China to invest US$1.6 billion in Viet Nam

Vietnamese and Chinese enterprises have signed 22 co-operative agreements worth US$1.6 billion, mainly in electronics, construction, transportation and trade. 

Deputy PM Pham Gia Khiem
Vietnam and China have surpassed the bilateral trade target set for last year, and should further strengthen their trade and investment relations, Deputy Prime Minister and Foreign Minister Pham Gia Khiem has said.
 
He was a speaking at the Vietnam – China Economic and Trade Cooperation Conference held in Hanoi on Tuesday.
 
Attending the conference with Mr. Khiem was Wang Yang, member of the 17th Politburo of the Communist Party of China and Current Secretary of the Guangdong Committee.
 
The conference drew the participation of about a thousand enterprises from both countries, and witnessed the signing of 22 co-operative agreements worth US$1.6 billion, mainly in electronics, construction, transportation and trade sectors.
 
Bilateral trade between the two countries has been growing by 20 percent annually, and total Chinese investment in 2007 totaled US$1.8 billion, the Deputy PM noted.
 
Mr. Khiem, who holds the Minister of Foreign Affairs and a portfolio as well, also praised the growing economic ties with Guangdong Province, noting that the import-export turnover between Viet Nam and Guangdong in 2007 was US$2.45 billion, 53 percent higher than the previous year.
 
Wang Yang responded to the Deputy PM’s call for increased ties by pledging to promote activities to strengthen friendship between the two countries and to encourage more Chinese firms to invest in Viet Nam. 
 

By Bich Hang – Translated by Truong Son

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