Vietnam president to attend 3rd Belt and Road Forum in Beijing

By Huyen Le   October 12, 2023 | 04:29 am PT
Vietnam president to attend 3rd Belt and Road Forum in Beijing
President Vo Van Thuong in Hanoi, April 2023. Photo by VNA
President Vo Van Thuong will lead a high-ranking Vietnamese delegation to attend the 3rd Belt and Road Forum for International Cooperation in Beijing from October 17-20.

The trip will be made at the invitation of General Secretary of the Communist Party of China Central Committee and President of China Xi Jinping, the Ministry of Foreign Affairs said Thursday.

BRI is an initiative implemented by China since 2012, aimed at strengthening trade routes connecting China with Europe, the Middle East and Africa. According to the Chinese Ministry of Foreign Affairs, by the end of 2022, the country has signed 206 cooperation agreements under the initiative with 151 countries and 32 international organizations, implementing about 3,000 projects in many fields with a total investment capital of nearly US$1 trillion.

China hosted the first and second Belt and Road International Cooperation High-Level Forums in 2017 and 2019.

During Chinese President Xi Jinping's visit to Vietnam and participation in the APEC Summit on November 12, 2017, Vietnam and China signed a memorandum of understanding on promoting connections between the Two Corridors, One Belt framework with the Belt and Road Initiative. The two sides are continuing discussions to materialize the MoU.

Vietnam and China relations have achieved positive results in recent times, especially after General Secretary Nguyen Phu Trong's visit to China at the end of last year.

In 2022, bilateral trade turnover increased 5.47% to more than US$175 billion. Vietnam continues to be China's largest trading partner in ASEAN and China's fourth largest trading partner by individual country, after the U.S., Japan, and South Korea.

In the first 9 months of this year, Chinese investment in Vietnam reached nearly $2.1 billion with 478 projects, making it the second largest FDI investor in Vietnam, after Singapore. China maintains the 6th position out of 144 countries and territories investing in Vietnam, with more than 4,000 valid projects and total registered capital of more than $26 billion.

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