than the growth of 19.7% in 2021). Of which, exports to China reached 87.9 billion USD, down 4.7%; imports from China reached 146.9 billion USD, up 6.8%. Vietnam had a trade deficit with China of 59 billion USD. Vietnam continues to hold the position of China's largest trading partner in ASEAN and China's fourth largest trading partner by single country (after the US, Japan, and South Korea).

In the first 5 months of 2023, Vietnam's total import-export turnover with China reached 61.5 billion USD, down 14.5% over the same period in 2022. Of which, Vietnam's export turnover to China reached 20.3 billion USD, down 6.8%, Vietnam's exports to China accounted for 15% of Vietnam's total exports to the world. Vietnam's import turnover from China reached 41.2 billion USD, down 17.9%, Vietnam's imports from China accounted for 32.8% of Vietnam's total imports from the world. Vietnam's trade deficit with China was worth 20.8 billion USD, down 26.5%.

Regarding investment , in the first 5 months of 2023, China's investment reached 1.08 billion USD with 156 projects, making it the 3rd largest FDI investor in Vietnam (after Singapore and Japan). Accumulated to May 20, 2023, China maintained its 6th position out of 143 countries and territories investing FDI in Vietnam with 3,720 valid projects, total registered capital reaching nearly 24.9 billion USD.

Regarding tourism , China has been the leader in the number of tourists to Vietnam for many years. Since February 2020, due to the Covid-19 outbreak, tourism cooperation between the two countries has been temporarily interrupted. From March 15, 2023, China officially resumed allowing tourist groups to travel to Vietnam, reopened some commercial flights between localities of the two countries (Hanoi-Beijing) and adjusted visa, entry and exit, and medical quarantine policies for foreigners coming to China.

Regarding cooperation in the fight against the Covid-19 pandemic , China is one of the countries that provides the most and fastest vaccines to Vietnam; up to now, it has provided us with more than 50 million doses of Sinopharm vaccine in non-refundable and commercial aid; committed to providing Vietnam with 26.5 million yuan to purchase medical supplies for epidemic prevention (5 million yuan has been transferred to Vietnam); Chinese localities (Guangxi, Yunnan, Guangdong...) also support a large amount of medical supplies for Vietnamese localities.

With the above cooperation results, Prime Minister Pham Minh Chinh's official visit to China has many important meanings, demonstrating the importance and active coordination between the two countries.

Therefore, according to Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu, the visit is expected to be a great success and continue to contribute to the increasingly stable development of the relationship between the two Parties and the two countries of Vietnam and China, bringing practical benefits to the people and peace and stability to the region.

Vietnam and international issues

WEF is a non-profit organization operating in the form of public-private partnership, founded in 1971 by Professor Klaus Schwab, headquartered in Geneva, Switzerland, currently has about 700 members and partners who are leaders of the world's leading corporations in various fields.

WEF events attract the participation of the world's leading political, business, cultural, social, research and academic leaders to shape agendas at the regional and global levels.

In addition to organizing conferences, WEF establishes public-private partnership platforms with the participation of stakeholders (Governments, businesses, experts, international organizations, etc.) to provide policy advice to the government. This is one of the first forums to discuss the Fourth Industrial Revolution and is currently implementing a number of specific and substantive initiatives such as the Fourth Industrial Revolution Center in the United States, India and Japan and the Cybersecurity Center with the participation of 92 partners.

The cooperative relationship between Vietnam and WEF began in 1989, right at the time when the economic reform process began. This is an important dialogue forum between the Vietnamese Government leaders and the world's leading corporations, helping to suggest ideas for economic reform, while providing Vietnam with opportunities for investment and domestic economic development.

Over the past 30 years, senior leaders of Vietnam have regularly attended the WEF Annual Meetings in Davos, Switzerland and East Asia. Over the past 30 years, Vietnam has always demonstrated dynamism, actively proposing new ideas and implementing practical cooperation plans.

In January 2020, the two sides completed the Cooperation Agreement on “Developing a resilient Vietnamese economy for the future” (2017-2019 period). The two sides are moving towards signing the Vietnam - WEF Cooperation Agreement for the 2023-2026 period to make cooperation more practical and effective.

Since 2000, Vietnam has attended the WEF Davos Annual Meeting at the Prime Minister level four times (2007, 2010, 2017 and 2019) (other years usually attended at the Deputy Prime Minister level); attended the WEF ASEAN Meeting (before 2016, it was WEF East Asia) at the Prime Minister level four times (2012, 2013, 2014 and 2017) (other years usually attended at the Deputy Prime Minister level).

Vietnam and WEF have coordinated to organize many important conferences, including the first Vietnam-WEF National Strategic Dialogue (October 29, 2021) held in both in-person and online formats with the theme "Strengthening public-private partnerships: A key driver of comprehensive recovery and sustainable, inclusive and innovative development" . The dialogue is considered the most successful national strategic dialogue that WEF has coordinated with a country to organize, in terms of participation level, content, timing and organization.

Vietnam has hosted many WEF conferences, including the 2018 WEF ASEAN Conference in Hanoi from September 11-13, the first WEF-Mekong Conference on October 25, 2016 in Hanoi and the WEF East Asia Conference from June 6-7, 2010 in Ho Chi Minh City.

During this visit, Prime Minister Pham Minh Chinh will attend the WEF Tianjin, organized by the WEF in coordination with the Chinese Government. This is the second largest conference after the WEF Davos (Switzerland).

This year's 14th conference, themed "Enterprise: The Engine of the Global Economy", includes more than 100 sessions, focusing on issues such as growth adjustment, energy and raw material transition, nature and climate protection, post-pandemic consumption, China in the global context, and innovation application.

According to Vietnamese Ambassador to China Pham Sao Mai, Prime Minister Pham Minh Chinh's participation in this Conference aims to promote socio-economic development achievements, convey a major message about Vietnam's development goals, viewpoints, and orientations; grasp new issues and trends of the world economy, exchange development and governance thinking at the global, regional, and national levels in the context of profound changes in the world economy, thereby enhancing Vietnam's role and voice in global issues; continue to promote the increasingly effective and substantive Vietnam - WEF cooperation relationship; strengthen cooperation with global and regional corporations, especially Chinese enterprises, to continue to consolidate a favorable international environment, attracting external resources to serve the country's development.