Embassy works to foster Vietnam’s economic links with China’s Hebei

Beijing (VNA) – Vietnamese Ambassador to China Dang Minh Khoi made a working trip to Hebei province on March 28-29 to promote economic, trade, investment, and tourism partnerships between Vietnamese localities and Hebei.

Meeting with Hebei Deputy Governor Wang Xiaodong, Khoi said Vietnam and China have made progress in their relations with practical outcomes in terms of economy-trade, culture, education and people-to-people exchange.

He valued Vietnam’s economic, trade and investment ties with Hebei, adding that cooperation potential is enormous.

The ambassador asked provincial leaders to strengthen Hebei’s collaboration with Vietnam in infrastructure building, transport connectivity, and high-quality agriculture. He affirmed that the Vietnamese Embassy in China is ready to act as a bridge linking Hebei with the Vietnamese side.

Introducing his province’s socio-economic development, Deputy Governor Wang said Hebei wants to intensify partnerships with Vietnamese localities, thereby opening up opportunities for both sides to boost links in production and agriculture and set up the foundation for cooperation in more spheres.

The Vietnamese Embassy and Hebei authorities also took this chance to hold an event on economic, trade and investment promotion with the participation of 40 Vietnamese and Chinese businesses.

Ambassador Khoi said Vietnam’s central and local governments pledge to create a favourable and equal business environment for foreign firms, including those from China and Hebei. He welcomes Hebei enterprises’ investment in the fields they have advantages of, especially hi-tech and environmentally friendly projects.

Meanwhile, a representative of Hebei’s department of commerce stressed Vietnam is one of the most important ASEAN economic-trade partners of the province, hoping that stronger economic, trade and investment links will benefit both sides.

Trade turnover between Hebei and Vietnam was 6.83 billion USD in 2016. Hebei’s exports to the Southeast Asian nation include cars and components, steel, and electronic devices. Vietnam mainly exports cotton fibre, natural rubber, and timber to this province.

At the end of 2016, there were 13 Hebei businesses investing in Vietnam with total registered capital of 150 million USD, mostly in automobile, textile-garment, plastics and food industries.

Vietnam is now the sixth largest importer and the biggest ASEAN trade and investment partner of Hebei.-VNA