Delegation seeks Chinese investment in Vietnam's third largest city

⁠⁠⁠⁠⁠⁠⁠The 2024 Hai Phong City Investment Promotion Conference was held in the southern Chinese city of Shenzhen on Wednesday.

The conference, aimed at attracting Chinese direct investment, was addressed by Le Tien Chau, a member of the Central Committee of the Communist Party of Vietnam and Secretary of Hai Phong City Party Committee. Le Tien Chau is leading a delegation of 30 representatives on a five-day visit to Shenzhen.

At the 2024 Hai Phong City Investment Promotion Conference, Vietnamese government officials and entrepreneurs gave detailed presentations on the city's environment, preferential policies, and infrastructure.

"Hai Phong has a geographically important location. There are five modes of transportation – roads, railways, inland waterways, sea and air. The highways connect Hai Phong with Hanoi and the northern regions of Vietnam, as well as the southwest of China – which is very convenient. All these advantages have attracted domestic and foreign investment projects," said Le Anh Quan, Standing Vice Chairman of Hai Phong City People's Committee.

As Vietnam's third largest city, Hai Phong is a successful destination for many foreign investors, including those from China. The city is home to two industrial zones developed by Chinese investors – with a total investment of 6.15 billion U.S. dollars.

"We come here today to introduce our IP and are looking for a chance to meet some potential customers and partners. We want to introduce about Hai Phong investment climate as well as our advantages," said Tran Thi To Loan, Developer, Nam Dinh Vu Ip Vice General Director of Sao Do Group.

Le Tien Chau's delegation arrived in Shenzhen on Sunday. Starting Monday, they have had three days of business exchanges with Shenzhen corporate and government officials.

"Hai Phong City is where Shenzhen's first overseas economic and trade cooperation zone is located. In the future, Shenzhen enterprises may pay greater attention to the electronic information industry, manufacturing industry, as well as logistics and tourism, in Vietnam," said Lin Hui, Joint Executive President of the Shenzhen Chamber of Commerce.

The delegation also toured Chinese consumer electronics giant TCL Technology Group Corp, which, with three factories, has turned Vietnam into a regional manufacturing hub.

In 2010, Chinese investment in Vietnam was only 300 million U.S. dollars, but last year it reached 4.4 billion U.S. dollars, an increase of 14 times. As one of Southeast Asia's fastest growing economies, Vietnam is embracing mounting opportunities brought by increasing numbers of Chinese investors.

Since 1984, the Chinese mainland has delivered a total of 75.7 billion kwh of electricity to its Macao Special Administrative Region (SAR), according to China Southern Power Grid (CSG) on Wednesday.

This year alone, electricity supplied to Macao from the mainland has surpassed 5.3 billion kwh, a 27-fold increase since Macao's return to the motherland in 1999, accounting for nearly 90 percent of Macao's total consumption.

To ensure stable power supply, CSG has connected Macao to south China's Guangdong Province via 12 high-voltage transmission lines.

On December 20, 1999, the Chinese government resumed its exercise of sovereignty over Macao and announced the official establishment of the Macao SAR.