Workers process for-export shrimp. Vietnam and China have effectively cooperated in trading farm produce, including fishery products. (Photo: VNA)
The ninth session of the Vietnam-China trade and economic cooperation committee took place in Beijing on October 20.
Deputy Minister of Industry and Trade Nguyen Cam Tu and Vietnamese Ambassador to China Dang Minh Khoi participated in the event.
The two sides briefed each other on the economic situation in their respective countries and exchanged opinions on how to propel the bilateral economic ties forward.
They acknowledged that since the eighth session, relations between Vietnam and China have seen notable strides. Bilateral trade topped 59 billion USD in 2014; China continues to be one of the biggest trade partners of Vietnam and Vietnam has become the second largest trade partner of China in ASEAN.
According to the General Department of Vietnam Customs, bilateral trade was 49.16 billion USD as of September this year, a year-on-year increase of 16.1 percent.
Both nations agreed to exchange measures to realise the target of 100 billion USD in bilateral trade in 2017 as set by their leaders and gradually address trade deficits from China.
They will continue to effectively carry out the Memorandum of Understanding on cooperating in trading farm produce to promote Vietnamese agricultural and aquatic product exports to China.
They pledged to support businesses to speed up the implementation and ensure the quality of China’s engineering, procurement and construction projects underway in Vietnam as well as its preferential credit packages to build infrastructure and transport projects in the Southeast Asian country.
The two sides concurred to increase coordination between ministries and sectors to weather business hurdles and enhance the comprehensive strategic cooperative partnership between the two countries.-VNA
The 15th Vietnam-China International Trade Fair will take place from November 12-17 in the northern border province of Lao Cai to promote cooperation and friendship between participating countries.
Vietnamese Deputy Prime Minister Nguyen Xuan Phuc and Chinese Vice-Premier Zhang Gaoli reiterated the two countries’ policy of treasuring their relationship during talks in Beijing, China.
Vietnam and China held the first ministerial-level session of the working group on land infrastructure cooperation in Beijing on October 15 to seek more practical and effective cooperation mechanisms.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Workers process for-export shrimp. Vietnam and China have effectively cooperated in trading farm produce, including fishery products. (Photo: VNA)
