A Vietnamese factory processing tra fish for exports (Illustrative image. Source: VNA) Hanoi (VNS/VNA) - Vietnamese and Chinese enterprises are encouraged to tap into the great bilateral trade potential driven by the two countries’ open trade policies, experts have said. Vietnam values and gives priority to strengthening economic and trade cooperation with China, and hopes to receive greater investment from China and the overseas Chinese community, said Nguyen Noi, Deputy Director of the Foreign Investment Agency under the Ministry of Planning and Investment. “I’m pleased to see that many leading Chinese corporations are expanding their investments in the fields of electronics, renewable energy and IT, applying modern technology and bringing more value in line with Vietnam’s foreign investment orientation,” Noi told a conference on Vietnam-China trade and investment last week. China continued to be Vietnam’s … [Read more...] about Vietnam, China have room to grow trade ties: experts
Vietnam china trade
Illustrative image (Source: VNA) Beijing (VNA) – Minister of Industry and Trade Tran Tuan Anh has held a working session with head of China’s General Administration of Customs Ni Yuefeng to seek ways to boost bilateral trade ties in a more balanced and sustainable manner. The two sides agreed that thanks to the attention and direction of senior leaders of both countries, economic and trade cooperation between Vietnam and China has grown rapidly and seen fruitful outcomes over the years. They noted that Vietnam’s trade deficit with China has been decreasing, but has yet to be sustainable, thus requiring more effective measures to narrow it down. They affirmed the significant role of cooperation in farm produce trading, and agreed to continue to further facilitate the trade of the products in the coming time. Alongside, the two sides agreed to closely work together in implementing the protocol on opening the Chinese market for Vietnamese dairy products and … [Read more...] about Vietnam, China to enhance trade on farm produce
Officers of the Coc Nam Customs Department in Lang Son province, which shares a border with China, perform a check on imported products. (Photo: VNA) Hanoi (VNS/VNA) - Economic and trade relations between Vietnam and China have been developing in a positive direction, as shown by the continuous increase of bilateral trade turnover between the two countries. Vietnam is fast becoming an attractive investment destination for Chinese enterprises. According to the Foreign Investment Agency under the Ministry of Planning and Investment, China invested about 1.6 billion USD in Vietnam in the first fourth months of this year, making it the country’s fourth largest source of foreign investment. Several large projects were funded by Chinese investors in the period including a tire manufacturing project with total registered capital of 280 million USD in the southern province of Tay Ninh and another tire project of Advance Tire (Vietnam) Co. Ltd with registered capital of 214.4 … [Read more...] about Vietnam, China trade ties continue to develop
VietNamNet Bridge - Multinationals will have to think carefully about whether to relocate to Vietnam to avoid any negative impact from the US-China trade war, experts say. Multinationals will have to think carefully about whether to relocate to Vietnam International and Vietnamese experts have predicted that there will be a wave of ‘US-China trade war refugees’ coming to Vietnam. As the US has imposed higher taxes, Chinese goods have become less competitive in price in the US market. In such a context, manufacturers can continue making products in Vietnam for export to the US without having to bear high tax rates. Vietnamese experts think that foreign investors will flock to Vietnam in the context of the trade war but wonder if Vietnam is capable of absorbing the huge investment capital flow in the time to come. Nguoi Lao Dong newspaper quoted Takahisa Onose from the Japanese Entrepreneurs Association in HCM City as saying that most Japanese enterprises … [Read more...] about Will foreign investors relocate to Vietnam during the US-China trade war?
Vietnamese rice has been favoured by African consumers.(Photo: VNA) Hanoi (VNA) – Bilateral trade between Vietnam and African nations hit 6.6 billion USD in 2018, with Vietnam’s exports worth 3 billion USD, up 10 percent from the previous year. According to the Ministry of Industry and Trade’s Asia-Africa Market Department, Vietnamese products were shipped to 53 of 55 African countries, excluding South Sudan and Eritrea. Most of the shipments were mobile phones and spare parts, computers and spare parts, garment and textiles, footwear, rice, coffee, pepper, cashew, seafood and building materials. South Africa was the largest importer of Vietnam in the continent in 2018, spending 724.3 million USD on purchasing Vietnamese products, followed by Egypt with 439 million USD and Ghana with 278.3 million USD. Last year, Vietnam’s imports from African nations fell 10 percent to some 3.6 billion USD, helping reduce the trade deficit to 0.6 billion USD. The country … [Read more...] about Vietnam-Africa trade reaches 6.6 billion USD in 2018