Vietnamese Prime Minister Nguyen TanDung hailed the practical contributions of Zhejiang businesses toVietnam-China trade ties and called on them to seize investmentopportunities in Vietnam.
PM Dung was addressing the Vietnam-China Trade-Economic CooperationForum in Zhejiang province’s capital of Hangzhou on April 28. Theevent brought together nearly 500 businesses, including 400 fromZhejiang and other Chinese localities.
Though citing an annual average growth rate of 25 percent in tradebetween Vietnam and Zhejiang over the past four years, the PMstill said that both have not fully tapped the available potential fortrade and investment.
In 2009, trade between Vietnam and Zhejiang was valued at only 1.4billion USD. By the end of 2009, Zhejiang businesses had invested in134 projects with a combined registered capital of 300 million USD inVietnam . Meanwhile, 22 Vietnamese businesses have poured a modestamount of 20 million USD into the locality.
He cited the recovery in the two countries’ two-way trade in the firstthree months of this year, representing a 40 percent rise over the sameperiod last year. As of the end of March, Chinese businesses werecarrying out 700 projects capitalising at nearly 3 billion USD inVietnam .
As the ASEAN-China Free Trade Agreement officially took effect thisyear, offering import tariff cuts to 0-5 percent for many products,Vietnamese and Chinese businesses should seize this opportunity to beefup their partnership to make profits for themselves and the twocountries as well, PM Dung said.
He highlighted the organisation of this forum by the Vietnam Chamber ofCommerce and Industry and the Trade Department and the InternationalTrade Promotion Committee of Zhejiang.
“The forum is a practical and significant activity for Chinesebusinesses, including those from Zhejiang , and Hangzhou city, andVietnamese partners to exchange information and seek opportunities fortrade and investment, in sectors of high potential and to search forcooperative partners,” PM Dung noted.
He said he hoped Zhejiang and Vietnamese businesses will sign moredeals and more invested projects will be licensed by both countries,thus contributing to further promoting bilateral friendship andcooperation.
PM Dung suggested both countries create conditions to boost theirwide-ranging cooperation, particularly in economy, trade ties andinvestment, pledging to facilitate Chinese businesses’ operations inVietnam .
The Mayor of Zhejiang province, Lu Zushan, spoke highly of PM Dung’svisit to his locality and affirmed that the local authorities will workto accelerate investment, trade and tourism ties with Vietnam andfacilitate its businesses’ investment in Vietnam .
Following the forum, PM Dung and the Zhejiang Mayor witnessed thesigning of cooperative documents between Vietnamese ministries, sectorsand localities with Zhejiang , such as an agreement on tourismcooperation and the exchange of trade information between Ho Chi MinhCity and Zhejiang province./.
PM Dung was addressing the Vietnam-China Trade-Economic CooperationForum in Zhejiang province’s capital of Hangzhou on April 28. Theevent brought together nearly 500 businesses, including 400 fromZhejiang and other Chinese localities.
Though citing an annual average growth rate of 25 percent in tradebetween Vietnam and Zhejiang over the past four years, the PMstill said that both have not fully tapped the available potential fortrade and investment.
In 2009, trade between Vietnam and Zhejiang was valued at only 1.4billion USD. By the end of 2009, Zhejiang businesses had invested in134 projects with a combined registered capital of 300 million USD inVietnam . Meanwhile, 22 Vietnamese businesses have poured a modestamount of 20 million USD into the locality.
He cited the recovery in the two countries’ two-way trade in the firstthree months of this year, representing a 40 percent rise over the sameperiod last year. As of the end of March, Chinese businesses werecarrying out 700 projects capitalising at nearly 3 billion USD inVietnam .
As the ASEAN-China Free Trade Agreement officially took effect thisyear, offering import tariff cuts to 0-5 percent for many products,Vietnamese and Chinese businesses should seize this opportunity to beefup their partnership to make profits for themselves and the twocountries as well, PM Dung said.
He highlighted the organisation of this forum by the Vietnam Chamber ofCommerce and Industry and the Trade Department and the InternationalTrade Promotion Committee of Zhejiang.
“The forum is a practical and significant activity for Chinesebusinesses, including those from Zhejiang , and Hangzhou city, andVietnamese partners to exchange information and seek opportunities fortrade and investment, in sectors of high potential and to search forcooperative partners,” PM Dung noted.
He said he hoped Zhejiang and Vietnamese businesses will sign moredeals and more invested projects will be licensed by both countries,thus contributing to further promoting bilateral friendship andcooperation.
PM Dung suggested both countries create conditions to boost theirwide-ranging cooperation, particularly in economy, trade ties andinvestment, pledging to facilitate Chinese businesses’ operations inVietnam .
The Mayor of Zhejiang province, Lu Zushan, spoke highly of PM Dung’svisit to his locality and affirmed that the local authorities will workto accelerate investment, trade and tourism ties with Vietnam andfacilitate its businesses’ investment in Vietnam .
Following the forum, PM Dung and the Zhejiang Mayor witnessed thesigning of cooperative documents between Vietnamese ministries, sectorsand localities with Zhejiang , such as an agreement on tourismcooperation and the exchange of trade information between Ho Chi MinhCity and Zhejiang province./.
