Strengthening Cooperation of Vietnam and Chinese Hangzhou Businesses

2:44:49 PM | 1/11/2019

On October 25, a delegation of 20 Chinese Hangzhou businesses, led by Mr. Ma Xiao Cai, Vice President of China Innovation Alliance, paid a working visit to the Vietnam Chamber of Commerce and Industry (VCCI) to promote Vietnam - China economic and trade cooperation ties in sanitary equipment, tourism, garment and textile, healthcare, food, construction, energy and communication, and investment in equitized enterprises.

Speaking at the Vietnam-Chinese Hangzhou Business Meeting, VCCI Vice President Doan Duy Khuong said, in the past years, Vietnam's economy has achieved stable growth and attracted foreign investors. China is among the top 10 largest trade and tourism partners of Vietnam. For its part, Vietnam is also China's No. 1 trading partner in the ASEAN region.

“The Government of Vietnam has introduced many incentive policies and facilitated foreign businesses, including Hangzhou and Chinese, to invest in high-tech projects and sustainable development projects,” said Dr. Khuong said.

Ms. Do Quynh Nga, Deputy Director of the Northern Investment Promotion Center, the Foreign Investment Department under the Ministry of Planning and Investment, informed Chinese businesses that “The Vietnamese government issued many supporting policies to promote green energy development and make solar energy a key industry. Therefore, Chinese businesses can boost investment in this area in the near future.”

Speaking highly of the investment environment in Vietnam, Mr. Ma Xiao Cai, Vice President of China Innovation Alliance, said, “Vietnam, after adopting the opening and renewal policy, has economic and trade ties with more than 200 countries and territories. The Government of Vietnam always strives to improve the business environment and the investment environment to ensure the interests of foreign investors. This is a good signal to create an environment for healthy cooperation and competition among businesses.”

“Entering a new phase, the cooperation opportunity for Hangzhou and Vietnam is huge. To seize this opportunity, the two sides will strengthen investment cooperation for mutual benefit. We will continue to work with VCCI and investment promotion agencies in Vietnam to strengthen direct cooperation, with a focus on trade, investment and tourism cooperation,” he confirmed.

At the seminar, Chinese Hangzhou businesses had the opportunity to directly present their difficulty in equity investment in Vietnamese companies. Thereby, Vietnam's management agencies will be able to provide the best conditions for Chinese companies to access equity investment information.

Currently, VCCI is building a public information portal for local business and investment environment and investment projects, hoping that it will be an information gateway to connect and expand business cooperation opportunities of foreign invested enterprises with Vietnamese partners.

In addition, Chinese businesses can participate in investment promotion programs, seminars, and business forums coordinated by VCCI in cooperation with its partners in China to directly exchange information and meet with Vietnamese firms seeking foreign investment.

Giang Tu