Bắc Ninh focuses on developing economic ties with Chinese businesses and localities

Students at a Goertek training centre in the Quế Võ Industrial Park in northern Bắc Ninh Province. — VNA/VNS Photo

BẮC NINH — Recognising local cooperation as a crucial component of the comprehensive strategic partnership between Việt Nam and China, the northern province of Bắc Ninh has been focusing on expanding its economic cooperation with Chinese businesses and localities in recent years.

Notable agreements include the Memorandum of Understanding between the People’s Committee of Bắc Ninh Province and the People’s Government of Nanning City, Guangxi Autonomous Region, regarding the establishment of a Government Cooperation Mechanism. Bắc Ninh City has signed a Cooperation and Friendship Agreement with Lai Tan city in Guangxi Province of China.

In addition, the province has active exchanges with Shandong Province, an eastern coastal province that plays a key role in the Chinese industrial sector, hosting 41 major industries and serving as a vital connection point in the economic development strategy for the northern region of China. The cooperation between Bắc Ninh and Shandong has made significant progress, with increased information exchange and investment promotion.

The two provinces’ collaboration aims to increase exchanges, share experiences and resources, foster trust, and promote joint development. With Shandong being an industrial province with a large population and the third-largest economy in China, the opportunities for cooperation are substantial.

Weifang City, a strategic partner of Bắc Ninh, is notable for being the second-largest in terms of industrial enterprises and the second and third in industrial activities and profits, respectively, in Shandong Province. Weifang specialises in industries such as high-end equipment manufacturing, advanced chemicals, food processing, new-generation information technology, automobile manufacturing, textiles, paper, and packaging. Among the 440 projects from China investing in Bắc Ninh, Goertek Group from Weifang accounts for over US$900 million. Over the past decade, Goertek has continuously expanded in Bắc Ninh, employing 37,000 workers across three projects.

In a recent meeting with provincial leaders, Secretary of the Party Committee of Weifang City Liu Yun praised Bắc Ninh for its support of Shandong’s enterprises. The province has promptly addressed suggestions and proposals, contributing to the success of businesses. The Shandong delegation chose to work with Bắc Ninh due to these favourable conditions and expressed the hope for continued attention and better conditions for new and expanded investment projects in the province.

He said the Chinese province will continue staying committed to encouraging enterprises, partners, and Chinese businesses to invest and produce in Bắc Ninh, actively seeking and expanding new development opportunities. Recognising economic diplomacy as a focal task, Bắc Ninh aims to promote investment, boost foreign economic relations, and strongly reform administrative procedures in 2024.

The province also plans to promote its strengths to countries and territories worldwide, shaping a reasonable development model and achieving development goals to solidify its position as a stable growth hub in the Northern Key Economic Region and the Capital Region, contributing significantly to the overall economic growth of the nation.

Since the establishment of diplomatic relations in 1950, the political and diplomatic ties between Việt Nam and China have continuously strengthened, solidified, and collaborated in defence and security, becoming a cornerstone in their bilateral relationship. Economic, trade, and investment cooperation have all seen significant development, with vibrant people-to-people exchanges in various forms.

In the first 11 months of 2023, the Việt Nam-China import-export turnover reached over $150 billion, nearly eight times the scale of over 10 years ago. China’s investment cooperation with Việt Nam is extensive, with rapid growth in scale and scope. Chinese enterprises’ investments in Việt Nam have contributed to improving the residents’ quality of life. VNS