Vietnam-China Economic Cooperation: Toward High Quality, Sustainability, and Harmonized Interests

Vietnamese Ambassador to China Pham Thanh Binh emphasized that, after 75 years of diplomatic relations, Viet Nam–China economic and investment cooperation has entered a new phase, opening extensive opportunities for the business communities of both countries. From strategic infrastructure connectivity and the promotion of balanced trade to the attraction of high‑quality FDI and deeper cooperation in technology, digital and green transitions, these areas constitute the foundations for sustainable growth and the harmonization of long‑term mutual interests. To learn more, our reporter interviewed Ambassador Pham Thanh Binh.

What are the priorities in Viet Nam-China economic and investment cooperation?

Implementing the common perception of the leaders of the two parties and two countries on building a Viet Nam-China Community with a shared future that carries strategic significance under the “6 more” framework, economic and investment cooperation has recently been actively promoted in recent years, becoming a highlight in bilateral relations. On that basis, the two sides have identified the following priority directions for economic and investment cooperation:

First, deepening pragmatic cooperation through major, emblematic projects and strengthening alignment of national development strategies. Priority will be given to infrastructure connectivity — notably standard-gauge railways, expressways, and border-gate facilities. At the Viet Nam–China Business Forum in Tianjin (June 2025), Prime Minister Pham Minh Chinh emphasized that the Lao Cai–Ha Noi–Hai Phong, Lang Son–Ha Noi, and Mong Cai–Ha Long–Hai Phong standard-gauge lines are top strategic infrastructure priorities. Their completion will substantially enhance bilateral economic, trade, and investment links.

Second, facilitating trade and expanding mutually advantageous exports. China has been Viet Nam’s largest trading partner for 21 consecutive years and its second-largest export market globally. Meanwhile, Viet Nam is a leading ASEAN trading partner of China and, by 2024, ranked as China’s fourth-largest global trading partners. Relevant Vietnamese and Chinese agencies continue close coordination to resolve export issues affecting agricultural and aquatic products, intensify promotion of Vietnamese goods, and fully leverage trade preferences under ASEAN–China FTA 3.0 and the Regional Comprehensive Economic Partnership (RCEP). Joint initiatives to develop smart border gates, border economic cooperation zones, and upgrading or opening new border-gate pairs will further support stable, balanced, and sustainable bilateral trade growth.

Third, attracting high-quality Chinese investment and expanding cooperation in emerging sectors and promoting deeper collaboration in science and technology, digital and green transformation. Under the Politburo’s Resolution No. 57 on breakthroughs in science, technology, innovation, and national digital transformation,  Viet Nam aims to rank  among the world’s top 30 countries in innovation by 2045. Meanwhile, China is promoting the development of new quality productive forces driven by technological innovation. Therefore, the two sides possess significant complementary potential, with Viet Nam’s needs aligning with China’s strengths in capital, technology, management, research and development, and training. Moreover, China’s experience in wind and solar power aligns with Viet Nam’s energy transition goals; cooperation in renewables will support sustainable development commitments and the establishment of green supply chains that meet evolving international environmental standards.

Prime Minister Pham Minh Chinh and Premier Li Qiang co-chair Vietnam-China Business Forum, Hanoi, October 2024

Which sectors have the potential to attract new-generationFDI from China, ensuring transparency, sustainability, and balanced interests?

Viet Nam remains an attractive destination for major Chinese investors, with registered Chinese FDI totaling USD 3.88 billion in 2024 and USD 3.13 billion in the first 8 months of 2025. China is Viet Nam’s third-largest investor and ranks first in the number of new projects. In light of global economic trends and shifts in the global value chain, the following three sectors present strong potential to attract high‑quality Chinese investment:

First is investment in high‑technology and smart manufacturing. Chinese investment in Viet Nam is progressively shifting from labor‑intensive production to higher‑value, environmentally friendly manufacturing. The marked improvement in investment quality indicates that Chinese investment in Viet Nam is not merely increasing in volume but the trend of high-quality development cooperation between the two countries is also very positive.

Second is investment in emerging industries and knowledge‑intensive sectors including such as big data, cloud computing, internet of things, biomedical industry, digital payment services, etc. Under the Politburo’s Resolution No. 57, Viet Nam is establishing breakthrough mechanisms and policies to develop new productive forces. China is among the leading countries in cultivating new high‑quality productive forces, notably through AI applications, industrial automation, and smart manufacturing. The synergy between China’s technological capabilities and Viet Nam’s dynamism, creativity, and development ambitions will foster the creation of high‑value products and services.

Third is investment in sustainable infrastructure and green transition. Viet Nam has substantial demand for clean energy infrastructure—particularly in renewable generation—and in transport infrastructure, including railways, airports, seaports, and highways, as well as industrial parks and economic zones infrastructure. Chinese enterprises can notably partner with Vietnamese counterparts to modernize digital infrastructure, develop green transport systems, and build electric‑vehicle charging and related support infrastructure.

To uphold transparency, sustainability, and balanced interests, investment projects should: comply with international environmental standards; employ state‑of‑the‑art, environmentally sound technologies; promote deeper participation of Vietnamese enterprises across value chains to increase the proportion of localization and domestic value‑addition; and promote the development of complete supply and production chains within Viet Nam.

Do you have a message for the business communities of Viet Nam and China?

On the occasion of the 75^th  Anniversary of diplomatic relations (1950–2025) and the Viet Nam–China People-to-People Exchange Year 2025, and in pursuit of the common perception to build a Viet Nam–China Community with a shared future that carries strategic significance, I convey to business communities of Viet Nam and China the following message under the theme: “Long‑term cooperation vision, spirit of innovation, social responsibility and sustainable development.”

First, the business communities of both countries should adopt a long‑term strategic vision, align cooperation with global value chains, and prioritize partnerships in production, research and development, knowledge exchange, and technology transfer.

Second, reinforce collaboration and linkages in science and technology, innovation, digital transformation, green transition, and the circular economy.

Third, nurture the aspiration to contribute and cultivate a commitment to social and environmental responsibility by adhering to advanced international standards on labor, environment, and corporate governance, thereby contributing to the shared prosperity of the peoples of both countries.

Source: Vietnam Business Forum