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Firms ink deals with China partners   2009-10-21 - Viet Nam News

Twenty-four contracts worth a total of over US$720 million were signed yesterday, October 20, in Ha Noi by businesses from Viet Nam and China's Guangdong province.

As of August, businesses from Guangdong have established 44 companies and representative offices in Viet Nam with a total investment capital of $560 million.

Under the contracts, the enterprises will co-operate in areas such as trade, investment, thermo-electricity, hi-tech equipment, steel, coal, footwear and construction glass.

Secretary of Guangdong Provincial Party Committee Wang Yang's visit to Viet Nam last September and Prime Minister Nguyen Tan Dung's official trip to Guangdong in April had opened a new page for relation's between Guangdong with localities in Viet Nam, said Deputy Prime Minister Pham Gia Khiem.

Trade between Viet Nam and Guangdong reached $3.36 billion last year and $2.67 billion during the first eight months of 2009, a year on year increase of 26 per cent. The two sides are also working together to build an economic trade zone worth $4 billion in the northern port city of Hai Phong.

As of August, businesses from Guangdong have established 44 companies and representative offices in Viet Nam with a total investment capital of $560 million.

Khiem described yesterday's large-scale conference as a good chance for enterprises from the two nations to introduce their potential and business demands, and move to foster co-operation in specific projects.

Guangdong province wanted to speed up co-operation in trade, investment, agriculture and tourism with Viet Nam, said Guangdong provincial governor Huang Huahua.

Whilst pledging to support the provincial enterprises' efforts to strengthen investment and co-operation with Viet Nam, the governor called for more sufficient trade dialogue between the two nations' in order to provide adequate information on investment climates and a trade policies.

Addressing the trade conference in which 900 businesses from the two countries participated, Viet Nam Chamber of Commerce and Industry chairman Vu Tien Loc called on relevant sectors to draw up effective methods to foster the bilateral trade ties with China whilst focusing on promoting Vietnamese exports to the market.

Viet Nam and China had targeted to bring two-way trade turnover to $25 billion next year, with Guangdong province accounting for $5 billion.

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