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Commenting on Hu's speech, Loc said: "We are impressed by the speech. It expresses China's strategic thoughts in economic development and international cooperation, and strong responsibility for the global economic development."

The speech, which outlines major economic situations and cooperation orientations in the Asia-Pacific region, emphasizes the need of narrowing development gap among regional economies, aiming to ensure stable growth, Loc said.

The president also talked about China's economic achievements and guidelines on cooperation with other economies, helping APEC businesspeople work out better international cooperation plans, he said.

"China has attached importance to promoting science and technology, considering them momentum for economic development and closer international cooperation on the basis of win-win relations, " he stated.

Regarding cooperation between Vietnamese and Chinese companies, Loc said: "We have fostered cooperation in the fields of border trade and small and medium enterprises under the strategic partnership basis... Strengthening cooperation with China helps Vietnam access suitable science and technology, serving its industrialization and modernization."

Besides, the closer cooperation helps Vietnam not only intensify import and export activities and foreign investment attraction, but also learn development experiences, especially in the establishment of big economic groups, he added.

To enhance cooperation between Vietnamese and Chinese firms, the two countries have established the Vietnam-China Business Forum with the participation of more than 1,000 enterprises, he said, noting that that is an effective forum for information exchange and trade promotion. "The cooperation potential among Vietnamese and Chinese businesses is great."

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