"To lift cooperation to a new height, the governments and business communities of both sides must focus on expanding trade and investment cooperation in potential and complementary fields for mutual support, like high-grade infrastructure construction project bidding, financial and banking services, tropical agricultural products, rubber, textiles and electronics," said Mr Xia Geng, Vice Governor of People's Government of Shandong Province, China at the Seminar on Vietnam - Shandong (China) Business Exchange. The seminar was co-organised by the Ministry of Industry and Trade of Vietnam and Shandong Province on the working visit of Shandong Province to Vietnam.
Speaking at the workshop, Mr Nguyen Cam Tu, Vietnamese Deputy Minister of Industry and Trade, said that with a dynamic market, increasingly improved investment and business environment, plus a prime geographic location, rich natural resources and a young creative labour force, Vietnam is really an ideal, promising address for Chinese companies in general and Shandong companies in particular to find investment and business opportunities. He however noted that the two business communities should effectively utilise favourable conditions in trade, especially Vietnam’s advantages like internationally compatible legal system, increasing integration into the world economy, and its role as a gateway into Southeast Asian markets.
|
Since 2004, China has been the leading trade partner of Vietnam. The two-way trade turnover reached US$41.18 billion in 2012, up 15.35 percent over 2011. Particularly, the trade revenue with Shandong province was US$2.42 billion in 2012, up 17 percent against 2011. In the first six months of 2013, the trade turnover between Vietnam and Shandong totalled US$1.25 billion, up 4.6 percent year on year.
Shandong Province mainly exports garments, textiles, steel, electronics, rubber tyres and transport means to Vietnam, while importing food products, natural rubber, crude oil, machinery, equipment, garments, textiles and seafood from the Southeast Asian country.
|
He affirmed that the Ministry of Industry and Trade of Vietnam is willing to cooperate closely with the Shandong provincial government to further promote cooperation, while proposing that the Shandong government inform, encourage and support major prestigious enterprises of the province to boost investment and trade with Vietnam, as well as facilitate Vietnamese enterprises to attend trade events in Shandong.
After briefly introducing development prospects of Shandong province as well as appreciating the relatively potential investment cooperation between Vietnam with China in general and Shandong province in particular, Vice Governor Xia Geng suggested that businesses of both sides strengthen cooperation in strong potential fields like high-grade infrastructure construction project bidding, financial and banking services, tropical agricultural products, rubber, textiles and electronics to boost bilateral commercial and industrial investment cooperation in the future. Especially as for agriculture, he said the two sides should not stop at cultivation, livestock breeding and seed selection cooperation, but focus on cooperation in intensive research and modern science - technology transfer.
At the seminar, Deputy Minister Tu and Vice Governor Xia Geng also witnessed the signing of four agreements worth US$110 million between companies of the two sides, including a coal-fired thermal power plant construction and household electronic appliance project invested by DR - AZ Group in Vietnam, a tyre construction project in Vietnam by Qingdao Sailun Group, a shaft production joint venture invested by Long Teng Xiazhe Company and Xingjia Vietnam, and a dragon fruit purchase project between Kien Sinh Vietnam Company and the Goodfarmer Fruits and Vegetables Company.
Kim Ngoc
Vietnamese
