Q1 2023 Vietnam-China's Guangdong trade turnover worth $10.2 bn

19 May '23

2 min read

Pic: Shutterstock

Insights

Trade turnover between Vietnam and China's Guangdong province was worth $10.2 billion in the first three months of this year.
A memorandum of understanding to promote bilateral cooperation between the Vietnamese ministry of industry and trade and the ministry of industry and information technology of China is expected to be signed this year.

In the first quarter of this year, trade turnover between Vietnam and China’s Guangdong province was worth $10.2 billion. Last year, it had reached $47 billion, accounting for 20.1 per cent of the total import and export turnover between both sides.

Guangdong-based businesses have invested billions of dollars 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.

Vietnamese consul general Guangdong Vu Viet 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 and new energy, a news agency reported.

It has also supported Vietnamese localities, ministries and businesses to access the Chinese market.

Vietnam will participate in the 18th China International Small- and Medium-sized Enterprises Fair and the 2nd China International Small and Medium Enterprises Forum in Guangzhou from June 27 to 30.

Vietnam will organise a Vietnam-China investment promotion conference to attract investment to its industrial parks.

A memorandum of understanding to promote bilateral cooperation between the Vietnamese ministry of industry and trade and China’s ministry of industry and information technology is expected to be signed as well.

Fibre2Fashion News Desk (DS)

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