Vietnamese Ambassador to China Pham Thanh Binh highlighted the transformative potential of Hainan Free Trade Port (FTP) during a recent address, emphasizing its role in advancing high-quality bilateral trade between Vietnam and the Chinese mainland. The envoy described the FTP's newly operational special customs procedures as a "new step in China's opening up," signaling enhanced economic collaboration across ASEAN.
As Hainan's largest trading partner, ASEAN members are poised to benefit from streamlined cross-border logistics and reduced tariffs under the FTP framework. Ambassador Binh noted opportunities in agriculture, digital services, and green energy sectors, aligning with Vietnam's priorities in sustainable development. "This initiative strengthens regional supply chains while fostering innovation," he stated.
Analysts suggest the FTP could further integrate Southeast Asian markets with the Chinese mainland, particularly as cross-regional investments rise. The port's policies, including simplified customs clearance and tax incentives, are attracting overseas investors, with Vietnamese businesses exploring partnerships in Hainan's tech and tourism sectors.
