Enhancing Vietnam – China Business Cooperation

Source: Pano feed

At the VCCI Head Office in Hanoi, Dr Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), hosted a reception meeting with Mr Gan Lin, Vice Governor of the People’s Government of Sichuan Province, China. On this occasion, the guest invited Dr Loc and Vietnamese business delegations to attend the 14th Western China International Fair (WCIF).


Vice Governor Gan said WCIF has been an important annual trade fair in Chengdu City, Sichuan Province since 2000 to service western China development strategy. The 14th Western China International Fair is scheduled to take place from October 23 to 27, 2013 on an exhibition campus covering 180,000 square metres. This event will be also incorporated with many other important gatherings like the 6th Western China International Cooperation Forum, the 6th Interpretation Conference for Western China Investment, the 8th China – Europe Trade and Investment Forum, and the 4th Western China International Financial Forum.


The exhibition is the big festival that displays an overview of socioeconomic development achievements and potentials in the western region. Moreover, this is a good opportunity to strengthen regional and international trade cooperation.


Mr Gan Lin added that the exhibition has growing influence and draws the participation of government leaders from many countries and representatives of international organisations. Trade and economic achievements generated by the exhibition are clearer. The 13th WCIF opened in September 2012 attracted more than 80,000 visitors from 88 countries, incorporated 105 events, concluded 1,590 contract signatures at a total value of 1,025.6 billion yuan.


The exhibition has also played important roles in expanding foreign affairs, deepening regional cooperation, and developing open economies in the western region, and even the entire country.


VCCI President Loc thanked the Sichuan leader for inviting VCCI and Vietnamese businesses to attend this important event, adding that VCCI will widely inform Vietnamese enterprises to register this event and hope Sichuan leaders will facilitate Vietnamese businesses to attend the exhibition.


According to VCCI, China has become the largest trade partner of Vietnam since 2004. The two-way trade turnover reached over US$15 billion in 2007 and over US$19 billion in 2008, completing three years ahead of schedule the target of US$15 billion in 2015 set by the two countries’ leaders. Since then, the bilateral trade revenue has kept going up.


In 2012, the bilateral trade value increased 15 percent, with import and export growing 11 percent and 17 percent, respectively. The two sides will strive to bring the two-way trade turnover to US$60 billion in 2015.


Chinese investors started investing in Vietnam since August 1999 with the first two projects valued at US$15.35 million, including the Sat Market in Haiphong City and a Chinese restaurant in Hanoi. Particularly, from January 1, 2012 to December 12, 2012, Chinese investors invested US$302.24 million in 69 new projects and added US$42.61 million for 16 projects. As of November 20, 2012, China had 891 valid investment projects in Vietnam with a total registered capital of over US$4.68 billion, ranking 14th out of 96 countries and territories investing in Vietnam. They primarily invested in processing, manufacturing and mining industries (accounting for over 70 percent of projects and approximately 60 percent of investment capital). They also invested in services, forestry, agriculture, seafood processing, health and education. In general, Chinese projects have small scale, averaging US$2 million each.


To further facilitate Vietnamese and Chinese enterprises to explore markets and connect business, VCCI has signed 23 memorandums of understanding and cooperation agreements with various Chinese trade promotion agencies like China Council for the Promotion of International Trade (CCPIT) Guangdong, CCPIT Gansu, CCPIT Hebei; Government Zhuang Autonomous Region of Guangxi, CCPIT Hainan; China International Trade Promotion Committee; Hong Kong Chamber of Commerce; CCPIT Dalian; Macau Trade Promotion Agency; CCPIT Zhejiang; CCPIT Yunnan; Guangxi Department of Commerce; CCPIT Guangdong; CCPIT Sichuan; CCPIT Guangdong; Government of Hainan Province; and CCPIT Jiangsu.


As part of cooperation agreements with Chinese trade promotion agencies, VCCI regularly receives Chinese business delegations visiting Vietnam to explore the market, meet and exchange information with Vietnamese partners, coordinates with partners to organise seminars and business talks with Chinese business delegations from various provinces and cities like Beijing, Zhejiang, Guangdong, Guangxi, Wuhan, Dalian, Yunnan, Shandong and Fujian. To date, VCCI in collaboration with Chinese partners and Vietnamese agencies has organised nearly 50 meetings and business seminars in Hanoi. At the same time, every year, Vietnam – China Business Forum also organises many theme-based business delegations to China to survey markets in various provinces and cities like Guangdong, Guangxi, Zhejiang, Dalian, Yunnan, Shandong and Fujian.


Besides, VCCI has organised many business delegations accompanying Vietnamese State leaders on their working visit to China and receive business delegations accompanying Chinese leaders on their working visit to Vietnam. During their trips, VCCI organises business forums with the aim of promoting bilateral trade relations.


Quynh Chi




Đăng ký: VietNam News