Vietnam now an attractive investment destination for Chinese companies, according to the Vietnam-China Trade Investment Promotion Conference held on Friday in Hanoi.
The event provided participants with information, assessments, and forecasts on the investment challenges and opportunities in 2019 and encouraged businesses to take advantage of incentives under Vietnamese law and preferential treatment under free trade agreements.
Huang Rong, CEO of the Yingke Vietnam Co. said “Many of Yingke Group’s clients have chosen Vietnam as a place to invest in because of good infrastructure, quality of the workforce, and affordable prices. Our company has helped Chinese enterprises take steps to analyze financial, accounting, human resources, and management before deciding to invest in Vietnam.”
Nguyen Noi, Deputy Head of the Foreign Investment Agency at the Ministry of Planning and Investment, said Vietnam always hopes to receive more fresh investment from China, in particular projects with high technology. He added priorities will be given to machinery, electronics, pharmaceuticals, support industries, robotics, information technology, infrastructure, and clean energy.
China is now Vietnam’s biggest trade partner with bilateral trade reaching 106 billion USD last year and the 7th largest investor in Vietnam with a total registered capital of nearly 15 billion USD. In the first four months of this year, China was Vietnam’s biggest investor with new capital reaching 1.3 billion USD.