Hanoi (VNA) – A seminar promoting trade betweenVietnam and the Chinese province of Shandong took place in Hanoi on June 30.

The participating Chinese delegation includes 10 Shandong-basedfirms specialised in software and cloud computing, construction materials, exports-imports,steel pipes, valve, electrical equipment, farm produce, solar power, crane,mechanical engineering, automobile and motorbike spare parts.

Speaking at the event, Vice President of the Vietnam Chamberof Commerce and Industry (VCCI) Doan Duy Khuong said since 2004, China hasbecome Vietnam’s largest trade partner. It is also the largest importer ofcomputers and spare parts, natural rubber, coal and rice from the SoutheastAsian nation.

Deputy head of the Ministry of Planning and Investment’sForeign Investment Agency Dang Xuan Quang proposed encouraging Chineseinvestors, especially those in Shandong, to pour more into support industry,electricity and electronics, and consumer goods using modern and eco-friendlytechnology in Vietnam.

Vietnam eyes attracting private investment in key projectsin road and railway transport, and urban infrastructure in the form ofpublic-private partnership, he said, adding that the country will continueissuing policies to develop renewable energy and stand ready to offer allpossible support to investors in the field.

Vice President of the Shandong provincial Committee of theChinese People’s Political Consultative Conference Zhai Lu Ning, expressed hopethat more win-win business opportunities will be open up following the event.

Statistics showed that two-way trade between Vietnam andChina hit 71.9 billion USD last year, up 8 percent annually. Of the figure,21.97 billion USD was Vietnam’s exports, marking a 28.4 percent rise. Tradedeficit reached 27.96 billion USD, down 13.67 percent.

As of May, the bilateral trade surged 23.6 percent to 32.7billion USD, 10.6 billion USD of which was Vietnam’s exports, up 41.9 percent,while imports went up 16.4 percent.

China was the eighth largest investor out of 119 countriesand territories investing in Vietnam with 1,683 projects worth 11.6 billionUSD, mostly in manufacturing industry, energy, real estate, garment,electronics, and services.-VNA