PM pledges better conditions for Chinese investors

The Vietnamese Government pledges to offer favourable conditions to Chinese investors, including those from Guangdong, to do business in Vietnam, Prime Minister Nguyen Tan Dung has said.

At the Vietnam-China Business Forum held in Guangzhou city, Guangdong province on April 19, PM Dung also said most Chinese-invested projects in Vietnam are going smoothly, benefiting both investors and the host country.

Currently, 600 Chinese-invested projects capitalised at US$2 billion are operating in Vietnam, excluding those invested by Hong Kong and Macau investors.

Guangdong provincial Party Secretary Wang Yang and Governor Huang Huahua affirmed that they will facilitate co-operation with Vietnam, particularly in investment and trade.

Treasuring long-lasting traditional relations, the two bordering countries have experienced increased trade ties over the last years. Vietnam and China posted a bilateral trade value of US$20 billion in 2008, a year-on-year increase of 28%, despite the impacts of the global economic crisis, to which Guangdong made remarkable contributions.

Vietnam-Guangdong two-way trade turnover reached nearly US$3.4 billion in 2008, a year-on-year increase of 37%. The two sides are implementing a joint project to build a US$4 billion economic-trade zone in Vietnam’s northern port city of Haiphong.

According to PM Dung, during his current visit to the neighbouring country and the one made last October, Vietnam and China agreed upon specific measures to realising their comprehensive strategic partnership, with economic, trade and investment being top priorities.

As a result, the two countries have set a bilateral trade value target of US$25 billion in 2010, including US$5 billion with Guangdong.

PM Dung witnessed the signing of a Memorandum of Understanding between the Vietnamese Ministries of Industry and Trade, Planning and Investment and Guangdong authorities on economic co-operation between Vietnam and China. (VNA)

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