China looks to Vietnam for joint ventures
HANOI - Vietnamese industries are attracting attention from Chinese enterprises looking to engage in joint ventures with its Southeast Asian neighbor. "Chinese enterprises are especially willing to establish joint ventures with Vietnamese paper and fertilizer industries," Zhang Xiaolan, vice president of the Trade Promotion Association based in Shandong province, said at seminar on Vietnam-Shandong trade promotion in Hanoi last week.
Chinese enterprises, he said, would supply Vietnamese producers with pulp materials, additives and advanced equipment and technology according to their requirements. The seminar was held by the Ministry of Trade's Trade Promotion Agency and received many Vietnamese enterprises as well as more than 40 enterprises from Shandong province involved in 30 various industries.
Xiaolan told the seminar that electrical and chemical products, raw medical and building materials, light industrial products, handicraft products, and textiles and garments were also among the required industries. Qiu Hengxu, director of the Shicheng External Trade Department, said Chinese enterprises were prepared to immediately carry out investment projects in Vietnam.
One company has already suggested the instalment of a carton production line, capable of producing 12 million square meters a year, and the construction of a modern-equipped workshop to manufacture nylon bags, luggage trunks and color packing. Representatives of the Yang Guangfei Company said they came to Vietnam in the hope of finding a partner for the construction of a fertilizer plant. Some other Chinese companies expressed their desire to supply materials to Vietnamese companies to produce organic fertilizers for the Chinese market.
Last Thursday, more than 40 enterprises from China's Yunnan province made a working visit to seek business contracts in Ho Chi Minh City. During the visit, they discussed investment opportunities with nearly 100 Vietnamese enterprises in the areas of science and technology, chemistry, native products, building materials and textiles. Yunnan guests said they could import many products from Vietnam, including minerals, rubber, seafood, vegetable oil, and products processed from rubber, cashew, cassava and rice. Vietnam imports fertilizer, cement, steel rods, agricultural machinery and electrical appliances from Yunnan.
Vietnam News Agency - December 22, 2004
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