China, Vietnam consolidate investment links

Hanoi (VNA) - The Chinese government attaches great importance to
increasing its investment ties with Vietnam , particularly with regard
to turnkey projects, a representative of the Chinese Embassy in Vietnam
said during a press briefing in Hanoi on Dec. 10.

Sharing this view, Chinese Trade Counsellor Hu Suo Jin pointed out that,
since the two countries established diplomatic ties in 1991, Vietnam and
China have recorded a total of 10 billion USD in turnkey contracts.
Vietnam is now China 's second largest turnkey project market, he said.

The Chinese Ministry of Trade will organise an exhibition featuring
mechanical engineering technology in Hanoi between Dec. 11-13, he added,
saying he hoped that the exhibition would offer opportunities for businesses
from both countries to stimulate investment cooperation and coordination to
help cope with the global financial crisis.

More than 40 Chinese businesses involved in the construction, engineering
and equipment manufacturing industries will be present at the exhibition,
showcasing the latest in advanced technologies, materials and equipment for
the civil engineering, power, telecom and irrigation sectors.

Vietnam and China have experienced rapid development in trade
cooperation and China has become one of Vietnam 's leading trade
partners.

During the first ten months of 2008, the two countries' bilateral trade
turnover surpassed 17 billion USD, a year-on-year increase of 43 percent and
1 billion USD more than 2007's figure.

The figure is expected to hit 21 billion USD for the whole year.-Enditem