VCCI launches plan to boost expansion in China

The Vietnam Chamber of Commerce and Industry (VCCI) has recently announced a plan to encourage business expansion into China, local media reported.

Under the plan, VCII will provide free air tickets to China for a selected business mission attending China International Fair for Investment & Trade (CIFIT) held in Xiamen from Sep. 8-11, and conduct market surveys in Guangzhou as well.

Sponsored by China's Ministry of Commerce (MOFCOM), the UFI-approved CIFIT is the world’s largest international investment promotion event aiming at bilateral investment cooperation.

Vietnam's trade deficit with China climbed to US$2.81 billion in 2005 and US$3.8 billion in 2006. The country aims to boost its exports to China to US$5.4 billion by 2010 and US$11.1 billion at 2015 to narrow the trade deficit. The two neighbors have targeted to obtain bilateral trade revenues of $15 billion in 2010.

Vietnam Chamber of Commerce and Industry is a national organization which assembles and represents business community, employers and business associations of all economic sectors in Vietnam.