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VN vows to assist Chinese investors

Update: October, 16/2013 - 09:31
Viet Nam was willing to create the most favourable conditions for Chinese enterprises to foster bilateral relations in economy, trade and investment with local partners, PM Nguyen Tan Dung told a meeting yesterday in Ha Noi.—VNA/VNS Photo

HA NOI (VNS)— Viet Nam was willing to create the most favourable conditions for Chinese enterprises to foster bilateral relations in economy, trade and investment with local partners, PM Nguyen Tan Dung told a meeting yesterday in Ha Noi.

Two-way trade and investment ties, despite experiencing significant achievements in recent years, had failed to match the expectations and potential of the two countries, the PM said.

He suggested that the two business communities should speed up co-operation, especially when Viet Nam was making efforts to conclude several important agreements such as the Free Trade Agreement with the EU and the Trans – Pacific Strategic Economic Partnership Agreement.

These agreements, once effective, would open up huge business opportunities for Vietnamese firms and foreign companies, including Chinese, he said.

During the event, Chinese Premier Li Keqiang spoke highly of relations between the two countries, particularly in trade and investment, adding that China always welcomed Vietnamese investment.

China is now Viet Nam's largest trade partner, while Viet Nam is one of China's most important trade partners within the ASEAN bloc. Bilateral trade is well on track to reaching the target of US$60 billion turnover by 2015.

Vietnamese, Chinese companies build coal-fired power plant

The Vinh Tan 3 Energy Joint Stock Company (VTEC) has teamed up with the Chinese Harbin Electric Company to build the US$1.1 billion Vinh Tan 3 coal-fired thermal power plant in central Binh Thuan Province.

At a contract-signing ceremony in Ha Noi on Monday, Hoang Quoc Vuong, chairman of Viet Nam Electricity (EVN) said the plant will consist of three turbine groups with a capacity of 1,980MW.

The plant will use imported coal to generate over 12 billion kWh a year, which will help ease power shortages in the southern region.

Construction would start in the third quarter of 2014, and the plant's first turbine was expected to go into operation in 2018, he said. — VNS


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