At the forum (Source: VNA)Beijing (VNA) – The China-Vietnam investment promotion forum took place in Beijing, China, on September18.
The event was jointly hosted bythe China-ASEAN Business Council (CABC), a delegation from Vietnam’snorthern mountainous province of Tuyen Quang, and the Vietnamese Embassy inChina.
Addressing the forum, CABC President XuNingning affirmed that China is currently the biggest trade partner of Vietnam,which is the biggest trade partner of China in ASEAN.
In the first eight months of this year, Chinawas the fourth biggest investor in Vietnam, with 176 projects worth 1.27billion USD, tripling the amount of the first half of 2016.
He attributed the investment increase toenhanced political relations, incentives and potential of the two economies,noting Vietnam offers cheap labour force, investment incentives and favourabletraffic network.
Commercial Counsellor of Vietnam in ChinaBui Huy Hoang echoed the CABC President’s view on the growing trade andinvestment cooperation between Vietnam and China in recent years.
He said two-way trade reached 71.9 billionUSD in the first eight months this year, up 20.1 percent year on year, of whichVietnam shipped 27.6 billion USD worth of goods to China, a rise of 16.8percent.
The target of reaching 100 billion USD inbilateral trade this year is completely feasible, Hoang said, expressing hishope that the forum will help Chinese economic and financial institutions, associationsand enterprises understanding more about Vietnam and its investment climate,thus increasing collaboration with Vietnamese partners.
Chairman of the Tuyen Quang People’sCouncil Nguyen Van Son briefed participants about the province’s socio-economicsituation, saying that the province is home to numerous Chinese investmentprojects and those using Chinese technology.
Underlining cooperation potential between hisprovince and Chinese investors, he pledged that Tuyen Quang will create allfavourable conditions for foreign investors, particularly those from China, toimplement their projects in the locality.-VNA
VNA
