VN, Chinese province talk business

Friday, Aug 03, 2018 08:25

Executives from Vietnamese firms and Jilin Province companies exchange information at a Viet Nam – China business forum in HCM City on August 2. — VNS Photo Xuan Huong

Businesses in China’s Jilin Province seek to invest in and trade with Viet Nam, according to the secretary of the province Party Committee.

Speaking at a Viet Nam-China business forum in HCM City on August 2, Ba Yin Chao Lu said Jilin, situated in the north of China, is the country’s food granary and an important industrial hub.

In recent years, Jilin businesses have expanded investment in Viet Nam, especially in the automobile and agricultural sectors, he said.

Their trade with Viet Nam increased by 8.8 per cent last year, he said.

China’s consul general in HCM City, Wu Jun, said for many years his country has been among Viet Nam’s largest trading partners, and Viet Nam has become its largest trading partner in Southeast Asia.

Jilin is an important gateway for China in the north in its “One Belt One Road” initiative and is strong in automobile production, agriculture, pharmaceuticals, chemicals and energy, which offer great potential for co-operation with Vietnamese firms, he said.

Vo Tan Thanh, director of the Viet Nam Chamber of Commerce and Industry’s HCM City unit, said trade between Viet Nam and China last year topped US$93.6 billion after increasing by 30 per cent, accounting for 22 per cent of Viet Nam’s total trade.

Viet Nam export’s accounted for $35.4 billion, up 61.6 per cent, he said.

“With its similar culture and customs and convenient geographic location, China is always among Viet Nam’s largest market and bilateral trade is expected to reach $100 billion this year.”

At the end of last April, China had ranked seventh out of 126 countries and territories investing in Viet Nam, with over $12.5 billion in nearly 1,900 projects, he said.

Nguyen Huynh Trang, deputy director of the HCM City Department of Industry and Trade, said Chinese firms have invested nearly $158 million in the city to rank 19th out of 98 countries and territories.

Last year, the city’s trade with China was worth over $16 billion, with its exports being nearly $6 billion.

In the first half of this year, their trade increased by 15 per cent year-on-year.

“These figures show signs of growth in investment and trade between the two sides. I believed there is still much more potential for HCM City and Chinese localities, including Jilin Province, to enhance investment and trade ties.”

Ba said: “Jilin will actively guide its leading enterprises to come and invest in Viet Nam, and hopes Viet Nam will create convenient conditions for its business delegations coming to research the country.

“We welcome Vietnamese firms to come to invest in Jilin, and will create the best conditions for them.”

Organised by the VCCI in collaboration with the ASEAN-China Centre and the Jilin Department of Commerce, the forum was followed by a business to business meeting to enable further exchange of information and exploration of business opportunities. — VNS

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