5.5 C
London
Tuesday, December 3, 2024
HomeNewsVietnam Seeks Loans and Technology from China for Transport Infrastructure

Vietnam Seeks Loans and Technology from China for Transport Infrastructure

Date:

Related stories

Gazprom Maintains Stable Gas Deliveries to Europe, Sending 42.3 Million m³ on Monday

Brussels, October 14 (FinanceFlashNews.com) – Gazprom, Russia’s gas producer,...

Markets Anticipate Faster ECB Rate Cuts as Eurozone Inflation Falls

Frankfurt, October 14 (FinanceFlashNews.com) – Financial markets are predicting...

Tax Hike in France Will Hurt Investments, Warns Stellantis CEO

Paris, October 14 (FinanceFlashNews.com) – The French government's plan...

Finland’s Inflation Drops to Lowest Level in Nearly Four Years

Helsinki, October 14 (FinanceFlashNews.com) – Year-on-year inflation in Finland...

Moody’s Downgrades Belgium’s Credit Outlook to Negative

Brussels, October 13 (FinanceFlashNews.com) – Moody's Ratings downgraded Belgium’s...
  • Vietnam has requested preferential loans and technology from China to develop its transport infrastructure.
  • The request was made by Vietnam’s President To Lam during his visit to Beijing.
  • Both countries agreed to improve rail and highway connections between them.
  • China has committed to importing more Vietnamese agricultural products.
  • 14 agreements were signed, including one on cross-border railway transport.

Hanoi, August 19 (FFN) – The Vietnamese government announced on Monday that President To Lam requested preferential loans and technology from China for the development of transport infrastructure during his visit to Beijing. This report comes from Reuters.

During his meeting on Monday with Chinese President Xi Jinping, both leaders agreed to enhance rail and highway connections between the two neighboring communist nations. Additionally, Xi Jinping pledged that China would increase its imports of Vietnamese agricultural products.

To Lam began his three-day visit to China on August 18, marking his first foreign trip since assuming office two weeks ago.

On Monday, China and Vietnam signed 14 agreements, including one focused on cross-border railway transport. The modernization of railways on the Vietnamese side is expected to boost trade and investment, particularly as a growing number of Chinese manufacturers relocate some operations to Vietnam due to trade tensions with the United States, which has imposed tariffs on certain Chinese goods.


Details of the Vietnam-China Agreement

MetricDetails
Vietnam’s RequestPreferential loans and technology
Meeting ParticipantsTo Lam, Xi Jinping
Number of Agreements Signed14
Focus AreasRailways, highways, agricultural trade
Vietnam Visit DateAugust 18-21, 2024
Financeflashnewshttps://financeflashnews.com
This article was written by the editorial team of Financeflashnews. We strive to provide you with accurate and up-to-date information from the world of finance and investment. If you find any errors in the article, please let us know at corrections@financeflashnews.com. Your feedback is valuable to us and will help us improve the quality of our content.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories