The trade turnover between Vietnam and Guangdong in 2022 reaches 47 billion USD, accounting for 20.1% of the total import and export turnover between Vietnam and China. (Photo: baodautu.vn)According to Consul General Vu Viet Anh, Guangdong’s economy focuses on manufacturing, processing agricultural products and food, and microbiological and telecommunications technologies. The locality boasts huge potential for cooperation with Vietnam.
Inaddition to agreements signed between the two nations, Vietnam and Guangdongprovince also have a mechanism to organise conferences reviewing economic, tradeand investment cooperation between ministries, sectors and localities ofVietnam and Guangdong authorities, which was established in 2009.
Consul General Vu Viet Anh (centre) at a tourism promotion seminar. (Photo: VNA) Statistics from China Customs showed that the trade turnover between Vietnam and Guangdongin 2022 reached 47 billion USD, accounting for 20.1% of the total import andexport turnover between Vietnam and China. The figure hit 10.2 billion USD in thefirst three months of this year.
Businesses in Guangdong have invested billions of USD in Vietnam. TheShenzhen - Hai Phong Economic and Trade Zone invested by Shenzhen Shen YueJoint Investment Company is one of the typical investment projects of Guangdongin Vietnam.
Anh said his office has worked hardon looking for Chinese partners and investors who use advanced technologies inproduction, and those interested in investing in Vietnam, and encouragedthem to invest in areas where Vietnam has high demand such as green and sustainabledevelopment sustainability, new energy, and biomedical technology. It has also supportedVietnamese localities, ministries, and businesses to access the Chinese market.
In 2022, the Consulate General hosted or jointly organised a series of seminarsand trade promotion conferences in order to stimulate economic, trade, andinvestment cooperation with Guangdong province, Anh said.
Nguyen Duy Phu, head of the Vietnam Trade Office in Guangzhou (centre) in a meeting with the Guangdong Bird's Nest Industry Association. (Photo: the Vietnam Trade Office in Guangzhou )Nguyen Duy Phu, head of the Vietnam Trade Office in Guangzhou, said that theagency has always worked closely and actively with the economic department inthe Vietnamese Consulate General in Guangzhou to promote economic diplomacywith the Chinese side.
The trade office regularly consults, provides marketinformation and business opportunities, and promotes demand-supply connections betweenVietnamese enterprises and companies in Guangdong, thus boosting Vietnam'sexports, Phu noted, adding it will coordinate to organise activities within Vietnam's participation in the18th China International Small- and Medium-sizedEnterprises Fair (CISMEF) and the 2nd China International Small And MediumEnterprises Forum in Guangzhou from June 27-30, 2023.
Within theframework of the events, Vietnam will organise a Vietnam - China investmentpromotion conference to attract investment to Vietnam's industrial parks. A memorandumof understanding (MoU) to promote bilateral cooperation between the Ministry ofIndustry and Trade and the Ministry of Industry and Information Technology of China is expected to be inked.
The office has been coordinating with the Vietnam National Trade Fair and Advertising Company (Vinexad) toorganise a delegation of Vietnamese businesses to Guangzhou to attend the 2013 Guangdong 21st Century Maritime Silk RoadInternational Expo (MSRE) from June 2-4, and many other international fairsin Guangzhou.
Phu said Guangdong is a large market with diverse demand. Inaddition to machinery, equipment, and accessories, Guangdong also has demandfor Vietnamese rice, seafood, fruits and processed foods.
He underlined the need for Vietnamese enterprises to payattention to improving the quality of exports to increase competitiveness,and strengthening trade and investment promotion activities in the Guangdongmarket, towards expanding bilateral economic, trade, and investment cooperationbetween Vietnam and the Chinese locality./.
Within theframework of the events, Vietnam will organise a Vietnam - China investmentpromotion conference to attract investment to Vietnam's industrial parks. A memorandumof understanding (MoU) to promote bilateral cooperation between the Ministry ofIndustry and Trade and the Ministry of Industry and Information Technology of China is expected to be inked.
The office has been coordinating with the Vietnam National Trade Fair and Advertising Company (Vinexad) toorganise a delegation of Vietnamese businesses to Guangzhou to attend the 2013 Guangdong 21st Century Maritime Silk RoadInternational Expo (MSRE) from June 2-4, and many other international fairsin Guangzhou.
Phu said Guangdong is a large market with diverse demand. Inaddition to machinery, equipment, and accessories, Guangdong also has demandfor Vietnamese rice, seafood, fruits and processed foods.
He underlined the need for Vietnamese enterprises to payattention to improving the quality of exports to increase competitiveness,and strengthening trade and investment promotion activities in the Guangdongmarket, towards expanding bilateral economic, trade, and investment cooperationbetween Vietnam and the Chinese locality./.
VNA
