Fujian (VNA) – Vietnam encourages Chinese businesses, includingthose from Fujian province, to invest in projects using high technology in thecountry, President Tran Dai Quang said at an economic-trade cooperation seminaron May 13.

The seminar was held in Fuzhou city of Fujianprovince, attracting representatives of nearly 300 businesses of Vietnam andChina.

President Quang, who is on a State visit toChina, stressed that with total registered investment capital of over 11.2billion USD, China is one of the 10 biggest foreign investors in Vietnam. Itremains the biggest trade partner of Vietnam for more than 10 years withbilateral trade approximating 72 billion USD in 2016.

Thanks to favourable sea, road and airconnectivity, Vietnam is a gateway for China’s products to enter ASEAN marketsand is the largest trade partner of China in ASEAN.

He added aside from a number of famousdestinations like Ha Long Bay, Da Nang city and Nha Trang city, the continuousopening of air routes will help attract more and more Chinese tourists toVietnam.

Targeting a green economy, sustainabledevelopment and average GDP growth rate of 6.5-7 percent by 2020, Vietnamtreasures all resources, of which private businesses and foreign investment areimportant driving forces for economic growth. It is also working to improve theinvestment environment and national competitiveness to attract more domesticand foreign resources, he noted.

The Vietnamese leader asked enterprises ofVietnam and China to continue initiating innovative ideas in order to create a newmomentum for bilateral economic partnership, especially in trade andinvestment.

He suggested Chinese companies invest in infrastructurebuilding, logistics, electronics and support industries while protecting theenvironment and actively engaging in social activities in Vietnam.

While the ASEAN-China Free Trade Agreementalready came into force, the two neighbouring countries boast favourabletransport connectivity and many products for consumption and manufacturing thatthe other country does not have. Basing on that fact, they targets balancedtrade at 100 billion USD in the near future.

President Quang asked the two sides tofacilitate their strong products’ access to each other’s markets.

Giving an introduction of Fujian, Governor ofthe province Yu Weiguo highlighted the close relationship between Fujian andVietnamese people and the two sides’ economic links.

Trade between Fujian and Vietnam reached 3.4billion USD in 2016, up 13.8 percent year on year, and 820 million USD in thefirst quarter of 2017. In the last three months, 35 businesses of Fujianinvested 270 million USD in Vietnam.

Yu emphasised that economic, trade andinvestment relations with Vietnam are one of the driving forces of theprovince’s development. He described the establishment of the friendshiprelationship with Vietnam’s Quang Ninh province during President Quang’s Statevisit as a milestone in Fujian’s development.-VNA