Expanding Economic Ties: Laoling City in China Boosts Commerce and Investment in Ho Chi Minh City
In a significant move to boost business exchanges and cooperation, particularly in the food and spice sectors, China's Laoling City organised a promotion conference in Ho Chi Minh City, Vietnam from August 7-9 [1]. This marked Laoling's first such event in Vietnam, aiming to strengthen bilateral ties between the two countries.
Laoling, known as the "Northern Gateway of Shandong," is renowned for its red dates, sports manufacturing industry, spice production, and attractive tourism destinations. The city has developed specialized industrial parks and support facilities like shared laboratories, testing centers, and storage hubs to support the spice and food processing industry [1].
The conference was coordinated by China's Laoling City, in collaboration with VINEXAD. It provided opportunities for enterprises from both China and Vietnam to connect directly, introduce products, and expand their networks. Key industries and investment opportunities promoted during the conference included sports equipment manufacturing, food spices production, pharmaceuticals and chemicals, auto parts manufacturing, and emerging sectors such as modern logistics, education and training, culture-tourism-film, and the digital economy [1].
One of the participants at the conference was the Liang Zhi Long Group, who marked their official first step in their international expansion strategy, with Vietnam as a key starting point. The event demonstrated China's Laoling City's commitment to expanding trade ties [1].
Võ Hòng Sơn, head of the Southern Representative Office of the Ministry of Industry and Trade, stated that economic and trade ties between Vietnam and China have made remarkable progress in recent years [1]. This initiative by Laoling City reflects their commitment to expanding bilateral cooperation with Vietnam, leveraging the interlinked supply and production chains between the two countries to create more direct connections and opportunities for enterprises from both sides [1].
References: [1] Laoling City Promotes Key Industries and Investment Opportunities at First Trade and Economic Cooperation Conference in Vietnam. (2022, August 10). Retrieved from https://www.laolingcity.gov.cn/en/news/202208/t20220810_271548.html
- The sports manufacturing industry in Laoling City, known as the "Northern Gateway of Shandong," was among the key industries promoted during the trade and economic cooperation conference in Ho Chi Minh City, Vietnam.
- Besides sports, the Liang Zhi Long Group, a participant at the conference, announced its foray into the international market, with a focus on education and training as part of their expansion strategy.
- The digital economy, along with culture-tourism-film and auto parts manufacturing, were also highlighted as emerging sectors for potential business collaboration between Laoling City and Vietnam.
- The development of specialized industrial parks and support facilities in Laoling City is aimed at strengthening the spice and food processing industry, a sector that was prominently showcased at the conference.
- The conference served as an opportunity for enterprises from both China and Vietnam to engage in financial activities like investing in key industries and establishing connections that could potentially impact the economy of both countries.
