Chinese firms seek investment opportunities in Vietnam’s Mekong Delta
Chinese firms seek investment opportunities in Vietnam’s Mekong Delta
Dozens of Chinese enterprises have visited Vietnam’s Mekong Delta region in search of opportunities to expand their investments in the region as most of their projects have been mainly developed in Long An, Tien Giang, Hau Giang, and Ben Tre Provinces.
Can Tho City on Tuesday hosted an event to connect over 30 Chinese enterprises with potential Mekong Delta-based partners.
Speaking at the event, Nguyen Phuong Lam, director of the Can Tho branch of the Vietnam Chamber of Commerce and Industry, said the Mekong Delta is Vietnam’s primary food and foodstuff production hub.
The government has invested heavily in the region’s infrastructure, creating opportunities for foreign enterprises, particularly those from China.
Chinese businesses have so far invested in 401 projects in the region with a total registered capital of US$2.4 billion, accounting for a mere 10 percent of private Chinese investment in Vietnam.
In the Mekong Delta, Chinese-invested projects are mainly limited to Long An, Tien Giang, Hau Giang, and Ben Tre Provinces, while Can Tho City, an economic hub of the region, and other provinces have seen only a modest number of projects sponsored by Chinese enterprises.
Lam added that the Mekong Delta region had advantages in both agriculture and agricultural product processing, as well as newly-emerging sectors that match Chinese enterprises’ investment demand, such as energy, apparel, information technology, and logistics.
Over the past few years, Can Tho has reported dramatic economic growth and increasingly close economic ties with China, according to a representative of the Chinese Business Association in Vietnam.
The city’s planning for the 2021-30 period with a vision to 2050 will pave the way for foreign enterprises to make investments in the city.
The association pledged to intensify the connection with the agriculture sector in Can Tho and the Mekong Delta as a whole in order to boost the export of agricultural by-products to China.
Processing enterprises from the two sides have promoted cooperation in livestock and processing technology, supported market expansion, and fostered exports, especially shipments of agricultural by-products, from the Mekong Delta to China, the representative added.
Wei Huaxiang, Chinese Consul General in Ho Chi Minh City, said Can Tho's strength lies not only in its location in the Mekong Delta but also in its Can Tho University and other universities, which will supply quality human resources.
The city has also developed a transport system so that it can support enterprises looking to make investments in the area, Wei added.
He affirmed that the Chinese Consulate General in Ho Chi Minh City will connect enterprises of the two countries so that they can better understand each other and enhance Chinese enterprises’ investment in Can Tho and the Mekong Delta region.
