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Vietnam to promote trade ties with western China
Updated: 2004-07-22 14:46

Vietnam hopes to promote economic and trade relations with China's western region, especially the two southwestern provinces of Guangxi and Yunnan.

Hoang Truong Ky, vice chairman of the People's Committee of Vietnamese northern Vinh Phuc province, made the remarks while meeting a Chinese media delegation led by Zhang Jin, vice secretary general of the official Xinhua News Agency, on Wednesday.

Vietnam and China's western region should enhance friendly and cooperative ties to help boost the comprehensive economic and trade cooperation between the two countries, he said, citing that the region's economic development, culture and custom are much similar to those of Vietnam.

Regarding development of the economic and trade cooperation, Vinh Phuc acts as an important bridge linking China's western region with Vietnam's northern cities and provinces. Its significance is enhanced as the Vietnamese government is actively upgrading the national road No. 2 and building the rail route of Kunming-Lao Cai-Hanoi-Hai Phong as part of the establishment of an economic corridor connecting the four localities together.

The fact that the road and the future route go through Vinh Phuc will create more favorable conditions for the province's economic development, especially foreign investment attraction, Ky stressed.

Vinh Phuc has recorded an annual average gross domestic product (GDP) growth rate of 14.7 percent over the past three years, he said, stressing that its GDP growth stood at 17.6 percent last year, much higher than Vietnam's growth of 7.24 percent.

Vinh Phuc has licensed 60 foreign-invested projects worth US$600 million, including nine Chinese-backed ones with a combined capital of US$33.2 million in the last seven years, becoming one of the northern localities with the strongest economic development and the fastest pace of foreign investment attraction.

Ky hoped that more Chinese enterprises will pour investments into Vietnam, and that the economic and trade ties between Yunnan and Guangxi and Vietnamese northern localities will develop unceasingly.

Ky also hoped that the media of Vietnam and China will strengthen exchanges and cooperation, serving as a bridge to help enterprises of the two countries have better mutual understanding, and step up the bilateral economic and trade ties.

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