Vietnam and China have closed multiple financing deals and bilateral agreements after Chinese President Xi Jinping began a two-day visit to Hanoi on Thursday, Tuoi Tre News reported.
The Chinese leader, who is General Secretary of the Communist Party of China, met with Vietnamese Party General Secretary Nguyen Phu Trong, who later both witnessed the signing of the cooperation agreements.
Among the documents is a memorandum of understanding (MoU) on boosting production capacity cooperation signed between Vietnam’s Ministry of Industry and Trade and China’s National Development and Reform Commission.
The Vietnamese Ministry of Planning and Investment and the Chinese Ministry of Commerce also closed an MoU on the optimization of the design of the Vietnam-China Friendship Palace, to be built in Hanoi.
Vietnam’s Ministry of Planning and Investment and the Export-Import Bank of China signed a memorandum on infrastructure cooperation, while the China Development Bank sealed a US$200 million lending contract for the Bank for Investment and Development of Vietnam.
The China Development Bank will also provide capital for thermal power plant projects in Vietnam, and arrange finance for one such facility in the south-central region.
The Chinese leader and Vietnamese Party chief also witnessed the signing of many cooperation agreements on cultural and friendship exchanges.