Seminar introducing Vietnam's business and investment environment in Wuxi, China

The Vietnamese Consulate General in Shanghai is ready to act as a bridge to support Wuxi businesses in surveying the market and seeking investment and business opportunities in Vietnam.

Delegates attending the Seminar.

On June 6 in Wuxi city, the Vietnamese Consulate General in Shanghai in coordination with the Department of Commerce of Wuxi city, Jiangsu province, China organized a "Seminar on business and investment environment in Vietnam".

Attending the event were leaders of the Department of Commerce, the Customs Reform and Development Commission, the Wuxi City Foreign Exchange Administration and nearly 80 enterprises operating in the fields of textiles, logistics, electronics, electricity, manufacturing, etc.

Speaking at the opening of the seminar, Consul General Nguyen The Tung emphasized that along with the positive development trend of the Vietnam-China Comprehensive Strategic Cooperative Partnership, the economic and trade relations between Jiangsu province in general and Wuxi city in particular with Vietnam have continuously achieved many practical results.

With the advantages of geographical proximity, convenient transportation, a stable political environment with many open and preferential policies, Vietnam is the top choice for foreign investors, including China.

Consul General Nguyen The Tung delivered the opening speech at the Seminar.

Vietnam welcomes Chinese enterprises to increase investment in areas that are consistent with Vietnam's development orientation, such as supporting industries, agriculture , high-tech industries, transport infrastructure, urban areas, environmental technology, etc.

The Vietnamese Consulate General in Shanghai is ready to act as a bridge to support Wuxi businesses in surveying the market and seeking investment and business opportunities in Vietnam.

Ms. Tran Ha Trang, Consul in charge of economics and trade, introduced Vietnam's investment and business environment and preferential policies.

Introducing the socio-economic development situation, investment and business environment and preferential policies of Vietnam, Ms. Tran Ha Trang, Consul in charge of economics and trade, said that in addition to factors such as favorable geographical location on an important regional and international connection axis, Vietnam is a market with a population of nearly 100 million, of which 70% are of working age, hard-working and quite skilled. Vietnam is also considered a country with a high and stable economic growth rate, reliable investment policies, upgraded by S&P Credit Rating Organization to BB, with a "stable" outlook; and rated by EuroCham as one of the top 5 most attractive investment destinations globally.

In addition, Vietnam is deeply integrating with the region and the world through a series of bilateral and multilateral trade agreements, including new-generation high-quality FTAs ​​such as CPTPP, EVFTA, RCEP, helping Vietnam establish an economic-trade cooperation network with all G7 and G20 member countries.

Speaking at the seminar, Mr. Liu Xiyou, Deputy Director of the Wuxi City Department of Commerce, affirmed the growing attraction of the Vietnamese market to Wuxi enterprises in particular and China in general. With a population of 7.49 million people, Wuxi's GDP in 2022 will exceed 1.48 trillion yuan (equivalent to 207 billion USD), with a GDP per capita of 198,000 yuan (27,766 USD), ranking first in China.

In recent years, promoting local enterprises to invest abroad has been a major policy of interest and promotion of the city. Hopefully, through this discussion, Wuxi enterprises will update more on Vietnam's investment policies and find many opportunities for long-term development in the future.

Enterprises participating in the Seminar asked many questions related to priority areas and investment and business registration procedures in Vietnam.

On behalf of a number of enterprises currently investing in Vietnam, Jiangsu Phoenix Paint Materials Technology Co., Ltd. and Jiangsu Jialida International Logistics Co., Ltd. shared their experiences in implementing investments in Vietnam, highly appreciating the development as well as favorable conditions for doing business and investing in Vietnam.

Enterprises participating in the Seminar also asked many questions related to priority areas and investment and business registration procedures in Vietnam.

Wuxi is a large city in Jiangsu Province, China, with an area of ​​4,787 square kilometers and a population of 4.47 million. In 2022, Wuxi's bilateral trade turnover with Vietnam reached 3.27 billion USD, an increase of 9.1% over the same period in 2021.

Currently, Wuxi Enterprises has 52 investment projects in Vietnam, with a total investment capital of 120 million USD, creating more than 1,600 jobs locally, mainly concentrated in the southern provinces such as Tay Ninh and Binh Duong.

Source: https://baoquocte.vn/toa-dam-gioi-thieu-moi-truong-kinh-doanh-dau-tu-cua-viet-nam-tai-vo-tich-trung-quoc-230103.html