VN, CHINA PROMOTE ECONOMIC AND COMMERCIAL LINKAGES

The Viet Nam-China economic promotion forum was jointly held by the Chinese Embassy in Viet Nam, the Vietnamese Foreign Ministry, the Ha Noi municipal People’s Committee, and the Viet Nam Chamber of Commerce and Industry (VCCI) on December 20 in Ha Noi.

This is the first time the Boao Forum for Asia (BFA) works with Viet Nam to host the forum, said Mr. LI Baodong, the BFA Secretary General of the Boao Forum for Asia.

According to the Secretary General, the BFA was founded on February 27, 2001 with a view to formulating an economic forum for Asia to beef up exchanges and economic cooperation in the region and support each other.

BFA offers a playing field for leaders and enterprises to share ideas in trade, investment, finance, and banking.

Mr. Vu Tien Loc, VCCI Chairman said that since 2004, China has been the largest trade partner of Viet Nam over the last 13 years. The neighboring country is also Viet Nam’s biggest export market in computers, spare parts, rubber, coal, rice.

As of November 2018, China engaged in 2,102 FDI projects in Viet Nam by pouring US$ 13.05 billion in such areas as processing industry, energy, real estate, garments, textiles, and services.

However, Viet Nam is still running increasing trade gap with China. Mr. Loc proposed China import more made-in-Viet Nam products to improve trade balance.

Chairman of the Ha Noi municipal People’s Committee Nguyen Duc Chung said that the local authorities always attaches importance to cooperating with the Chinese business community in favor of win-win benefits.

So far, Ha Noi houses 425 FDI China-invested projects with a total investment of US$ 517 million. Chinese enterprises set 100 representative offices in Ha Noi.

Source: VGP