Vinh Phuc eyes stronger trade, investment ties with Chinese locality
Vinh Phuc wants to enhance trade and investment cooperation with Hekou county of China’s Yunnan province, an official of the northern Vietnamese province has said.
Hoang Long Bien, head of the Vinh Phuc Industrial Zones Authority, made the remark while meeting with a Hekou delegation led by Yu Yang, Secretary of the Hekou county Party Committee and head of the Yunnan Pilot Free Trade Zone - Honghe Area, on March 18.
The Hekou delegation visited Vinh Phuc to explore local investment opportunities.
During the meeting, Bien provided an overview of Vinh Phuc’s socio-economic landscape, highlighting its strong appeal as an investment magnet thanks to its favorable location with a well-developed transportation network, a robust education system that supplies high-quality human resources, an optimal investment and business environment, and modern and well-integrated industrial park infrastructure.
Currently, Vinh Phuc hosts 17 industrial parks, including nine fully operational and five others undergoing infrastructure development. The province has attracted 1,308 investment projects, including 477 foreign direct investment (FDI) ones from 20 countries and territories, with a total capital of 8.5 billion USD. In particular, it is home to 106 Chinese-invested projects valued at 1.7 billion USD, primarily in automobile, motorcycle, and electronics manufacturing.
Bien said Vinh Phuc wishes to strengthen transport connectivity with major economic hubs in China via Hekou. He also expressed his hope for enhanced cooperation in tourism, education, cultural exchanges, and manpower training. Additionally, he proposed strengthening connectivity via trade, farm produce, and tourism fairs.
He reaffirmed the province's commitment to creating the best possible conditions for Hekou investors and businesses to invest in local industrial parks, particularly in electronics and textile manufacturing, VNA reported.
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| An overview of the meeting (Photo: vinhphuc.gov.vn) |
He expressed confidence that this partnership will continue to develop and deliver mutual benefits to businesses and residents in both localities.
For his part, Yu noted he hopes to boost partnerships in the fields matching both sides' advantages. He also pledged to facilitate Vinh Phuc enterprises in exploring investment opportunities in the county.
He highlighted that Hekou spans 1,313 sq.km, with a population exceeding 100,000. In 2024, its budget revenue totalled 14.5 billion CNY (2 billion USD), ranking it third in Yunnan province. As a key trade gateway between China, Vietnam, and ASEAN, Hekou plays a crucial role in the Vietnam – China economic corridor. The county has notable economic strengths in cross-border trade, electronics and textile manufacturing, and cross-border economic cooperation zones.
During the meeting, business representatives from Hekou county and Vinh Phuc officials discussed investment policies, trade promotion activities, and business cooperation between Vietnamese and Chinese enterprises.
Earlier, the Hekou delegation toured the Binh Xuyen II Industrial Park to gain a better understanding of Vinh Phuc’s industrial production.
Vietnam considers US a strategically important partner
Vietnam views the US as a strategically important partner, with economic, trade, investment, and scientific and technological cooperation continuing to serve as the foundation and driving force of bilateral relations.
Party General Secretary To Lam made the statement while receiving a delegation from the US-ASEAN Business Council (USABC), led by its President and CEO Ted Osius, former US Ambassador to Vietnam, in Hanoi on March 18.
Welcoming the USABC business delegation to Vietnam on the occasion of the 30th anniversary of diplomatic ties and the second anniversary of their upgrade to a Comprehensive Strategic Partnership, the Party leader acknowledged the great contributions of the US business community, particularly USABC enterprises in stepping up bilateral cooperation in trade, investment, and business.
He reaffirmed that Vietnam and the US as a strategically important partner and emphasized that economic, trade, investment, and scientific and technological collaboration will remain the cornerstone of the relationship, reported VOV.
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| Party chief To Lam welcomes US-ASEAN Business Council delegation. |
The Party chief expressed Vietnam’s commitment to further advancing the Comprehensive Strategic Partnership in a substantive manner. He underscored the importance of boosting stable economic, trade, and investment ties that benefit both nations' businesses and people while contributing to regional and global peace, stability, and prosperity.
He also highlighted the positive impact of Vietnam-US relations on the broader US-ASEAN partnership, calling on USABC to continue supporting ASEAN’s unity, cooperation, and economic growth. He noted that ASEAN remains a vast and promising market, presenting significant opportunities for international businesses, including US enterprises.
To Lam outlined Vietnam’s efforts to achieve its two strategic goals, including celebrating the 100th anniversary of the Communist Party of Vietnam in 2030 and the 100th anniversary of national independence in 2045. To this end, he said, Vietnam is carrying out comprehensive reforms, refining institutional frameworks, upgrading infrastructure, enhancing governance efficiency, and streamlining administrative procedures to create a more favorable environment for foreign investors, including those from the US.
Emphasizing the pivotal role of science and technology in Vietnam’s future development, he encouraged US businesses to expand their investment in Vietnam, particularly in fields where the US has expertise and Vietnam has demand, such as emerging technologies, the digital economy, green transition, renewable energy, and logistics.
For their part, USABC President and CEO Ted Osius and representatives of leading US enterprises congratulated Vietnam on its socio-economic development achievements.
They reaffirmed their commitment to contributing to the development of Vietnam-US relations, acknowledging the Vietnamese leadership's role in fostering a strong investment climate. Confident in Vietnam’s future under the leadership of Party General Secretary To Lam and other senior officials, they pledged to continue supporting and partnering with Vietnam in achieving its long-term development goals.
Vietnam, India eye US$20 bln in trade value
Vietnam and India agreed to foster bilateral trade and investment ties in order to raise the two-way trade turnover of US$20 billion in the near future.
The agreement was reached by Vice Chairman of the National Assembly of Vietnam Nguyen Duc Hai and Indian Speaker of the Lok Sabha Om Birla during their meeting in New Delhi, India, on March 17.
Nguyen, who is on a working visit to India, affirmed Vietnam's consistent policy of treasuring its relationship with India, saying his visit aims to further strengthen political trust and friendship between the two countries and their parliaments.
He expressed gratitude to India for its continued financial and technical support in restoring the Cham temple complex at the My Son Heritage Site in the central province of Quang Nam, which has been recognized by UNESCO as a World Cultural Heritage site.
He called for stronger mutual investment between the two countries, urging major Indian corporations to invest in Vietnam, particularly in strategic infrastructure, digital infrastructure, and high technology, cited VGP.
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| Vice Chairman of the National Assembly Nguyen Duc Hai (L) meets Indian Speaker of the Lok Sabha Om Birla, New Delhi, India, March 17, 2025. Photo: VNA |
Birla, for his part, suggested both countries take measures to further open the market, strengthen agricultural cooperation, promote cultural and tourism collaboration, increase tour packages, travel routes, and tourism products, as well as enhance air connectivity between the two sides.
The Indian Lok Sabha will soon establish the India-Vietnam Friendship Parliamentary Group, expressing his readiness to support Vietnam in training legislative personnel, he noted.
Both sides vowed to increase high-level delegation exchanges between their parliamentary leaders and support the expansion of bilateral cooperation across key pillars, including politics, defense and security, economy-trade-investment, agriculture, culture, tourism, and people-to-people exchanges.
They pledged to strengthen ties between their legislative bodies and promote exchanges between specialized committees of their parliaments to share experiences in lawmaking.
In particular, they underscored the importance of sharing expertise on digital transformation, building a digital parliament, and enhancing the effectiveness of parliamentary activities through technology and digitalization.
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