Vietnam, China augment cooperation along economic corridor

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The corridor’s 8th cooperation conference attracted more than 200 delegates, including representatives of the Consulate General of Vietnam in Yunnan’s Kunming city, the Vietnamese Foreign Ministry, the Chinese Embassy in Vietnam, authorities of the Vietnamese localities, and many businesses.

Chairman of the Hai Phong municipal People’s Committee Nguyen Van Tung said the conference is an initiative that aims to create prerequisites for diverse friendly exchanges and cooperation activities, especially in economy, between Vietnamese and Chinese localities.

He added the three-day event focuses on transport connection and cooperation in logistics development; trade and investment cooperation; tourism, educational and health care cooperation; and cooperation in currency and insurance works.

It is also hoped to witness the signing of cooperation documents on finance-currency, e-commerce and tourism between Vietnamese and Chinese companies. Notably, Hai Phong and Yunnan expect to reach consensus on an air route linking the Vietnamese city with Kunming and an express train connecting Hai Phong, Hanoi, Lao Cai and Kunming.

Chairman Tung said these are the most practical actions to realise the outcomes of the recent talks between General Secretary of the Communist Party of Vietnam Nguyen Phu Trong and General Secretary of the Communist Party of China and President of China Xi Jinping.

Enhanced transport connectivity is among the outcomes recorded since the economic corridor’s 7th cooperation conference in 2015. Hanoi-Hai Phong expressway and Tan Vu-Lach Huyen highway and sea-crossing bridge have been put into operation. These two transport projects are also connected to Hanoi-Lao Cai expressway, forming an expressway route from the mountainous province of Lao Cai to Hai Phong port.

When the construction of Hai Phong-Ha Long expressway completes in 2018, it will create an expressway network from Kunming to Ha Long, thus facilitating goods transport and tourism.

The Vietnamese Ministry of Transport is planning a rail route traversing Lao Cai, Hanoi and Hai Phong. It is also negotiating with China about connecting Lao Cai and Hekou North railway stations.

In terms of trade and investment cooperation, Lao Cai and Yunnan provinces have rotationally hosted the Vietnam-China border trade fairs. Businesses of the Vietnamese localities have also taken part in international fairs in China such as the Vietnam-China border trade fair, the China-South Asia Expo, and the Kunming Import & Export Commodities Fair.

Universities and educational establishments of Lao Cai, Hai Phong and Yunnan have maintained exchanges. Meanwhile, the provinces and cities along the corridors have also coordinated in promoting tourism. 

Eight of the 11 commercial banks of Lao Cai have inked agreements on cross-border trade payment with six commercial banks and credit cooperatives of Yunnan. Their cooperation has strongly supported businesses with import and export activities via Lao Cai International Border Gate, the conference heard.