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VIETNAM ROLLS OUT RED CARPET FOR CHINESE INVESTORS
The Vietnamese Government always welcomes Chinese firms to land investments in the country, Prime Minister Nguyen Xuan Phuc has affirmed. He made the statement while hosting a reception for leaders of major Chinese groups operating in finance, construction and infrastructure development on November 4 as part of his visit to China to attend the first International Import Expo of China (CIIE 2018) on November 4-5.
PM Phuc spoke highly of the Chinese corporations’ business achievements in China and many foreign countries.
The Chinese businessmen lauded Vietnam’s socio-economic development while affirming that they will continue investment and business expansion in finance, insurance, banking, energy and transport infrastructure in Vietnam.
They expressed their hope that the Vietnamese Government and relevant authorities will create favourable conditions for them to participate in large projects in the country.
Vice Chairman of Ping An Trust Song Chengli said that his corporation holds strengths in finance, insurance, banking and investment with total asset of 6 trillion yuan (US$870 billion).
The group is in the world’s top 500 enterprises and ranks 7th among the global leading financial giants, he said, adding that he is interested in Vietnam’s mechanisms in protecting foreign financial firms who join Vietnamese market, especially those investing in local credit organisations.
Chairman of China Greenland Zhang Yuliang expressed his pleasure to meet PM Phuc in Shanghai, saying that his firm has cooperated with many great groups in the world and it has a total asset worth US$150 billion.
He said that Vietnam is a potential market with great cooperation opportunities, especially in agriculture, adding Vietnamese farm produce and food are also positively welcomed in the Chinese market.
For his part, PM Phuc spoke highly of these groups’ plans to invest and expand investment in Vietnam.
He applauded the fields that Chinese firms want to pour cash into Vietnam, including agriculture, food production, finance and transport infrastructure development.
The PM asked representatives from Vietnamese ministries and sectors to collect opinions and proposals from Chinese firms and then arranging working sessions to discuss how to realise their business ideas.
With its current development pace, from now to 2020, Vietnam needs US$25 billion per year for infrastructure development, PM Phuc said, noting that this is a promising land for international investors, including China, to cultivate, as it is one of Vietnam’s priorities in the country’s socio-economic development.
He expressed his hope that Chinese firms will further promote imports of Vietnamese agro-forestry-fishery products in the coming time.
The circular economy will open up business opportunities worth US$ 4.5 trillion by 2030, creating hundreds of millions of new jobs, helping businesses reduce the risks of material scarcity and fluctuation of resource prices, and contribute to realizing the Agenda 2030 on sustainable development.
The Ministry of Industry and Trade (MoIT) has proposed a VND100 trillion (US$4.31 billion) preferential credit package for the development of the country’s support industry.
A large number of companies from Europe, the Republic of Korea, Japan, and China are choosing to invest in building manufacturing facilities in Vietnam, promising a boost to the development of the industrial property segment.
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