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Friday, June 14, 2024

HCMC seeks stronger economic ties with China’s Yellow River provinces

The Saigon Times

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HCMC – HCMC is seeking to expand economic cooperation with China’s Shandong Province and other localities along the Yellow River border.

A trade conference in HCMC on March 11 emphasized the potential for collaboration between the city and China’s Shandong Province, as well as cities along the Yellow River.

The conference aimed to lay the groundwork for enhanced bilateral trade exchanges, focusing on key sectors such as agricultural products, textiles, footwear, and electronics.

Highlighting Shandong Province as a major economic hub in Eastern China, Song Junji, vice governor of Shandong, said the province has a population of 100 million and is the third largest economy within China. Shandong leads in industrial production value, exceeding CNY1 trillion, and prioritizes industrial development and import-export activities.

China remains Vietnam’s top trading partner, with Vietnam also holding a significant position within China’s global trade network, coming in fourth. In addition, Vietnam has consistently held the position of China’s largest trading partner among Southeast Asian nations in recent years.

Nguyen Van Dung, vice chairman of the HCMC People’s Committee, stressed the city’s commitment to fostering ties with Chinese localities, citing China’s ranking as the 17th country in direct investment in HCMC, with Chinese investors having undertaken 590 projects totaling over US$303 million.

Dung urged cooperation in various sectors beneficial to both Vietnam and China, including construction, healthcare, education, cultural exchange, tourism, digital technologies, and environmental practices.

With aspirations to become a smart city and a regional logistics center, HCMC aims for significant economic development. “Given these goals, we hope that officials in Shandong and other localities will encourage their tech and innovation companies to invest in HCMC. We also welcome increased imports of goods that complement our city’s strengths,” said Dung.

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