CHINA> Regional
Conference on Vietnam-China economic corridor opens in Hanoi
Updated: 2009-11-20 16:41

HANOI: The fifth conference on cooperation in the economic corridor between China's Yunnan province and four Vietnamese localities of Hanoi, Lao Cai, Hai Phong and Quang Ninh opened here on Friday.

Participation in the conference includes provincial authorities of China's Yunnan province, relevant agencies of China, the Chinese embassy in Vietnam, authorities of four localities of Vietnam and relevant Vietnamese ministries and agencies.

Vietnamese Deputy Prime Minister and Minister of Foreign Affairs Pham Gia Khiem said at the conference that the development of an economic corridor linking Kunming, the capital of Yunnan province, and four Vietnamese localities under the cooperation framework of "two economic corridors and one belt", signed by the two countries in 2006, is of great significance.

The development of the economic corridor will promote bilateral cooperation on transport, tourism, health, environment, science and technology, agriculture and education and training, said Khiem.

Vice Governor of Chinese Yunnan province Gu Chaoxi said that the cooperation between Yunnan and four Vietnamese localities in the past five years have seen fine development in all fields. Yunnan wants to boost cooperation with the Vietnamese side in the fields of mining, agriculture, tourism, processing sectors and manufacturing.

During the conference, discussion will focus on reviewing the implementations of the minutes of the fourth conference that were signed in northern Quang Ninh province of Vietnam last year. Participants will also work out measures to intensify cooperation in all fields in the context of impacts of the global economic downturn, especially trade and investment, tourism, transportation, education, culture, sports and health care.

Despite the impacts of the global economic crisis, the two-way trade between Vietnam an China's Yunnan province went up 10.5 percent year-on-year in the first 10 months this year to US$616 million, according to the statistics at the conference.

In the first 10 months this year, China has poured US$2.7 billion in 657 projects in Vietnam, ranking 15th among 88 countries and regions having investment in Vietnam, according to a report of the Ministry of Planning and Investment.

Vietnam currently has nine projects in China with total registered capital of US$13 million, said the Ministry of Planning and Investment.