While BBM seeks closer ties with Vietnam, China is accelerating its Investments in Vietnam

Vietnam+: China accelerates investment in Vietnam

While Bong Bong Marcos (BBM) wants to establish closer ties with Vietnam by eyeing a “Maritime Cooperation” Deal with them, China is in fact accelerating its Investments in Vietnam, investing over Usd 2.33 billion already just from January to July of this Year of 2023 alone and surpassing Japan to position itself on Third Place among Vietnam’s Top Investors 

China also now is the County with the most Number of Projects in Vietnam with 325. Among the major Chinese Projects investing in Vietnam just for this Year alone are the following: 

* Xiamen Hithium Energy Storage Technology plans to invest around Usd 900 million in a factory in the Northern Province of Hai Duong

* Growatt New Energy is expanding its Factory in the northern Port City of Hai Phong with a budget worth an estimated Usd 300 million

* Greenwich Management Limited to build a Factory producing Aluminum Alloys worth Usd 165 million which is set to begin operations in October 2024

So sorry to BBM’s expectations, but just like almost of the other Countries in South East Asia (SEA) except the Philippines, Vietnam is now growing even closer to China than ever before

SOURCE: China accelerates investment in Vietnam {Archived Link}

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