Vinh Phuc (VNA) – Vinh Phuc wants to enhance trade and investment cooperation with Hekou county of China’s Yunnan province, an official of the northern Vietnamese province has said.
Hoang Long Bien, head of the Vinh Phuc Industrial Zones Authority, made the remark while meeting with a Hekou delegation led by Yu Yang, Secretary of the Hekou county Party Committee and head of the Yunnan Pilot Free Trade Zone - Honghe Area, on March 18.
The Hekou delegation visited Vinh Phuc to explore local investment opportunities.
During the meeting, Bien provided an overview of Vinh Phuc’s socio-economic landscape, highlighting its strong appeal as an investment magnet thanks to its favourable location with a well-developed transportation network, a robust education system that supplies high-quality human resources, an optimal investment and business environment, and modern and well-integrated industrial park infrastructure.
Currently, Vinh Phuc hosts 17 industrial parks, including nine fully operational and five others undergoing infrastructure development. The province has attracted 1,308 investment projects, including 477 foreign direct investment (FDI) ones from 20 countries and territories, with a total capital of 8.5 billion USD. In particular, it is home to 106 Chinese-invested projects valued at 1.7 billion USD, primarily in automobile, motorcycle, and electronics manufacturing.
Bien said Vinh Phuc wishes to strengthen transport connectivity with major economic hubs in China via Hekou. He also expressed his hope for enhanced cooperation in tourism, education, cultural exchanges, and manpower training. Additionally, he proposed strengthening connectivity via trade, farm produce, and tourism fairs.
He reaffirmed the province's commitment to creating the best possible conditions for Hekou investors and businesses to invest in local industrial parks, particularly in electronics and textile manufacturing.
He expressed confidence that this partnership will continue to develop and deliver mutual benefits to businesses and residents in both localities.
For his part, Yu noted he hopes to boost partnerships in the fields matching both sides' advantages. He also pledged to facilitate Vinh Phuc enterprises in exploring investment opportunities in the county.
He highlighted that Hekou spans 1,313 sq.km, with a population exceeding 100,000. In 2024, its budget revenue totalled 14.5 billion CNY (2 billion USD), ranking it third in Yunnan province. As a key trade gateway between China, Vietnam, and ASEAN, Hekou plays a crucial role in the Vietnam – China economic corridor. The county has notable economic strengths in cross-border trade, electronics and textile manufacturing, and cross-border economic cooperation zones.
During the meeting, business representatives from Hekou county and Vinh Phuc officials discussed investment policies, trade promotion activities, and business cooperation between Vietnamese and Chinese enterprises.
Earlier, the Hekou delegation toured the Binh Xuyen II Industrial Park to gain a better understanding of Vinh Phuc’s industrial production./.
Vinh Phuc urged to take more drastic actions for stronger growth
Vinh Phuc's GRDP growth for 2021–2025 is projected at 7.4%, with total economic output expected to reach 190 trillion VND (7.45 billion USD) by 2025, 1.53 times higher than in 2020. Annual per capita GDP is forecast to rise to 148 million VND, while labour productivity is improving at an average of 11% per year.
