Vietnam attaches much importance to digital transformation and the development of the digital economy, State President Vo Van Thuong told leaders of China’s ZTE Corporation and Huawei in Beijing on the sidelines of the third Belt and Road Forum for International Cooperation (BRF) on October 19, the Government News has reported.

Receiving Chairman and Executive Director of the ZTE Corporation, Li Zixue, the President recalled his remarks at the BRF, in which he underscored the importance of national-level cooperation engaging governments and businesses in shaping digital institutions, infrastructure, and human resources.

“In that spirit, Vietnam calls for Chinese enterprises, particularly large-scale enterprises with advanced technologies, to invest in or expand their investment in Vietnam,” he said.

Speaking highly of ZTE’s business performance in Vietnam - it is currently a major customer and partner of many telecommunications companies in the country - President Thuong said he hopes it will have stronger and more effective cooperation with Vietnamese businesses in the future.

He reiterated that Vietnam pays due attention to improving its business environment to create more favorable conditions for foreign enterprises and investors doing business in the country.

For his part, Mr. Li thanked Vietnamese authorities for their support for the corporation’s investment and operations in Vietnam over the years.

With its experience, he said ZTE hopes to contribute to the development of Vietnam’s digital infrastructure, thereby strongly supporting its economic development.

On the same day, President Thuong held a reception for Liang Hua, Chairman of Huawei - a leading Chinese group in ICT infrastructure, digital energy, cloud computing, and terminal equipment.

The President praised Huawei achievements in Vietnam and hoped it will further its active and effective cooperation with relevant Vietnamese authorities and businesses to develop digital infrastructure, 5G, broadband, and digital human resources.

Liang said he hopes that with the support and trust of the Vietnamese Government and agencies, Huawei will actively help improve Vietnam’s digital competitiveness.

Huawei wishes to contribute more to the development of the digital economy, digital society, and energy transition in Vietnam, and to assist the country in applying scientific and technological advances in agriculture and the processing industry, he noted.

Chinese investors have so far implemented over 4,000 valid projects with capital of more than $26 billion in Vietnam. In the first nine months of 2023, for the first time, China became the second-largest foreign investor in Vietnam, with total registered capital of $2.9 billion.