VINACHEM

HA NOI — Viet Nam and China aim to increase two-way trade turnover to US$25 billion as well as further promote investment between the two countries in 2010, said Prime Minister Nguyen Tan Dung.

Dung made the remarks yesterday at the Viet Nam-China Business Forum held in China's Jiangsu Province. This was part of his week-long visit to the country.

Speaking to the Governor of China's Jiangsu Province Luo Zhijun, Dung said that two-way trade between Viet Nam and China increased 30 per cent in the past ten years and reached more than $21 billion in 2009, an increase of 6 per cent compared to 2008.

By the end of March this year, China had more than 700 projects operational in Viet Nam accounting for registered capital of nearly $3 billion.

China is currently Viet Nam's leading trade and investment partner, Dung said, adding that Jiangsu Province played an active role in the two countries' commercial relationship.

Two-way trade turnover between Viet Nam and Jiangsu had increased 30 per cent annually in the past four years, Dung said. However, results have not matched the potential and expectations of both sides.

The visit aimed at exchanging and agreeing on significant measures to bolster the comprehensive strategic partnership between the two countries, he said.

Jiangsu's Governor Luo Zhijun said the business forum was a meaningful event for Chinese businesses, including those from Jiangsu Province, and Vietnamese businesses to exchange and hunt for trade and investment information.

Luo said that the participation of more than 400 Chinese businesses in energy, mineral mining, electronics, nano-materials, digital, and tourism indicated their interest in doing business with Vietnamese partners.

The 77-million population province offered a huge market for investment opportunities, Luo said. He added that the provincial authority would create every possible condition to foster co-operation in investment, education and training between the province and Viet Nam.

Prime Minister Dung called on Chinese enterprises and Jiangsu's businesses to widen their business and investment in Viet Nam, affirming that the Vietnamese Government would facilitate their activities in the country.

Dung and Lou witnessed the signing of important co-operation agreements between the two sides to create a more convenient legal framework for co-operation, including memoranda on tourism, commercial information exchanges and co-operation among provinces.

Doing business

Luo Zhijun underlined Viet Nam's vital position in the province's economy during his talks with Prime Minister Nguyen Tan Dung yesterday.

He described Dung's visit as a significant milestone in bilateral relations.

Viet Nam is Jiangsu's leading partner in the Association of South-East Asian Nations (ASEAN), a situation that has encouraged the eastern Chinese province to look for a more comprehensive relationship with the country, said Luo.

He cited infrastructure, mechanical engineering, electronic appliances, petro-chemicals, human resource development and tourism as strengths that both countries should tap for their mutual interest.

His views were backed by the Vietnamese leader, who reiterated Viet Nam's high regard for its relationship with Jiangsu and pledged to do his best to take bilateral relations to new heights.

Dung and Luo expressed their satisfaction at the relationship between Viet Nam and China as well as between their ministries and administrations.

(Source: VNS)