This information was unveiled at the Vietnam - China Trade Forum and Exchange in Ho Chi Minh City. Held by VCCI-HCM in cooperation with ASEAN - China Centre and the Commerce Department of Jilin Province (China), the event aimed to update information on the Chinese market, thus helping boost Vietnam’s trade and investment cooperation with China in general and with Jilin Province in particular.
Delivering opening remarks to the forum, Mr Vo Tan Thanh, Vice President of VCCI and Director of VCCI - HCM, provided detailed information on recent trade and investment cooperation between Vietnam and China. Specifically, the two-way trade value exceeded US$93.6 billion in 2017, accounting for 22 per cent of Vietnam's total trade. The figure amounted at US$47.7 billion in the first six months of 2018, and expected to top US$100 billion in the year. China will be Vietnam's first trading partner to make this record.
As of the end of April, China ranked seventh out of 126 countries and territories investing in Vietnam, with nearly 1,900 projects and US$12.5 billion of investment capital. Mr Thanh said, Chinese investors are among investors with the highest amount of capital surplus. Plus with the current trend of investment expansion and shift of Chinese companies, investment flows from China will continue to be channelled into ASEAN countries in the coming time, in which Vietnam is considered the most attractive destination. “What is important to Vietnam is to attract the right investors and make the most use of funds from China,” heemphasised.
China has risen to become the second largest economy in the world and the largest economy in Asia, said Li Yuan, Director of the China-ASEAN Centre. Financially capable and dynamic Chinese companies are constantly expanding their business and investment operations in many countries around the world, including Vietnam. In addition to cultural and customs similarities, Vietnam and China are importantly supplementary, especially with geographical position good for economic, commercial and investment development. That is why Vietnam is always on the list of top partners that Chinese investors want to expand cooperation with.
Sharing the same views with Mr Li Yuan, Mr Bo Yin Chao Lu, Secretary of the Party Committee of Jilin Province, said, businesses in China generally and in Jilin Province particularly have always paid attention to boosting Vietnam - China cooperation and investment programmes in recent years. Chinese and Jilin businesses desire to build a solid bilateral cooperation platform to cooperate with Vietnamese localities in potential fields such as infrastructure, energy and agriculture.
Mr Bo Yin Chao Lu added that, with the aim of elevating bilateral cooperation towards impressive new milestones in economic, trade and investment cooperation between Jilin and Vietnam, Jilin Province will boost cooperation with Vietnam in many potential fields and directing its big corporations to invest in Vietnam. “I hope that the Government of Vietnam will provide favourable conditions for Jilin businesses to survey and deploy investment projects. For its part, Jilin Province always opens the door wide to welcome Vietnamese companies to invest in the province, and promises to actively support Vietnamese companies to enjoy the best environment,” he noted.
My Chau
Vietnamese
