Vietnam to Offer Better Conditions for Chinese Investors

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Apr. 21 – The Vietnamese Government is promising better conditions for Chinese investors looking into doing business in the country.

Prime Minister Nguyen Tan Dung said the statement during a Vietnam-China Business Forum held in Guangzhou city, adding that Chinese-invested projects in the country were going smoothly.

A reported 600 Chinese-invested projects are now in Vietnam with a capitalized value of US$2 billion, not including investment coming from Hong Kong and Macau.

According to VNA, Guangdong provincial Party Secretary Wang Yang and Governor Huang Huahua affirmed that they would work towards improved relations with Vietnam, more so in investment and trade.

The two countries have been enjoying robust trade. In 2008, bilateral trade amounted to US$20 billion, an increase of 28 percent despite the global economic slowdown. Specifically, during the same year , Vietnam-Guangdong trade turnover amounted to almost US$3.4 billion, an increase of 37 percent.

Both countries are working towards building a US$4 billion economic-trade zone in the Vietnamese northern port city of Haiphong with the goal of hiking bilateral trade value to US$25 billion by 2010 with US$5 billion of that amount forecast to come from Guangdong.