75 years of Vietnam - China relations: Strengthening business connections

The program is a practical bridge to help Vietnamese businesses introduce and exchange directly with buyers, distribution systems, and industry associations in China.

Photo caption — Mr. Nong Duc Lai, Commercial Counselor, spoke at the Conference.

Speaking at the conference, Vietnamese Trade Counselor in China Nong Duc Lai said that over the past years, under the strategic direction of the two countries' senior leaders, Vietnam-China economic and trade relations have achieved many outstanding results. China has been Vietnam's largest trade partner for more than 20 consecutive years. In 2024, bilateral trade turnover will exceed 200 billion USD, Vietnam will also become China's fourth largest trade partner and China's largest partner in the Association of Southeast Asian Nations (ASEAN).

According to Mr. Nong Duc Lai, Vietnam is currently emerging as a bright spot in the global economy thanks to stable growth, strong domestic demand, developing international trade and attracting foreign investment maintained at a high level. In 2024, Vietnam's total import-export turnover will reach 786.3 billion USD, putting Vietnam in the group of 20 largest trading economies in the world .

Vietnam has signed 17 free trade agreements with more than 60 economies, creating conditions for Vietnamese goods to deeply access major markets. In terms of investment attraction, in 2024, Vietnam will receive 38.2 billion USD in Foreign Direct Investment (FDI) from 114 countries and territories. China ranked third, with 4.7 billion USD, but led in the number of new projects, accounting for 28.3% of the total number of projects. Vietnam is also promoting strategic infrastructure projects in energy, highways, railways, seaports and aviation, opening up many new opportunities for international investors.

Mr. Nong Duc Lai said that this event not only aims to connect businesses of the two countries directly but also invites deeper cooperation, encourages Chinese businesses and associations to visit Vietnam to conduct field surveys and seek investment and trade opportunities. Vietnam pledges to continue to create favorable conditions and act as a bridge to promote economic and trade cooperation between the two countries.

Chinese business and industry association delegates attending the conference highly appreciated the potential for investment cooperation in Vietnam, especially in the fields of processed agricultural products, supporting industries, e-commerce and logistics. Many Chinese businesses believe that Vietnam is emerging as an attractive investment destination thanks to its stable business environment, young workforce, wide network of free trade agreements (FTAs) and increasingly favorable investment attraction policies.

In an interview with VNA in Beijing, Ms. Sun Shuting, General Director of Jiangsu Haiford Co., Ltd., said that her company has cooperated with Vietnamese partners for nearly 10 years, stably importing items such as tra fish, shrimp, octopus and many other aquatic products.

Assessing the quality of Vietnamese goods, Ms. Ton Thuc Dinh said that natural products, without additives, as well as products with typical Vietnamese culinary culture such as vermicelli, glass noodles, coffee, etc. are very suitable for current consumer tastes in China. She said that the company has imported Vietnamese rice and is continuing to survey many other potential products such as lobster, squid, octopus, dried fish, dried mango, dried jackfruit, coconut water and some frozen products.

Regarding cooperation prospects, Ms. Ton Thuc Dinh commented that Vietnam has a great advantage thanks to its strategic partnership with China, its unique climate and soil conditions that produce many famous local products such as cashew nuts, coffee, tropical fruits or honey. She said that the company is promoting exports through the JD.com platform to open more "windows" for Vietnamese goods to penetrate the Chinese market through cross-border e-commerce. This model helps many Vietnamese products to access faster, without the need for complicated procedures like traditional trade, and is suitable for the group of Chinese customers who prefer high-quality products.

The event is considered one of the important economic and trade activities in the series of programs celebrating the 75th anniversary of the establishment of Vietnam-China diplomatic relations in 2025.

Source: https://baotintuc.vn/kinh-te/75-nam-quan-he-viet-nam-trung-quoc-tang-cuong-ket-noi-doanh-nghiep-20251201114926642.htm