Vĩnh Phúc to boost trade and investment with Chinese locality

Vĩnh Phúc to boost trade and investment with Chinese locality

Vĩnh Phúc is home to 106 Chinese-invested projects valued at $1.7 billion, primarily in automobile, motorcycle and electronics manufacturing.

An overview of the meeting. — VNA/VNS Photo

Vĩnh Phúc wants to enhance trade and investment cooperation with Hekou county of China’s Yunnan Province, an official of the northern Vietnamese province has said.

Hoàng Long Biên, head of the Vĩnh Phúc Industrial Zones Authority, made the remark while meeting with a Hekou delegation led by Yu Yang, Secretary of the Hekou county Party Committee and head of the Yunnan Pilot Free Trade Zone - Honghe Area, on March 18.

The Hekou delegation visited Vĩnh Phúc to explore local investment opportunities.

During the meeting, Biên provided an overview of Vĩnh Phúc’s socio-economic landscape, highlighting its strong appeal as an investment magnet thanks to its favourable location with a well-developed transportation network, a robust education system that supplies high-quality human resources, an optimal investment and business environment, and modern and well-integrated industrial park infrastructure.

Currently, Vĩnh Phúc hosts 17 industrial parks, including nine fully operational and five others undergoing infrastructure development. The province has attracted 1,308 investment projects, including 477 foreign direct investment (FDI) ones from 20 countries and territories, with a total capital of US$8.5 billion. In particular, it is home to 106 Chinese-invested projects valued at $1.7 billion, primarily in automobile, motorcycle and electronics manufacturing.

Biên said Vĩnh Phúc wishes to strengthen transport connectivity with major economic hubs in China via Hekou. He also expressed his hope for enhanced cooperation in tourism, education, cultural exchanges, and manpower training. Additionally, he proposed strengthening connectivity via trade, farm produce and tourism fairs.

He reaffirmed the province's commitment to creating the best possible conditions for Hekou investors and businesses to invest in local industrial parks, particularly in electronics and textile manufacturing.

He expressed confidence that this partnership will continue to develop and deliver mutual benefits to businesses and residents in both localities.

For his part, Yu noted he hopes to boost partnerships in the fields matching both sides' advantages. He also pledged to facilitate Vĩnh Phúc enterprises in exploring investment opportunities in the county.

He highlighted that Hekou spans 1,313 sq.km, with a population exceeding 100,000. In 2024, its budget revenue totalled CNY14.5 billion ($2 billion), ranking it third in Yunnan province. As a key trade gateway between China, Việt Nam and ASEAN, Hekou plays a crucial role in the Việt Nam – China economic corridor. The county has notable economic strengths in cross-border trade, electronics and textile manufacturing and cross-border economic cooperation zones.

During the meeting, business representatives from Hekou county and Vĩnh Phúc officials discussed investment policies, trade promotion activities and business cooperation between Vietnamese and Chinese enterprises.

Earlier, the Hekou delegation toured the Bình Xuyên II Industrial Park to gain a better understanding of Vĩnh Phúc’s industrial production. 

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