China News Service, Beijing, January 22 (Reporter Wei Xi) The China-Vietnam Business Opportunity Matchmaking Conference was held on January 22 in video format. Xu Ningning, executive director of the China-ASEAN Business Council, said that 2021 is the 30th anniversary of the establishment of the dialogue partnership between China and ASEAN, the year of China-ASEAN sustainable development cooperation, and the key year for China and ASEAN countries to fight the epidemic. At present, Chinese and Vietnamese enterprises should enhance mutual exchanges and cooperation and actively connect with business opportunities.
In 2020, China is the only country in the world’s major economies that has experienced economic growth, and Vietnam has also achieved economic growth against the trend. In the economic growth of Vietnam in 2020, the processing and manufacturing industry will increase by 5.82%, the construction industry will increase by 6.76%, the wholesale and retail industry will increase by 5.53%, and the finance, banking and insurance industry will increase by 6.87%. The foreign trade surplus for the whole year was 19.1 billion U.S. dollars, which was a record high for five consecutive years.
Xu Ningning stated that the bilateral trade volume between China and Vietnam in 2020 will be close to 200 billion US dollars, accounting for nearly 30% of the total trade volume between China and ASEAN in the same period. The main industries where Sino-Vietnamese trade grows are processing and manufacturing products and building materials. He suggested that the Belt and Road and the Two Corridors and One Ring should be further connected and cooperation, and the potential of economic and trade cooperation between the two countries should be explored continuously; under the premise of ensuring the safety of epidemic prevention, the two countries should jointly maintain the stability of the supply chain and the smooth flow of trade between the two countries; Cooperation to create a new industrial chain with complementary advantages and promote industrial upgrading.
The meeting was co-sponsored by the China-ASEAN Business Council and the Embassy of Vietnam in China, and the co-organizer Harbin Zhongyi Sunshine Linen Textile Co., Ltd. Liu Xin, the executive secretary general of the China-ASEAN Business Council, said when presiding over the meeting that China and Vietnam are complementary to each other in economy and trade, and demand is strong. The purpose of this meeting is to assist enterprises of both sides to enhance understanding and further develop complementary space for economic and trade industries to meet the needs of economic and trade development.
Vietnam’s Embassy in China chief commercial counsellor said that in 2020, Vietnam’s economy will grow by 2.91%, industrial production will increase by 3.36%, and foreign trade will grow by 5.1%. These achievements have created a good foundation for Vietnam’s economic development in 2021, and also made foreign investors full of confidence in Vietnam’s development prospects.
Commercial counsellor of Vietnam embassy said that there are many advantages in investment and business opportunities in Vietnam, which are mainly reflected in the following: First, it has abundant labor resources. Vietnam has a population of more than 96 million. The labor cost is currently lower than that of many ASEAN countries; Preferential policies, including taxation, land lease fees, etc., provide convenience and incentives for foreign-funded enterprises, and the government assists and develops infrastructure and public facilities for investment projects; third, Vietnam has signed 15 multilateral and bilateral free trade agreements, of which 13 It has been implemented, which helps to enjoy preferential tariffs on import and export of goods when investing in Vietnam.
Source: China – ASEAN Business Council