PM Nguyen Tan Dung on April 28 had meeting with Chinese province of Zhejiang’s Governor Lu Zushan and attended the VietNam-China Economic and Trade Cooperation Forum.
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PM Nguyen Tan Dung (L) meets Zhejiang’s Governor Lu Zushan, Hangzhou, Zhejiang, China, April 28, 2010
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The forum was co-organized by the VietNam Chamber of Commerce and Industry (VCCI) and Zhejiang’s Department of Foreign Trade and Economic Cooperation, and the Economic and Trade Commission.
Representatives from nearly 500 VietNamese and Chinese enterprises took part in the forum.
Making his remarks at the forum, PM Dung highlighted the importance of the event as an effective channel to bolster trade ties between VietNam and China in general and with Zhejiang in particular.
China now is one of VietNam’s top trade and investment partners. In Q1 this year, VietNam-China trade turnover surged 40% compared to the same period last year.
By the end of Q1, China had over 700 projects worth of US $3 billion. These projects have a high rate of disbursement.
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PM Nguyen Tan Dung makes his keynote speech at the VietNam-China Business Forum, Hangzhou, China, April 28, 2010
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Meanwhile, trade value between VietNam and Zhejiang also boomed during the past four years, posting an annual pace of 25% on average. The figure reached US $1.4 billion in 2009.
Now, just 134 Zhejiang businesses are doing business in VietNam with the total registered capital of US $300 million and 22 VietNamese enterprises have set business sites in the Chinese province with over US $20 million in total.
PM Dung, however, noted that the trade figures are far to match with the two sides’ current potentials. The VietNamese Government leader said that the ASEAN-China Free Trade Agreement (ACFTA) that came into effect early this year opens vast opportunities for the two countries to proceed to closer cooperation and common prosperity.
He took the occasion to call on Chinese investors to pour more and more investment in VietNam because the VietNamese Government commits to favorable conditions for foreign investors, including those from China.
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The signing ceremony of the Memorandum of Understanding between the Việt Nam National Administration of Tourism and Zhejiang’s Tourism Bureau, Hangzhou, Zhejaing, China, April 28, 2010
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Also at the forum, PM Dung and Zhejiang’s Governor Lu Zushan witnessed the signing ceremony of three Memoranda of Understanding (MoUs) between VietNam and the Chinese locality.
These are the MoU on cooperation between the VietNam National Administration of Tourism (VNAT) and Zhejiang’s Tourism Bureau, on information exchange between the Asia-Pacific Market Department (VietNamese Ministry of Industry and Trade) and Zhejiang’s Economic and Trade Commission, and on cooperation between Ho Chi Minh City’s Municipal People’s Committee and the People’s Government of Zhejiang Province.
In the afternoon, PM Nguyen Tan Dung plans to visit the city of Ningbo-one of the three economic hubs of Zhejiang./.