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Vietnam seeking greater Chinese investment

Released at: 14:08, 11/05/2019

Vietnam seeking greater Chinese investment

Photo: Yingke Vietnam

Vietnam-China Trade Investment Promotion Conference held on May 10 in Hanoi.

by Minh Do

Vietnam hopes to secure more Chinese investment projects as there are few from the northern neighbor at present, H.E. Nguyen Van Tho, Ambassador of Vietnam in China, former Deputy Minister of Foreign Affairs, and Vice President of the Vietnam-China Friendship Association, told the Vietnam-China Trade Investment Promotion Conference on May 10 in Hanoi.

Mr. Nguyen Noi, Deputy Head of the Foreign Investment Agency at the Ministry of Planning and Investment, said Vietnam always hopes to receive more fresh investment from China, in particular projects with high technology, with priority given to the fields such as machinery, electronics, pharmaceuticals, support industries, robotics, information technology, infrastructure, and clean energy.

According to Deputy Chairman of the Chinese Enterprises Association, Mr. Fu Long Cheng, China has held many seminars on Vietnam-China trade and investment cooperation, introducing high-quality projects and encouraging Chinese enterprises to invest in Vietnam.

Vietnam is now a very attractive investment destination for Chinese companies. Many have chosen the country because of its sound infrastructure, good quality workforce, and reasonable costs, said Mr. Huang Rong, CEO of the Yingke Vietnam Co. The company has helped Chinese enterprises take steps to analyze financial, accounting, human resources, and management before deciding to invest in Vietnam.

This was the fourth holding of the conference, attended by leaders and enterprises from both countries. Enterprises were provided with information, assessments, and forecasts from analysts on the challenges and investment opportunities in 2019 and encouraged to take advantage of trade and investment incentives under Vietnamese law and preferential treatment under free trade agreements. Investors and traders have also created more business links, providing attractive investment and trade opportunities.

On the sidelines of the conference, Yingke Vietnam was officially launched in Vietnam after a year of preparations. “Vietnam is an important destination for Yingke Global in Southeast Asia, and Southeast Asia is a starting point for the global targets in Yingke Global’s development strategy,” said Mr. Ye Xiao Pei, Co-founder and CEO of Yingke Global. “In 2019, we plan to establish one branch each month and will quickly open more offices in Southeast Asia and South Asia.”

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