Energy-related uncertainties in China have led many investors to look for alternatives. Vietnam is deemed a good choice due, among other things, to the stability of its power network.
Electricity shortages in China have led to a decline in the supply of iron, steel, and cement, opening up export opportunities for Vietnamese firms. The opportunity will be short-term, however, as China is likely to soon restore supply.
The 13th meeting of the Vietnam-China Steering Committee for bilateral cooperation was held in Hanoi on September 10 under the co-chairmanship of Standing Deputy Prime Minister Pham Binh Minh and Mr. Wang Yi, State Councilor and Foreign Minister of China.
Deputy Minister of Agriculture and Rural Development Phung Duc Tien has requested that localities in northern provinces with border gates ensure the continued distribution of agricultural products across borders. He also asked that careful preparations be made for the export of Vietnamese agricultural products to China when new regulations are applied from 2022.