The signing took place during a Viet Nam visit by 50 leading businesses of Zhanjiang to seek opportunities for cooperation in such areas as shipping, electromechanics, textiles, electric utensils, fisheries, ceramics, trade and tourism. Deputy mayor of Zhanjiang Ruan Risheng said that the Chinese businesses have signed contracts worth a total of 423 million USD with Vietnamese businesses in both northern and southern regions during the visit. The same day, the Chinese businesses and more than 100 Vietnamese businesses from southern provinces discussed opportunities for cooperation and shared experiences at a meeting held in the city by the Viet Nam Chamber of Commerce and Industry, the Trade Ministry and the authorities of Zhanjiang city and Ho Chi Minh City.

The recently signed projects include a 100 million USD project on sea port cooperation, a 5.6 million USD project on import of motorbike parts, a 30.5 million USD project on coal import from Viet Nam, a 12 million USD project on furniture import, tourism projects worth 1 million USD and others. Ci Shaohua, Secretary of the Party Committee and Chairman of the People's Council of Zhanjiang city, said that an increasing number of Zhanjiang businesses consider Viet Nam to be an important destination for cooperation, and that the prospects for cooperation between Vietnamese localities and Zhanjiang are optimistic.

The shipping cooperation between Zhanjiang and Ho Chi Minh City, Hai Phong and Ha Noi of Viet Nam has developed strongly over the recent past, with 710,000 tonnes of export and import products having been transported through Zhanjiang port in 2005, including 384,000 tonnes of goods imported from Viet Nam, he said.

Trade between Zhanjiang and Vietnamese businesses has reached 92.5 million USD in 2005, with imports from Viet Nam worth 85.87 million USD. Zhanjiang is now one of China's 40 best cities in terms of its investment environment. It houses one of China's four largest sugar mills and the largest oil port in the country.

Source: Vietnam Agency