Processing wood-chips in Phu Loc District in the central province of Thua Thien - Hue. Each year, enterprises in the province export US$12-13 million worth of wood-chips to China and Japan. — VNA/VNS Photo Quoc Viet

HCM CITY (Biz Hub) — HCM City regards China as one of its most important trade partners and is ready to provide advantageous conditions to attract investors and traders from that country, city authorities have said.

Speaking at a forum meant to boost economic co-operation between HCM City and Zhongshan and Chaozhou cities in Guangdong Province in the city yesterday, deputy chairman of the People's Committee, Le Manh Ha, said that city has been at the forefront in strengthening ties with China, especially Guangdong.

Since 2009 the city and Guangdong have organised many events related to different sectors ranging from culture to economy, he said, adding that the city welcomes Chinese companies seeking to do business.

Vo Tan Thanh, director of the Viet Nam Chamber of Commerce and Industry's HCM City office, said trade between HCM City and China was worth over US$8.3 billion last year.

The city's exports accounted for more than $2.6 billion, a year-on-year decline of 17 per cent. Its imports rose by 19 per cent.

Executives from more than 30 companies from Zhongshan and Chaozhou attended the forum. Their firms are mostly in strongly developing sectors like gas stove manufacture, chemicals, decorative lights, wooden furniture, pottery, and steel.

They were apprised about the city's potential and investment opportunities and met local entrepreneurs.

The Chinese cities did the same and promised all support to Vietnamese companies investing there.

Several contracts were signed between companies from the two countries.

Guangdong is now an important economic partner for Viet Nam. Last year trade between them was worth more than $8.8 billion, a 43 per cent rise year-on-year. — VNS