BUSI­NESS Room to grow for VN-China trade “

Viet Nam News - - FRONT PAGE -

HCM CITY — Trade be­tween Vieät Nam and China has in­creased dra­mat­i­cally in re­cent years but there is much more room for them to strengthen in­vest­ment and trade ties, the China-Vieät Nam Eco­nomic and Trade Co­op­er­a­tion Fo­rum heard in HCM City yes­ter­day.

Voõ Taân Thaønh, di­rec­tor of the Vieät Nam Cham­ber of Com­merce and In­dus­try’s HCM City of­fice, said China is Vieät Nam’s largest trade part­ner and Vieät Nam is that coun­try’s largest trad­ing part­ner in ASEAN and eighth largest in the world.

Bi­lat­eral trade was worth US$86.7 bil­lion in the first 10 months of the year, an in­crease of 13.6 per cent yearon-year.

“China was Vieät Nam’s third largest ex­port mar­ket in the pe­riod, with the ex­ports be­ing worth $33.48 bil­lion, 26.8 per cent up from the same

pe­riod last year.”

Vieät Nam’s main ex­ports were elec­tronic prod­ucts, com­put­ers and ac­ces­sories, tele­phones, farm pro­duce, footwear, and cam­eras and ac­ces­sories, he said.

“The struc­ture of Vieät Nam’s ex­ports to China has sig­nif­i­cantly changed with a re­duc­tion in ex­port of raw ma­te­ri­als and nat­u­ral re­sources and in­crease in ex­port of pro­cessed goods.”

China was Vieät Nam’s largest source of im­ports ($53.39 bil­lion) dur­ing the pe­riod.

Wei Xichen of the eco­nomic and com­mer­cial sec­tion at the Chi­nese con­sulate in HCM City said in re­cent years China has in­creased in­vest­ment in Vieät Nam, and this is ex­pected to con­tinue in fu­ture.

As of last month, Chi­nese firms had in­vested $13.1 bil­lion, he said.

But the fig­ures still do not do jus­tice to the po­ten­tial, he said.

Shen Wen­jian, deputy gen­eral di­rec­tor of Shenyue Joint In­vest­ment Com­pany, an in­vestor in the China-Vieät Nam eco­nomic and trade co­op­er­a­tion zone in Haûi Phoøng, said, “Vieät Nam has be­come an at­trac­tive in­vest­ment des­ti­na­tion for many in­ter­na­tional in­vestors.”

Nguyeãn Thò Huyeàn Ngoïc, deputy man­ager of the In­vest­ment Pro­mo­tion Cen­tre in the south, said China is the sev­enth big­gest in­vestor in Vieät Nam.

Chi­nese firms have in­vested mainly in man­u­fac­tur­ing (66 per cent), pro­duc­tion and dis­tri­bu­tion of power, gas and water (16 per cent), real es­tate (5.5 per cent), and hospi­tal­ity (4.2 per cent), she said.

She said Chi­nese busi­nesses could find a lot of in­vest­ment op­por­tu­ni­ties in Vieät Nam in ar­eas such as value-added projects, hi-tech and en­vi­ron­ment-friendly projects, large-scale projects, IT, and bio-tech­nol­ogy serv­ing agriculture. — VNS

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