Beijing (VNA) – Vietnamattaches great importance to and prioritises economic, trade and investmentties with China, stated President Tran Dai Quang at a seminar on Vietnam-Chinaeconomic and trade cooperation in Beijing on May 12 which drew nearly 500 businessesfrom both countries.

The President, who is on afive-day visit to China, expressed hope that the two countries will makelong-term cooperative plans to bring into full play each country’s strengthsand integrate deeply into the global value chain.

He suggested the two countries’business communities drive their trade and investment ties, thus helpingconsolidate bilateral relations.

In terms of investment, the Stateleader said Vietnam hopes to receive more investment from China, especially inhi-tech projects in infrastructure, mechanics, electronics, pharmaceuticals,support industry and agriculture.

Vietnam hopes Chinese enterprisesand investors pay attention to environmental protection, labourers’ interestsand social welfare in the country, he added.

Aiming for 100 billion USD inbilateral trade turnover, Vietnam wants more of its processed agriculturalproducts and seafood, electronic and consumer products to access the Chinesemarket. It will also facilitate China’s export of technological products, spareparts and consumer products.

President Quang affirmed thatVietnam is willing to create favourable conditions for Chinese enterprises todo business and invest in Vietnam.

The State President highlightedthat over recent years, China has always been the largest trade partner ofVietnam with two-way trade reaching nearly 72 billion USD in 2016.

Vietnam is a gateway for China toother markets as well as the top trade partner of China in ASEAN, he noted,adding that China is also one of the ten largest investors in Vietnam with totalinvestment of 11.2 billion USD.

Vietnam has also become increasinglypopular among Chinese tourists thanks to various air routes between the twocountries, he said.

China has expanded the scale ofpreferential credit for Vietnam in industry, energy and infrastructure, addedthe President.

As a founding member of the AsianInfrastructure Investment Bank, Vietnam believes that many infrastructureprojects will be implemented in Vietnam in the future.

President Tran Dai Quangunderscored Vietnam’s efforts in speeding up comprehensive reforms as well asindustrialisation and modernisation, efforts which have borne fruit.

After nearly 30 years of high andstable growth, Vietnam has become an economy worth more than 220 billion USD,while running as an open economy with trade scale 1.6 times GDP.

The country’s internationalintegration is also progressing with a network of new generation free tradeagreements that help expand its development.

Vietnam aims to continueimproving its investment environment and to enhance national competitivenesswith the private and foreign-invested sectors an important drivers of development,he stated.

The State President underscored that Vietnam will use allresources while building a firm foundation for its value chain to become amodern industrial country, paving the way for green growth and sustainabledevelopment.

Opening the event, Chinese VicePremier Wang Yang lauded the economic, trade and investment achievements andpotential between the two countries.

He affirmed that China willcontinue encouraging its businesses to invest in Vietnam and will support Vietnameseinvestors in China.

He also proposed the two sidesstrengthen connections for development, while deepening economic, trade andinvestment ties and promote collaboration in increasing production capacity.

During the event, the twocountries’ enterprises signed several cooperation agreements in milkdistribution, rice plant construction and tourism.-VNA