Vietnam sees growing number of Chinese investors: forum

Representatives of Chinese businesses at the investment and trade forum between Ho Chi Minh City and China’s Guangdong-Hong Kong-Macao Greater Bay Area (GBA) on December 17. (Photo: VNA)

HCM City – With sustained economic growth over years, Vietnam continues to impress and attract an increasing number of Chinese investors, participants said at an investment and trade forum between Ho Chi Minh City and China’s Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in the southern economic hub on December 17.

Addressing the forum, Vice Chairman of the municipal People’s Committee Vo Van Hoan highlighted the robust development of cooperation between Vietnam and China, particularly the GBA, across various fields, including economy, trade, investment, and tourism.

Vietnam is currently the largest trading partner of China in ASEAN and the fourth globally. Meanwhile, China is the biggest exporter of goods to Vietnam and ranks second among importers of Vietnamese commodities. It also took the lead in the number of new investment projects in the Southeast Asian country during the first seven months of 2024, registering 540 projects – equivalent to 29.7% of total new investments – worth 1.22 billion USD.

HCM City is now home to the most number of investment projects from China, 731, he noted.

The metropolis, with a projected GDP growth rate of 7.17% in 2024 and a population nearing 10 million, offers a vast and promising market for foreign businesses, including those from China, Hoan added.

Tran Thi Hai Yen, Director of the Investment Promotion Centre - South Vietnam under the Ministry of Planning and Investment’s Foreign Investment Agency, also pointed out the appeal of Vietnam’s southern key economic region, centred around HCM City and neighbouring provinces such as Dong Nai, Binh Duong, and Ba Ria-Vung Tau. Thanks to its strategic location, developed transport infrastructure, and abundant workforce, the region has become a magnet for foreign direct investment (FDI) in key sectors like industrial manufacturing, high technology, logistics, and renewable energy.

Jonathan Choi, Chairman of the GBA Entrepreneurs Alliance, remarked that the visit by a delegation of 60 business leaders and experts from the alliance reflects Vietnam’s appeal as a dynamic investment destination.

Vietnam has become an important economic and trade partner for the GBA, he said, recommending both sides capitalise on the GBA's technological advantages and Vietnam's dynamic workforce to carry out more cooperation projects in areas such as artificial intelligence, advanced manufacturing, and green technology, to lead their economies toward a future of innovation and sustainable development.

Jesse Choi, a representative of the GBA Alliance in Vietnam, noted that beyond seeking business opportunities in Vietnam, the alliance is leveraging its strengths in technology, finance, manufacturing, and innovation to support Vietnamese businesses in accessing the Chinese market and fostering long-term partnerships./.