HCM City, Guangdong look to stronger trade, investment ties
Vietnam’s southern largest economic hub of Ho Chi Minh City and China’s Guangdong province hold a wide range of potentials for stronger trade and investment ties.
HCM City (VNA) – Vietnam’s southern largest economic hub of Ho Chi Minh City andChina’s Guangdong province hold a wide range of potentials for stronger tradeand investment ties, participants remarked at a conference held in the city onAugust 18.
Chu Tien Dung,Chairman of the HCM City Enterprises Association, said economic relationsbetween Vietnam and China have been developing positively, laying an importantfoundation for HCM City’s businesses and their partners in Guangdong to step uptrade and investment cooperation in the coming time.
HCM City wantsto increase two-way trade value with Guangdong as the city has a lot ofadvantages in producing electronic equipment and components, wood and woodenfurniture, agricultural and aquatic products, garments and textiles.
Meanwhile, Guangdongenterprises have opportunities to export advanced machinery as well asmaterials used in agricultural and industrial production to the Vietnamesemarket.
Le Thi QuynhMai, Deputy Director of the municipal Department of Planning and Investment,said the city wants to cooperate with foreign partners, including those from Guangdong,to develop key industrial sectors, supporting industry, infrastructure, andgreen and renewable energy.
She stressedthat the municipal authorities are working hard to improve the local business andinvestment climate by accelerating administrative reform and offering tax andland incentives.
Wen Zhi Yao, generalsecretary of the Guangdong trade promotion association, said Vietnam is anemerging market in Southeast Asia, with various advantages such as steady economicgrowth, increasing consumption demand, young population, low-cost workforce andrapid development of IT.
These potentialshave turned Vietnam into an attractive destination for Chinese investors toexpand their business and investment, he stressed.-VNA
Ho Chi Minh City and China’s Guangdong province boast numerous opportunities for cooperation as both share many common interests and hold economic importance to their respective countries.
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Illustrative photo (Source: VNA) 
