VCCI Stimulates Business Expansion to China

The Vietnam Chamber of Commerce and Industry (VCCI) has recently announced a plan to encourage business expansion into China.

 

VCCI’s support package includes free air tickets to China for a selected business mission attending an international investment and trade fair in Xia Men from September 7-11 and to conduct market surveys in Guangzhou.

 

The fair will be jointly held by high-profile sponsors, namely the UN Conference on Trade and Development (UNCTAD), the UN Industrial Organization (UNIDO), the Organization for Economic Cooperation and Development (OECD), the International Finance Corporation IFC, the Investment Promotion through the Internet (WAIPA) and the China Council for the Promotion of International Trade (CCPIT).

 

Businesses and authorities from 31 provinces, cities and autonomies under the Chinese Central Government will also join in the event to present their own investment policies, investment projects and products, said the VCCI.

 

Due to lower competitiveness, Vietnam always incurs trade deficit with China which climbed to US$2.81 billion in 2005 and US$3.8 billion in 2006.

 

Vietnam aims to boost its exports to China to US$5.4 billion by 2010 and US$11.1 billion at 2015 to narrow the trade deficit,

 

The two neighbors have targeted to obtain bilateral trade revenues of US$15 billion in 2010. (VNA, Vietnam Panorama)