China's Qinghai Businesses Wish to Do Business with Vietnam

Mr Khuong said Vietnam - China economic and commercial ties are thriving, with the two-way trade turnover topping US$30 billion last year, adding that leaders of the two countries also agreed to strive for US$60 billion of bilateral trade revenues by 2015. He noted that apart from nice political and diplomatic relations, Vietnam and China also have developed economic ties. “I hope that the visit led by Mr Wang Lingjun will contribute to our existing good relationships," said Dr Khuong.

 

He assessed that China’s Qinghai province has potentials in tourism and agricultural cooperation what Vietnam can cooperate in the future.

 

Introducing VCCI, Dr Khuong said this is a trade and investment promotion agency, the biggest general agency that connects businesses and authorities, from central government level to leading businesses in Vietnam. At present, Vietnam has about 500,000 companies and 10,000 largest of them are VCCI members. Many are strong at pharmaceuticals, tourism and animal husbandry.

 

He added that VCCI is now building the Vietnam - China Business Forum which draws the participation of many active and enthusiastic Vietnamese and Chinese companies. Many forum’s members are also policymakers. The active cooperation of Chinese Embassy in Vietnam plays an important part in the formation of the forum.

 

The purpose of this Qinghai business delegation to Vietnam is to explore the market and seek investment and trade cooperation with Vietnamese businesses. “I hope that in the future the two-way trade turnover between Vietnam and China will reach US$60 billion which is also contributed by Qinghai enterprises,” Wang said.

 

Qinghai is a western Chinese province. It is the fourth largest area in China and has a population of about 5.7 million people. The province is famous for ecological tourism, agriculture and livestock, which account for 96 percent of the province area. Qinghai is running10 dominant industries such as new energy, new materials, chemicals, ferrous metals, petroleum, coal, equipment manufacturing, steel, textile, and biology.

“Qinghai organises several annual international trade fairs and exhibitions every year. This Qinghai delegation visit is aimed to invite Vietnamese businesses and VCCI leaders to visit Qinghai, attend exhibition and, on that basis, promote the mutual cooperation relationship,” he added.

 

Dr Khuong said Vietnam and Qinghai have a lot of potentials to exploit but the most important mechanism is to create the exchange of information for mutual understanding. Hence, VCCI and Qinghai can move to sign a cooperation agreement in the shortest time and need to develop mechanisms for enterprises of the two sides to do business together.

 

“In the coming time, at the invitation of Qinghai province, we will have business delegations to visit and sign the cooperation agreement, especially fields engaged in livestock husbandry and food - good fields of cooperation for the two parties. Qinghai province as well as its enterprises need information about the market or partners, VCCI will be willing to help," Dr Khuong said.