China’s Belt & Road Initiative – Implications for ASEAN/Vietnam
More than 2,000 years ago, China’s imperial envoy Zhang Qian helped to establish the Silk Road, a network of trade routes that linked China to Central Asia and the Arab world. The name came from one of China’s most important exports—silk. And the road itself influenced the development of the entire region for hundreds of years. In 2013, Chinese president Xi Jinping proposed establishing a modern equivalent, creating a network of railways, roads, pipelines, and utility grids that would link China and Central Asia, West Asia, and parts of South Asia. This initiative, One Belt and One Road, comprises more than physical connections. It aims to create the world’s largest platform for economic cooperation, including policy coordination, trade and financing collaboration, and social and cultural cooperation.
The One Belt and One Road initiative could transform trade in Vietnam and around the region. The initiative is arguably China’s most ambitious economic and diplomatic program since the founding of the People’s Republic. The belt is the physical road, which takes one from here all the way through Europe to somewhere up north in Scandinavia. That is the physical road. What China calls the road is actually the maritime Silk Road, in other words, shipping lanes, essentially from here to Venice. It is very ambitious, covering about 65 percent of the world’s population, about one-third of the world’s GDP, and about a quarter of all the goods and services the world moves.
Vietnam and China are cooperating to make China’s One Belt One Road Initiative fit with Vietnam’s Two Corridors and One Economic Circle plan to create more favorable conditions to bolster bilateral trade and investment ties, boost infrastructure development and expand markets. Focus areas include connecting transport infrastructure and facilitating trade among China’s southwestern provinces with Vietnam’s northern cities and provinces via the two corridors of Hai Phong-Hanoi-Lao Cai-Kunming and Hai Phong-Hanoi-Lang Son-Nanning, and the Beibu Gulf economic belt.
At lunchtime on November 29, AmCham welcomes Julian Vella, Asia-Pacific Regional Leader for KPMG’s Global Infrastructure Practice, for a presentation on One Belt and One Road in the Vietnam context.
Julian Vella is the Asia-Pacific Regional Leader for KPMG’s Global Infrastructure Practice. Previously, he developed and led KPMG Australia’s infrastructure practice and was a Board member of KPMG Australia for 6 years. In his current role, Julian travels widely throughout the region working with governments and the private sector to develop and advise on infrastructure programs, projects and assets. He has extensive experience as a lead adviser on a large range of commercial transactions, particularly in the transport and industrial markets sectors. He is an active public speaker on a range of aspects associated with infrastructure.
Event: One Belt and One Road in the Vietnam Context
Date: November 29, 2017
Time: 12:00pm – 1:45pm
Place: Sheraton Hanoi Hotel, K5 Nghi Tam, Tay Ho, Hanoi
Cost: VND 650,000 (members); VND 900,000 (non-members)
Attendees at this event will hear what One Belt and One Road really means, what it needs to become a reality, and why people in Vietnam should take it seriously. Please register your participation in this lunch event by clicking on the button below or by calling the AmCham office at (84) 24.3934.2790.
Please register your participation in this event by clicking on the button below.