Vietnam and Guangdong to strengthen economic and trade ties

Deputy Minister of Finance Nguyen Duc Tam this week received a working delegation from Guangdong-Hong Kong-Macao Greater Bay Area Development Leading Group Office, at the MoF headquarters in Hanoi.

Deputy Minister of Finance Nguyen Duc Tam at the reception

The delegation was led by Zhu Wei, standing deputy director of the Office and deputy director of Guangdong Development and Reform Commission.

Speaking at the meeting, Deputy Minister Tam noted that 2025 holds special significance in the traditional friendship between China and Vietnam, as the two countries celebrate the 75^th anniversary of establishing diplomatic relations.

2025 has also been designated by top leaders of the two countries as the ‘Vietnam-China Year of People-to-People Exchanges’.

Accordingly, since the beginning of the year, cooperation and exchange activities between the two countries have been actively promoted at various levels and in diverse forms-most notable was the state visit to Vietnam by General Secretary and President of China, Xi Jinping, from April 14 to 15.

The reception overview

The MoF deputy chief highlighted that the current working visit by the Guangdong delegation contributes to concretising the common understandings reached by the top leaders of both countries in recent times.

Deputy Minister Tam expressed appreciation for the goodwill and cooperation proposals from the Guangdong-Hong Kong-Macao Greater Bay Area Development Leading Group, especially regarding the enhancement of economic and trade ties, the establishment of Vietnam-Guangdong integrated industrial parks, and the promotion of production supply chain linkages between Vietnam and China.

After sharing an overview of Vietnam’s recent macroeconomic developments, Deputy Minister Tam declared that Vietnam placed high importance on advancing cooperation with the Greater Bay Area-particularly in industries leveraging 4.0 technologies, including ICT, digital technology, nanotechnology, biotechnology, new materials, pharmaceuticals, agricultural high-tech applications, environmental technology, and clean energy.

“Vietnam is making significant efforts to attract foreign investment in research, innovation, entrepreneurship, and technology transfer,” Tam said.

“Priority has been given to projects with high-tech content, advanced management, significant added value, and widespread socioeconomic impact, ensuring local firms have an active role in global value chains and contributing to economic restructuring and deeper participation into global production networks.”

Deputy Minister Tam also noted that like many cities that have established sister-city relationships with Vietnamese localities, Guangdong has long been a focal point for trade and investment promotion by diverse Vietnamese localities. This highlights the substantial potential for cooperation between Guangdong and various Vietnamese regions.

Given the strengths and potential of both sides, Deputy Minister Tam suggested that Guangdong and Vietnam enhance collaboration in key areas such as the development of integrated industrial parks, agricultural trade promotion and export manufacturing, infrastructure investment- particularly in railway systems- and cooperation in science, technology, and digital transformation.

Zhu Wei, standing deputy director of Guangdong-Hong Kong-Macao Greater Bay Area Development Leading Group Office, expressed his gratitude to Deputy Minister Nguyen Duc Tam and leaders of MoF’s affiliated units for sharing valuable insights into strengthening economic and trade cooperation, industrial park development, and production chain integration between the two countries, especially with Guangdong province.

“There is a growing interest among Chinese enterprises in investing in Vietnam, with a strong desire to encourage cooperation with Vietnamese localities in infrastructure development, economic linkages, investment, and trade,” Wei said.

Concluding the meeting, Deputy Minister Tam expressed his confidence that Zhu Wei’s visit to Vietnam would open up many new opportunities for cooperation between Vietnam and the Guangdong-Hong Kong-Macao Greater Bay Area, especially Guangdong province, thereby further fostering the bilateral partnership between the two countries.

Source: VIR