Guangdong Companies Sign 24 Deals in Hanoi Trade Forum

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Oct. 23 – Guangdong companies signed 24 projects worth US$723 million during a trade forum in Hanoi on October 20.

“Vietnam will do its best to further develop this relationship, including efforts to boost economic, commercial and investment ties with Guangdong province,” Vietnam’s Deputy Prime Minister Pham Gia Khiem was quoted as saying by Nhan Dan.

Bilateral trade between Vietnam and China’s Guangdong Province has been growing steadily amounting to US$3.35 billion last year and accounting for one-sixth of the total trade between the two. During the first eight months of this year, bilateral trade increased by 26 percent to US$2.6 billion.

Chinese Ambassador Sun Guo Xiang added that the Chinese government has always encouraged Guangdong businesses to invest in Vietnam and pledged to help businesses from the both sides achieve their targets.

There are plans for Guangdong government to establish a dialogue mechanism for commercial cooperation with Ho Chi Minh City because of the economic potentials of trade. Since August, Guangdong companies have invested an estimated US$560 million in 44 projects in Vietnam.