A delegation from the Greater Bay Area (GBA) visited Vietnam this week to discuss deepening economic and trade ties with the Southeast Asian nation, Vietnam News reports.
Led by Zhu Wei, deputy director of the Guangdong Provincial Development and Reform Commission, the delegation met with Vietnam’s deputy minister of finance, Nguyen Duc Tam, on Monday. Talks centred around the prospect of developing joint Vietnam-Guangdong industrial parks and strengthening supply chain linkages.
Zhu said he wanted to share the GBA’s experiences in reform and innovation with Vietnam, noting growing interest among local enterprises to invest in the country. He said the aim would be for long-term, sustainable partnerships that would contribute to Vietnam’s economic growth.
[See more: Macao eyes new flights to South Korea and Vietnam as passenger numbers climb]
Tam, meanwhile, said Vietnam was eager to increase its cooperation with the GBA, particularly in so-called “fourth industrial revolution” sectors like advanced technologies, biotechnology, new materials, pharmaceuticals, high-tech agriculture and clean energy. He also mentioned boosting trade in agricultural products and opportunities to invest in Vietnam’s railways.
Zhu and Tam agreed that a “two countries, two industrial parks” model that focused on electronics, display technology and automotive components would be a step forward in their relationship.
According to the People’s Government of Guangzhou Municipality, Guangdong’s trade volume with Vietnam accounts for about a fifth of total trade between China and Vietnam. Between January and June 2024, two-way trade between Guangdong and Vietnam increased by almost 30 percent year-on-year.
