Vietnam, China to Develop Aluminum Industry in Central Highlands

The Vietnam Coal Corporation and Aluminum Corporation of China Limited will join hands in exploiting bauxite and producing aluminum in Central Highland of Vietnam, agreed Vietnamese Deputy Prime Minister Nguyen Tan Dung and Xiao Yaqing, Chairman-cum-Chief Executive Officer of the company yesterday in Hanoi.

 

Dzung expressed that Vietnam wants the Chinese company to share its rich experiences, high techniques with the Vietnamese partner.

 

He agreed with the visitor that the two companies will discuss to draw up a concrete plan in next month.

 

Besides, Dzung and Xiao expressed their hopes to work closely in other fields in the future.

 

Vietnam-China relation has blossomed in recent years, illustrated by regular high-level visits. It was Vietnam's 14th largest foreign investor, with the investment of US$710 million in 346 projects.

 

The two countries expect mutual trade turnover would reach US$10 billion in 2007-2008 and US$15 billion in 2010. Trade between the two sides reached US$5.56 billion in the first eight months of this year, with Vietnam’s exports to China accounted for US$1.8 billion or 32.37 per cent.