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Vietnamese, Chongqing Firms Explore Business Opportunities

A meeting was held in Hanoi recently for businesses from Vietnam and China’s Chongqing province to discuss investment opportunities in the fields of refrigeration mechanics, motorbike manufacturing, electronics and metallurgy.

Speaking at the event, Vice Chairman of the Vietnam Association of Foreign-Invested Enterprises Nguyen Van Toan said two-way trade between Vietnam and China topped 106 billion USD last year. Vietnam mostly imported equipment and materials used for textile, garment and footwear from China. He hailed China as one of the pioneering countries in terms of smart industry and 4.0 technology with widespread 5G development.

Vietnam welcomes Chinese and Chongqing provincial firms to explore business opportunities in the country, he said. He also called on the two countries’ enterprises to tap trade opportunities, thus boosting bilateral economic and trade ties.

Vice Director of Chongqing’s Commerce Commission Xu Xincheng said as one of the largest economic hubs of China, Chongqing serves as an important bridge between China’s southwestern region and Vietnamese localities.

Since 2018, exports-imports between Chongqing and Southeast Asian countries have surpassed 12.4 billion USD, over 3.5 billion USD of which was Vietnam’s trade with the province, up 128.95 percent, he said.