NA Chairman visits China's Shanghai Free Trade Zone

ABO/NDO- National Assembly (NA) Chairman Vuong Dinh Hue on April 11 visited China’s Shanghai Free-Trade Zone (SHFTZ) and met with leaders of the municipal People’s Congress and administration of Shanghai as well as the zone.

Hue, now on an official visit to China, was briefed on the development and outstanding achievements of the SHFTZ, special policies for the zone, as well as the practical experience in applying controlled pilot mechanisms.

Leaders of Shanghai and the SHFTZ described the Vietnamese top legislator’s visit as an important milestone in the cooperation between the Chinese locality and Vietnam.

According to the head of the SHFTZ, the zone, established in September 2013, is becoming the first pilot free trade one of China to realise the country’s policy of opening, multilateralism, and diversification. So far, China has set up 22 such zones.

NA Chairman Vuong Dinh Hue addresses a meeting with leaders of China's Shanghai Free Trade Zone (Photo: VNA).

After more than 10 years of operation, it has become an outstanding economic reform model, contributing to expanding the economic scale of Shanghai and attracting foreign investment.

As of the end of 2022, 84,000 new businesses had been established at SHFTZ.

NA Chairman Hue said he hopes the municipal People’s Congress and administration will continue to share experience with Vietnamese NA agencies in building a mechanism framework for the operations of pilot free trade zones.

Leaders of Shanghai and SHFTZ affirmed that on the foundation of the Vietnam-China joint statement on the building of a with strategic meaning, they will promote economic and trade cooperation with Vietnam, welcome and stand ready to share experience with Vietnamese sectors and localities for common development.

(Source: NDO)