According to Consul General Vu Viet Anh, Guangdong’s economy focuses on manufacturing, processing agricultural products and food, and microbiological and telecommunications technologies. The locality boasts huge potential for cooperation with Vietnam.

In addition to agreements signed between the two nations, Vietnam and Guangdong province also have a mechanism to organise conferences reviewing economic, trade and investment cooperation between ministries, sectors and localities of Vietnam and Guangdong authorities, which was established in 2009.

Economic, trade, and investment cooperation between localities of Vietnam and Guangdong has recorded many achievements.

Statistics from China Customs showed that the trade turnover between Vietnam and Guangdong in 2022 reached 47 billion USD, accounting for 20.1% of the total import and export turnover between Vietnam and China. The figure hit 10.2 billion USD in the first three months of this year.

Businesses in Guangdong have invested billions of USD in Vietnam. The Shenzhen - Hai Phong Economic and Trade Zone invested by Shenzhen Shen Yue Joint Investment Company is one of the typical investment projects of Guangdong in Vietnam.

Anh said his office has worked hard on looking for Chinese partners and investors who use advanced technologies in production, and those interested in investing in Vietnam, and encouraged them to invest in areas where Vietnam has high demand such as green and sustainable development sustainability, new energy, and biomedical technology. It has also supported Vietnamese localities, ministries, and businesses to access the Chinese market.

In 2022, the Consulate General hosted or jointly organised a series of seminars and trade promotion conferences in order to stimulate economic, trade, and investment cooperation with Guangdong province, Anh said.

 Source: en.vietnamplus.vn/vietnam-eyes-stronger-economic-cooperation-with-chinas-guangdong-province/253234.vnp