Ho Chi Minh City, an economic hub in southern Vietnam, wishes to promote multifaceted cooperation with Shandong Province and other Chinese localities along the Huang He River (Yellow River), the city’s vice-mayor Nguyen Van Dung said.

Dung was making the remark at a trading conference held by local authorities in District 1 on Monday.

The event was organized in collaboration with the Chinese Consulate General in the city and the Shandong administration.

The event was attended by officials from the host city, the consulate general, and the authorities of Shandong along with other Chinese localities, focusing on beefing up multifaceted cooperation.

Dung recommended that the Vietnamese and Chinese sides concentrate on cooperation in fields that match their strengths and demands, including construction, healthcare, education, culture, tourism, digital economy, and green economy. 

Ho Chi Minh City is striving to turn into a smart city and a regional logistics hub, creating a breakthrough for its economic development in the future, he told the conference.

"In this context, we hope Shandong authorities and the other Chinese regions will encourage tech and innovation-driven businesses to invest in Ho Chi Minh City and enhance the importation of commodities that align with the city's strengths," the official said.

The Ho Chi Minh City administration, as affirmed by the deputy chairman, will persist in improving the local investment climate to offer optimal conditions for foreign firms, including those from Shandong and those situated along the Yellow River, to invest in the city.

China is currently one of the city’s biggest trading partners and has invested over US$303 million in 590 projects there, ranking 17th among the 122 countries and territories directly investing in the southern Vietnamese metropolis, he told the conference.

Addressing the meeting, Song Junji, deputy governor of Shandong said the province’s industrial production value tops China with over one trillion yuan ($139.4 billion) while its economic size ranks third in the country.

Last year, the province placed fifth in attracting foreign direct investment, representing 11 percent of the total in China.

He highly appreciated Ho Chi Minh City as the largest economic hub of Vietnam that holds substantial potential for expansive economic cooperation with the provinces in the Yellow River basin and China in general, the Vietnam News Agency reported.

China has been Vietnam’s biggest trading partner over the past few years while the Southeast Asian nation respectively ranks fourth and first among the trading partners of China in the world and ASEAN, the Chinese official said.

The conference was aimed at laying a foundation for strengthening trade links between the Yellow River localities and Ho Chi Minh City in farm produce, garments, footwear, and electronic products, among others, he told the conference attendees. 

The Vietnam News Agency cited Chinese Consul General in Ho Chi Minh City Wei Huaxiang as saying Shandong has long cooperated effectively with many southern localities of Vietnam, including Ho Chi Minh City. 

The number of direct flights between the city and the Yellow River localities has almost doubled, reflecting their vast cooperation potentialities expected to be tapped for mutual interests, he commented.

The conference also heard a number of businesses from Shandong and many representatives of Shanxi, Qinghai, and Shaanxi Provinces in the Yellow River area introduced their potential in cooperation with Ho Chi Minh City. 

The event witnessed the signing of cooperation projects between Chinese and Vietnamese businesses in agricultural products, food, and industrial materials. 

In particular, Shandong-based Qingdao Port Group signed a friendly cooperation agreement with Saigon Port of Ho Chi Minh City.

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