Vietnam: China becomes the 4th largest foreign investor

02/09/2019

 

China plans a four-month investment project that includes major projects funded by Chinese investors

 

China continues to invest in Asian countries and this time focuses on Vietnam. In fact, this year China has invested around 1.6 billion US dollars in the country. With this sum, according to the Vietnam News newspaper and the foreign investment agency of the Vietnamese Planning and Investment Ministry, China is now Vietnam’s fourth-largest source of foreign investment.

The Chinese financing project involves the production of tires with registered capital of $ 280 million in the southern province of Tay Ninh and another tire project with registered capital of $ 214.4 million in the southern province of Tien Giang.

 

China is also the main export market for Vietnam’s agricultural and aquatic products

 

According to the Vietnamese newspaper Industry and Trade, China has been Vietnam’s main trading partner since 2004 and bilateral trade has continued to grow strongly in recent years. Moreover, China is currently Vietnam’s second-largest export market after the United States.

Cao Huu Hieu, the executive director of Vietnam’s national apparel and textile group, said that companies’ efforts to boost exports to the Chinese market was one of the highlights that contributed to the growth of the textile industry and clothing from Vietnam

 

 

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