Khanh Hoa (VNA) –🍸 With its strategic importance in the central key economic region, well-developed and interconnected infrastructure, coupled with ample potential for tourism development, Khanh Hoa province is an ideal location for Chinese businesses to seek opportunities for cooperation and investment, Vice Minister of Foreign Affairs Pham Thanh Binh has said.

According to insiders, there remains big room and great potential for the south-central coastal province to further intensify trade, investment, and tourism cooperation with Chinese businesses, said insiders. Currently, Khanh Hoa is home to only three projects invested by Chinese enterprises in the fields of commerce and services, with a total registered capital of over 29.6 million USD. However, China has been and continues to be a vital market for the local tourism industry, driving the increasing frequency of commercial and charter flights between Khanh Hoa and many provinces and cities in China. Additionally, China is also a major importer of Khanh Hoa's agricultural products, such as durians, lobsters, and bird’s nest products. Trinh Thi Hong Van, Chairwoman of the Member Council of Khanh Hoa Salanganes Nest Company, said the firm has recently signed a cooperation agreement for supply of goods with the Beijing Tong Ren Tang Group Co., Ltd and the Ningbo agricultural products and by-products logistics center of China to strongly promote its high-quality products and penetrate more deeply the Chinese market after officially exporting to China in 2023. The provincial People's Committee in collaboration with the Consulate General of China in Ho Chi Minh City also organised a programme in Nha Trang city to connect businesses of Khanh Hoa and China, offering a venue for them to exchange information, and explore new collaboration opportunities in tourism, trade, agriculture, forestry, fisheries, According to Wei Hua Xiang, Consul General of China in HCM City, Vietnam is China's largest trading partner in ASEAN and the fifth-largest globally. Chinese businesses have invested in 19 out of 21 foreign-invested economic sectors and in 55 out of 63 provinces and cities in Vietnam. He said he believes that cooperation between Khanh Hoa and China in various fields will continue to grow stronger in the future. Zhang Lin, Vice Chairman of the China Bussiness Association in Vietnam, highlighted that Khanh Hoa’s open business environment, strong development potential in tourism, maritime economy, high-tech, human resources training, and health care, make it increasingly attractive to more Chinese businesses and individuals who are interested in pouring investment into the locality. Vice Chairman of the provincial People’s Committee Le Huu Hoang said the locality is calling for Chinese investors to promote the import and export of local agro-forestry-aquatic products to the Chinese market, as well as tourism partnership in the coming time. China has become an extremely important market for Khanh Hoa’s tourism industry in recent years. Among the more than 4.7 million international tourists visiting the locality in 2024, over 800,000 were Chinese, placing China the second-largest international market of the Vietnamese locality. Hoang said that the provincial authorities stand ready to accompany and create the best conditions for Chinese enterprises to cooperate and do business in Khanh Hoa towards bringing practical benefits for both businesses, and contributing to the two nations’ economic development./.