Vietnam, Hubei businesses seek cooperative ties
Vietnam, Hubei businesses seek cooperative ties
A Vietnam-Hubei economic and trade seminar was held in Hanoi on August 13, luring more than 60 China-based business representatives.
Vietnam Chamber of Commerce and Industry (VCCI) Vice President Doan Duy Khuong said the seminar is designed to deepen mutual understanding between Vietnam and China, while providing an excellent opportunity for Vietnamese businesses to directly meet potential Chinese partners and seek cooperation opportunities.
According to statistics from Vietnam Customs, the total trade volume between Vietnam and Chine hit US$31.94 billion in the first half of this year, up 17.2% compared to the same period last year. Of that, , Vietnam’s exports to China were US$7.72 billion, up 4.67% and imports were US$24.21 billion, up 21.8%.
Vietnam’s exports include crude oil, coal, computer, telephone, rubber, rice, fruit and vegetables, and seafood to China. Imports consisted of machinery, tools, electronic components, spare parts, garment, steel and fertiliser from the country.
The Ministry of Planning and Investment (MoPI) reports that as of March this year, China invested US$8 billion in 1,112 projects in Vietnam, ranking 9th among 100 foreign investors. Chinese businesses poured US$253 million in 99 projects in the country just last year alone.
Khuong added that China has the highest number of tourists to Vietnam last year, with 1.9 million visitors. Around 700,000 Chinese people came to Vietnam in the first half of 2015.
Gan Rong Kun, Vice Chairman of Hubei province, said Hubei businesses have run projects like Saigon international port, SSIT international seaport, Formosa Plastics Steel Complex, Tra Vinh seaport and Hai Duong thermal power plant in Vietnam- the largest trade partner of Hubei.
