Vietnam, China Businesses Strengthen Cooperation in Cement Production

 

The conference, held in Hanoi by the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with ASEAN - China Trade and Investment Promotion Committee, aimed to strengthen and promote the cooperation in developing the cement production technology and equipment, and to create opportunities for Vietnamese and Chinese companies to exchange information and seek business cooperation opportunities.

 

Mr Pham Quang Thinh, Deputy Director of International Relations Department, VCCI, said: Vietnam and China have completed a significant year of 2010 in bilateral relations, highlighted by the 60th diplomatic relations establishment anniversary, and the first “Vietnam China - Friendship Year” initiated by leaders of the two nations. Also, in 2010, the ASEAN - China Free Trade Area (ACFTA) was officially enforced with commitments on strong reductions in tariffs by both China and ASEAN countries. Many items will be imposed import duty from 0-5 percent, including agricultural and industrial products.

 

According to statistics, the bilateral trade between Vietnam and China has rapidly expanded, with an annual average growth of 32 percent from 2000 to 2010. In 2009, notwithstanding adverse impacts of global financial crisis and economic downturn, the two-way trade revenue topped US$21.35 billion, up 5.04 percent compared with 2008. The value was estimated to reach US$25 billion in 2010.

 

In addition, China invested 749 projects with a total registered investment capital of more than US$3 billion in Vietnam as of December 21, 2010, ranking 14th out of 92 countries and territories investing in the country. According to Mr Thinh, the smooth and successful implementation of most projects benefit investors and both countries. However, this result is incommensurate with nice political relations, friendly cooperation, potentials and advantages as well as desires of the Governments and peoples of the two countries.

 

Mr Thinh said, with advantages and opportunities of close cooperation in the past years, the two companies should take advantage of these opportunities to promote cooperation in trade, investment and production as this brings real benefits for businesses of the two countries on the one hand and contributes to the prosperity of both Vietnam and China on the other.

 

"Vietnam, which is in the process of integration, has weathered impacts of global economic crisis and is developing dynamically. In 2009, Vietnam was one of few growing economies in the world, with GDP expansion by 5.32 percent. To maintain the growth momentum and develop, Vietnam needs to focus on investing in industrial modernisation and infrastructure construction. At present, the demand for cement, specially advanced cement production machines and equipment, is rising. Thus, the cooperation with Vietnamese companies to this effect will help boost the development of Vietnam,” said Thinh.

 

For the purpose of establishing relationships, advertising products, transferring technologies and seeking opportunities of investment cooperation with Vietnamese partners, Chinese visiting firms presented advanced technologies and investment opportunities. A representative of the Nanjing Xifu Cement Group, one of largest producer of cement and equipment in China, said his group entered the Vietnamese market in 2004 and helped many Vietnamese partners to build cement production lines. In the coming time, the group will support and cooperate more strongly with Vietnamese enterprises to transfer advanced technologies for production of high-quality cement.