China’s Sichuan businessmen are hoping to boost their investments in Vietnam, regarding the country as a key market in bolstering economic and trade development, said Deputy Director of the Sichuan Commerce Department Jia Zhuang Miao.
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Zigong, Sichuan Province
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At a discussion on economic and trade cooperation between Vietnam and Sichuan in Hanoi on April 8, Jia said there is enormous potential for cooperation between the two sides, that the province is encouraging businesses to continue investing in Vietnam, and lauded Vietnamese enterprises currently operating in Sichuan.
The Chinese province is the leading industrial and production centre in the western part of the country where there are various opportunities for foreign enterprises.
Highlighting Sichuan’s potential, Deputy Director of the Asia-Pacific Department under the Ministry of Industry and Trade Dao Tran Nhan said that enterprises from both sides need to actively turn ideas into reality towards increasing trade revenues in the coming time.
In recent years, economic and trade ties between Sichuan and Vietnam have grown significantly. In 2008, Sichuan boasted revenues of 330 million USD from exports to Vietnam, and imported 230 million USD of goods from its Southeast Asian neighbour.
Vietnam’s primary exports to the province include semiconductors, micro-electronics, and electronics products.
The discussion was held during a visit by a Sichuan delegation which is attending the 19th International Trade Fair, which opened in Hanoi on April 8, drawing 125 domestic and foreign enterprises operating in various sectors./.