Vietnamese, Chinese business associations cooperate in industrial development
The Hanoi Supporting Industries Business Association (HANSIBA) and Association for Trade Promotion of Small and Medium-sized Enterprises (SMEs) of China’s Suzhou city on May 9 signed a Memorandum of Understanding (MoU) for cooperation in industrial development.
Hanoi (VNA) - The Hanoi Supporting Industries Business Association (HANSIBA) and Association for Trade Promotion of Small and Medium-sized Enterprises (SMEs) of China’s Suzhou city on May 9 signed a Memorandum of Understanding (MoU) for cooperation in industrial development.
Speaking at the signing ceremony, Nguyen Hoang, Chairman of HANSIBA, said that Vietnamese businesses wish to cooperate with international partners, including those from Suzhou city to tap the potential market of industrial products and accessories in both the ASEAN region and the world.
Hanoi boasts specialised industrial parks for supporting industries and high te🐻chnology developed under a new generation ecosystem with full facilities to serve the demand of manufacturers, Hoang noted. Ent🌼erprises in the city are also capable of operating hi-tech production chains.
The official emphasised that the association has offered preferential policies for high-tech enterprises manufacturing in Vietnam, including those from Suzhou city.
In terms of traffic and geography, Vietnam and China share a border of almost 1,400 km, which facilitates the transport of products to markets in the world in the most convenient and cheapest way, he said.
Pan DongMing, acting head of the Association for Trade Promotion of Small and Medium-sized Enterprises (SMEs) of Suzhou city said regarding geographical advantages, enterprises in Suzhou have a great advantage because Suzhou is close to Shanghai city and seaports.
It takes a week to transport goods from Shanghai to Hanoi by waterways, he said adding th꧒ᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚat it takes only 2-3 days via roads./
The capital city of Hanoi was named among the country’s top 10 localities in exports in 2022 in the latest annual report on imports and exports unveiled by the Ministry of Industry and Trae (MoIT) on April 27.
The capital city of Hanoi attracted over 1.7 billion USD of foreign direct investment (FDI) in the first four months of this year with 103 new projects worth 35.2 million USD and 50 projects permitted to increase investment capital by 91.8 million USD.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
At the signing ceremony. (Photo: VNA)
