HCM City, Guangdong look to stronger trade, investment ties hinh anh 1Illustrative photo (Source: VNA)

HCM City (VNA) – Vietnam’s southern largest economic hub of Ho Chi Minh City and China’s Guangdong province hold a wide range of potentials for stronger trade and investment ties, participants remarked at a conference held in the city on August 18.

Chu Tien Dung, Chairman of the HCM City Enterprises Association, said economic relations between Vietnam and China have been developing positively, laying an important foundation for HCM City’s businesses and their partners in Guangdong to step up trade and investment cooperation in the coming time.

HCM City wants to increase two-way trade value with Guangdong as the city has a lot of advantages in producing electronic equipment and components, wood and wooden furniture, agricultural and aquatic products, garments and textiles.

Meanwhile, Guangdong enterprises have opportunities to export advanced machinery as well as materials used in agricultural and industrial production to the Vietnamese market.

Le Thi Quynh Mai, Deputy Director of the municipal Department of Planning and Investment, said the city wants to cooperate with foreign partners, including those from Guangdong, to develop key industrial sectors, supporting industry, infrastructure, and green and renewable energy.

She stressed that the municipal authorities are working hard to improve the local business and investment climate by accelerating administrative reform and offering tax and land incentives.

Wen Zhi Yao, general secretary of the Guangdong trade promotion association, said Vietnam is an emerging market in Southeast Asia, with various advantages such as steady economic growth, increasing consumption demand, young population, low-cost workforce and rapid development of IT.       

These potentials have turned Vietnam into an attractive destination for Chinese investors to expand their business and investment, he stressed.-VNA