15:03 (GMT +7) - Sunday 11/12/2016

Business

$325 million in contracts inked at Lao Cai trade fair

Released at: 13:02, 18/11/2015

$325 million in contracts inked at Lao Cai trade fair

15th Vietnam-China International Trade Fair 2015 in Lao Cai province see contracts signed between Vietnamese and Chinese traders and wide range of goods exhibited and sold.

by Hoai An

The 15th Vietnam-China International Trade Fair 2015 at the Kim Thanh Fair - Exhibition Center in northern Lao Cai province officially wrapped up on November 17.

Held within the National Trade Promotion Program 2015, the fair was jointly organized by the Ministry of Industry and Trade and the Lao Cai Provincial People’s Committee and aimed at promoting the trade and export of Vietnamese products with potential and advantages, including farm produce and aquatic products.

According to the Deputy Director of the Lao Cai Department of Industry and Trade, Mr. Hoang Chi Hien, the fair hosted over 150,000 visitors and saw sales totaling nearly VND20 billion ($896,860). There were also 15 economic contracts signed between Vietnamese and Chinese enterprises at the fair, worth a total of $325 million. Export contracts were worth $222.5 million, accounting for 68 per cent of those signed.

This year’s fair featured over 750 booths, of which 520 showcased products from Vietnamese enterprises, 230 were booked by Chinese enterprises, and the remainder belonged to enterprises from Thailand, South Korea, Hong Kong (China), and Ghana. Various products were on display, including farm produce, aquatic products, furniture, handicrafts, machinery, and electronic products.

Mr. Le Ngoc Hung, Deputy Chairman of the Lao Cai Provincial People’s Committee, said the fair also provided a venue for enterprises from Vietnam and China to seek partnerships and enlarge export markets, contributing to trade turnover via the Lao Cai - Ha Khau Border Gate reaching $5 billion by 2020 and making the border gate become a bridge between Southwest China and other markets in the ASEAN region.

This year’s holding yet again promoted the significant role of the annual trade fair in boosting tourism and the trade and export of products between the northwest provinces of Vietnam and Yunnan and other southwest provinces of China along the Kunming - Lao Cai - Hanoi - Hai Phong - Quang Ninh economic corridor.

There are currently 13 foreign direct investment (FDI) projects in Lao Cai belonging to Chinese enterprises, including the Ha Khau - Lao Cai 220KV electricity transmission line, the Seng Chung Ho hydroelectric project, and the Lao Cai Steel Plant.

User comment (0)

Send comment