Chinese investment and projects facilitate bilateral trade in Vietnam

China Plus/CCTV Published: 2017-11-12 20:56:17
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A China-backed light rail train is seen in Hanoi, Vietnam. [Photo: Xinhua]

A China-backed light rail train is seen in Hanoi, Vietnam. [Photo: Xinhua]

A number of new and soon-to-be-completed infrastructure projects, along with Chinese investment, in Vietnam have brought development opportunities to the southeast Asian country, as well new growth drivers for bilateral trade.

A new freight passageway linking China's Friendship Gate Port and Vietnam's Friendship Port has boosted trade between the two countries, increasing the volume of goods transported by 32 percent.

Opened on September 11th this year, the passageway is exclusively used for freight transport between the city of Pingxiang in China's Guangxi Zhuang Autonomous Region and Lang Son, capital of north Vietnam's Lang Son Province.

The passageway has sped up the customs clearance process and been well received by truck drivers from both countries.

Cao Guanghua is the Vice President of Guangxi HuaTai International Freight Agency, which oversees the project.

"In the past, the daily number of vehicles cleared at the border was between 800 to 1,000. After the new passageway was put into use, the number of vehicles has risen to 1,200. Now as different types of vehicles run on their respective lanes, the entire logistics order has been greatly improved," said Cao. 

Meanwhile, Vietnam's first urban light rail is expected to be fully operational next year.

The 13.5-kilometer Cat Linh-Ha Dong urban rail route in Hanoi was constructed by the China Railway Engineering Corporation, costing more than 800 million U.S. dollars.

Not only are technologies being provided and capital being offered but also a cross-cultural experience.

The Chinese company has not only trained staff to meet a high standard of management but has also sent some Vietnamese employees to China to get the first-hand knowledge about train operations.

Nguyen Ngoc Dong is Vietnam's deputy transport minister.

"We consider it a very important project, because Hanoi is a very big city with a population very high and traffic very heavy. That is one of the effective ways of solving traffic congestion in the capital of Vietnam. It's also the symbol of friendship between China and Vietnam," said Nguyen.

Chinese-invested enterprises in Vietnam have not only created job opportunities for local residents, but also brought employees a sense of security.

Bac Giang in northeast Vietnam is a major agricultural province.

With the country's effort to attract investment, the province has received more and more foreign investment.

Among 180 local foreign-invested companies, one third are Chinese enterprises.

Ngo Thi Thuy, born in Bac Giang, is an employee of Vina Solar Technology, the biggest Chinese solar panel manufacturer in Vietnam.

Humanized management of the company has brought her a sense of security and a sense of belonging.

"Before I took a vacation to give birth to my child, my boss told me to have a good rest and that he would keep the position for me. He said the company cannot lose you. It really touched me," said Ngo.

As the synergy grows between the Belt and Road Initiative and Vietnam's Two Corridors and One Economic Circle Plan, Chinese and Vietnamese enterprises are rapidly expanding cooperation.

The largest textile industrial base, energy base with the largest installed capacity, and the largest photovoltaic manufacturing base in Vietnam are all invested by Chinese companies.

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