PM Nguyen Xuan Phuc. Photo: VGP

The event is an opportunity for Viet Nam to introduce the trademarks and business image to China and the wider world with a view of attracting more foreign investment and expanding export market.

Viet Nam has been selected as one of 12 “guests of honor” along with Brazil, Canada, Egypt, Germany, Hungary, Indonesia, Mexico, Pakistan, Russia, South Africa, and the United Kingdom for the first CIIE 2018 among 130 countries and territories.

The CIIE 2018, organized from November 5-10, will see the participation of more than 2,800 companies, including over 200 businesses on the Fortune Global 500 list, as well as a wide range of small and medium-sized companies such as fruit exporters in Southeast Asia and coffee makers in South America..

China-largest trade partner of VN

PM Nguyen Xuan Phuc’s participation in the CIIE demonstrates that Viet Nam attaches importance to the event as well as to sustainable and healthy cooperation with China.

Viet Nam expects to work with China to boost bilateral economic and trade ties, encourage the two sides’ ministries, agencies and localities to accelerate cooperation for mutual benefits and support each other in organizing events.

China has been the largest trade partner of Viet Nam with the the two-way trade value reaching US$76 billion in the first nine months this year.

In 2017, China poured US$2.17 billion in Viet Nam, up 20% against the previous year. As of September 2018, the Northern neighbor had 2,041 projects in Viet Nam with the registered capital of US$12.78 billion, ranking 7th among 129 nations and territories.

China is also the leading tourism source market with four million Chinese visiting Viet Nam in 2017. The figure rose 29.7% in the first nine months this year to 3.8 million.