VAFIE facilitates search for investment opportunities in China’s Yunnan province

Vietnam's Association of Foreign Invested Enterprises (VAFIE) will organize visits by Vietnamese business delegations to China’s Yunnan province to study policies and investment opportunities, says standing vice chairman Nguyen Anh Tuan.

Hosting a delegation from the Yunnan Taxation Department in Hanoi Monday, Tuan called for support in this endeavor from the Yunnan administration in general and the department in particular.

Investment and trade relations between Vietnam and China have great potential in green transition, environmentally friendly industries, high-tech agriculture, renewable energy and transport infrastructure projects, he said.

“Once a railway route connecting Hai Phong city in northern Vietnam with Yunnan province is completed, it will open up more cooperation opportunities for both sides,” he added.

Tuan also expressed his belief that China would become the largest investor in Vietnam in the near future.

Yang Bianbian, deputy director of the Yunnan Taxation Department, emphasized that in recent years, political and economic ties between Vietnam and China have reached new heights with remarkable progress in investment cooperation, including tax issues.

He said his delegation’s working trip aimed to enhance understanding between the two sides and support Chinese enterprises in learning about the business environment as well as preferential policies to attract investment of Vietnam.

Promoting Yunnan’s incentives to lure investment from Vietnam is also on the delegation’s agenda, he added.

Yunnan offers many incentives for foreign-invested enterprises now, especially those investing in priority areas such as agriculture with high value-added products, modern logistics, advanced technologies and green energy. The preferential corporate income tax rate that foreign enterprises enjoy is 15%, much lower than the 25% for domestic companies, the official noted.

Of the 2,200 or so foreign-invested enterprises in Yunnan, only 11 are from Vietnam. “Therefore, we hope that in the coming time, Yunnan can attract more investment from Vietnam, especially in the context of increasingly convenient transportation infrastructure between the two countries,” Yang said.

A representative of the Yunnan trade representative office in Hanoi said the agency stood ready to support VAFIE in organizing Vietnamese business delegations to visit Yunnan in the near future for exploring cooperation and investment opportunities.

VAFIE is the parent entity of The Investor.