Forum highlights Chinese investment flows into Vietnam

Vietnam’s sustained economic growth continues to attract significant Chinese investment, as highlighted at an investment and trade forum between Ho Chi Minh City and China’s Guangdong-Hong Kong-Macao Greater Bay Area (GBA) on December 17.

Speaking at the forum, Mr. Vo Van Hoan, Vice Chairman of the southern city's People's Committee, underscored the strong and growing cooperation between Vietnam and China, particularly the GBA, across diverse sectors such as economy, trade, investment, and tourism.

Vietnam currently stands as China's largest trading partner within ASEAN and fourth globally. China is also Vietnam’s largest source of imports and the second-largest destination for Vietnamese exports.

Notably, China led in new investment projects in Vietnam during the first seven months of 2024, with 540 projects – representing 29.7% of total new investments – totaling $1.22 billion. HCM City itself boasts the highest number of Chinese investment projects, with 731 currently underway.

With a projected GRDP growth rate of 7.17% in 2024 and a population approaching 10 million, the city offers a substantial and promising market for foreign investors, including those from China, Mr. Hoan noted.

Ms. Tran Thi Hai Yen, Director of the Investment Promotion Center  – South Vietnam, further emphasized the appeal of Vietnam's southern key economic region.

Centered around Ho Chi Minh City and neighboring provinces like Dong Nai, Binh Duong, and Ba Ria-Vung Tau, the region’s strategic location, developed infrastructure, and readily available workforce have attracted significant foreign direct investment (FDI) into sectors like industrial manufacturing, high technology, logistics, and renewable energy.

The forum also saw the participation of a 60-member delegation of business leaders and experts from the GBA Entrepreneurs Alliance, which, according to Chairman Jonathan Choi, demonstrates Vietnam’s appeal as a dynamic investment destination.

Mr. Choi stressed that Vietnam is now a crucial economic and trade partner for the GBA. He encouraged both sides to leverage the GBA's technological strengths and Vietnam's dynamic workforce to expand cooperation in emerging fields like artificial intelligence, advanced manufacturing, and green technology to drive sustainable and innovative economic growth.