VAFIE works to boost Chinese investment in Vietnam

The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) worked with an industry-trade delegation from China's Chongqing city at a Friday seminar to boost investment ties between the two countries.

Stressing the solid foundation for growing bilateral trade and investment relations, VAFIE vice chairman Nguyen Van Toan said China is Vietnam’s biggest trade partner, while Vietnam is China's biggest trade partner in ASEAN.

He also noted that Vietnamese Prime Minister Pham Minh Chinh and Chinese Party General Secretary and President Xi Jinping had recently reiterated the strength of Vietnam-China partnership at a meeting on Wednesday on the sidelines of the BRICS Summit in Russia.

Vietnam is striving to attract Chinese investment, especially in high-tech areas, Toan said.

He said that his association, operating in close coordination with the Ministry of Planning and Investment, will help connect businesses of both countries.

The association also collects businesses' recommendations and conveys them to the National Assembly and the government, he added.

Chongqing officials said the city is a fast-growing area of China focusing on tourism, electronics and industrial production. By working with the VAFIE, the delegation is looking to advance business cooperation in electricals and industrial real estate, boosting collaboration between Vietnam and Chongqing, they added.

Several Chinese businesses in tourism, electricals, renewable energy, and construction expressed their investment interest in Vietnam at the seminar.

Representatives of industrial parks in Vietnam, including Dong Van III in Ha Nam province and My Thuan in Nam Dinh province, presented their advantages to the Chinese delegation.