The Deputy Prime Minister asked Shenzhen to share the experience of private economic development

At the Leadership of Shenzhen City (Guangdong) on ​​the occasion of China on March 18-19, Deputy Prime Minister Nguyen Chi Dung said that Vietnam became a developing country with high income in 2030 and high-income developed country in 2045.

Accordingly, Vietnam is expected to maintain two -digit growth by making the private sector become the most important economic growth motivation, besides increasing digital transformation, science and technology.

The Deputy Prime Minister proposed Shenzhen to continue cooperating and exchanging experiences on private economic development, how to increase links between economic areas, specific policies for free trade areas and special economic zones.

Shenzhen is currently a modern economic center, China’s largest industrial and commercial city. Shenzhen Special Economic Zone was founded first in China in 1980, in Guangdong province, bordering Hong Kong. This special economic zone acts as a pioneer in testing China’s innovation and opening policies.

Last year, Shenzhen GDP reached 3,680 billion yuan (about 500 billion USD), with the investment rate for research and development equal to 6.46% of GDP, among the highest group in the country. Shenzhen is like a Silicon Valley of China and is home to many leading technology businesses such as Huawei, Tencent, BYD …

Deputy Mayor of Shenzhen Dao Vinh Han affirmed that Vietnam was the largest trading partner of Shenzhen in ASEAN. He said the city desires to increase the exchange and cooperation between local authorities, businesses and organizations of the two countries, especially in 4 areas including high quality development, industry, trade – investment and tourism.

Regarding the development experience, the leader of the Shenzhen Gulf of Ecological Science and Technology Zone and the Commission for Reform and Development of Shenzhen City said that the operator should develop mechanisms to encourage businesses to increase investment for research and development, promote market, legal and internationalization of business environment.

Representatives of the Group of Innovation and Investment of Shenzhen said that the State should detect, identify potentials and arrange resources for small businesses in strategic and essential fields such as science and technology, innovation, smart production, new energy, health … In parallel, the management agency must implement mechanisms to control and manage risks in the process of investment for enterprises.

And Professor Dao Nhat Dao, Chairman of the Center for Special Economic Zone Research (Shenzhen University) mentioned a number of development experiences such as opening and international integration, persevering in economic reform, improving the business investment environment, focusing on developing science and technology and innovation …

Chinese partners affirmed that they would continue to share experiences, support Vietnam to build an innovative innovation ecosystem, expand investment and business in Vietnam. They also plan to deploy new mechanisms and models on investment cooperation with partners in Vietnam.