Vietnam-China border regions strengthen cooperative ties

Cooperation between border regions of Vietnam and China has helped improve living conditions for inhabitants and boost the socio-economic development of both sides, said Deputy Prime Minister Pham Gia Khiem.

Mr Khiem made the remarks at a conference held in Hanoi on Nov. 20 to review the economic corridor cooperation between Hanoi, Lao Cai, Hai Phong and Quang Ninh of Vietnam and Yunnan of China.

Participants said that cooperation among these localities brought about positive and comprehensive results in various fields, particularly in trade, investment and services despite adverse impact of the global financial crisis and economic downturn.

At present, Yunnan province has 57 businesses operating in Vietnam with a total investment capital of US$115 million. Two-way trade turnover via Lao Cai-Hekou border gate was estimated at US430 million in 2009. The Chairman of Yunnan province said that Vietnamese localities have become Yunnan’s second largest trade partner.

Recently, Hanoi granted 7 Yunnan businesses licenses to set up representative offices in the city. Also, four commercial banks in Lao Cai province were allowed to provide international payment services to commercial banks in Yunnan province.

In addition, Vietnam-China border regions have effectively cooperated in other fields, such as transport, tourism, culture and education. Some key traffic routes are being developed, including the Hanoi-Lao Cai, Noi Bai-Ha Long, and Mong Duong-Mong Cai highways. A Vietnam-China bridge crossing the Red River is being built, while maritime transport of goods on the Kunming-Quang Ninh-Hai Phong route has been strengthened.

Nguyen Huu Van, Chairman of the Lao Cai provincial People’s Committee, said that once the traffic network on the economic corridor route is completed, trade and investment cooperation between Vietnam and China will be further accelerated.

In the future, border regions between the two countries will focus on trade and investment promotion, tourism development, transport investment, cultural exchange, healthcare services, epidemic prevention, agricultural development and cooperation in social issues.

VietNamNet/VOV

Tags: Vietnam business news, Vietnam-China corporation