Vietnam pledges favourable conditions for Guangdong 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 2 billion USD 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 cooperation 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 20 billion USD in 2008, a year-on-year increase of 28 percent, despite the impacts of the global economic crisis, to which Guangdong made remarkable contributions.

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

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 25 billion USD in 2010, including 5 billion USD 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 cooperation between Vietnam and China.

VietNamNet, VNA

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