Politics

Vietnam, China promote trade ties

Calling for investment in the key sectors of China ’s Qinghai province topped the agenda of a November 4 conference in Ho Chi Minh City on trade and tourism promotion between Vietnam and China .
Calling for investment in the key sectors of China ’s Qinghaiprovince topped the agenda of a November 4 conference in Ho Chi MinhCity on trade and tourism promotion between Vietnam and China .

According to Yu Xiao, deputy head of the QinghaiDepartment of Commerce, the event is among activities to further boostconnectivity between businesses of both countries, creating favourableconditions for them to explore each other’s market and seek partners.

Located in the west of China, Qinghai has enjoyed adeveloped economy with key sectors such as information technology, greenenergy and industry, he said, expressing his hope that through theconference, more businesses from Vietnam and Ho Chi Minh City inparticular will come to the province to study business and investmentopportunities.

Vo Tan Thanh, Director of theVietnam Chamber of Commerce and Industry (VCCI)’s branch in Ho Chi MinhCity , said economic and trade ties between Vietnam and Chinahave saw encouraging progress in recent years.

Hehailed efforts by both sides’ relevant agencies to expand bilateralrelations and create chances for businesses to meet and seekpartnerships.

VCCI alone has signed nearly 30memoranda of understanding and agreements with Chinese organisations tosupport trade exchanges among the two countries' enterprises.

By September this year, two-way trade between Vietnam and Chinahit about 36.24 billion USD, up 31.7 percent over the same period lastyear.

China now has 940 projects in Vietnam with a total registered capital of nearly 5 billion USD.-VNA
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