Xi and Lam held talks, and China-Vietnam relations are worth looking forward to!

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August 19, Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee and Chinese president, held talks with To Lam, general secretary of the Communist Party of Vietnam (CPV) Central Committee and Vietnamese president, on Monday in Beijing.

Xi welcomed Lam's state visit to China and once again congratulated him on his election as general secretary of the CPV Central Committee.

On Monday, the central banks of China and Vietnam inked a memorandum of understanding (MOU) on bilateral cooperation, according to the People's Bank of China (PBOC). The MOU was signed by PBOC Governor Pan Gongsheng and Nguyen Thi Hong, governor of the State Bank of Vietnam. The PBOC said the signing of the MOU will facilitate cooperation between China and Vietnam in such areas as local currency settlement, currency swaps and cross-border payment connectivity.

Vietnam has always been one of the hotspots for Chinese companies to "Go Global". Abundant human resources, relatively low labor costs, and preferential policies have attracted many Chinese companies to invest there. As a central enterprise, SUMEC International Technology Co., Ltd. (hereinafter referred to as "SUMEC-ITC") has always been committed to serving the needs of industrial customers, providing professional global supply chain integrated service solutions, and helping Chinese capital and Chinese products "Go Global". SUMEC-ITC has successfully helped several customers to expand markets and invest in factories in Vietnam.

Case

Company A specializes in outer packaging for electronic products. In 2023, as the upstream industrial chain of the industry gradually shifted to Southeast Asia, especially Vietnam, the company also followed the market demand and set up a factory in Vietnam to support production. After the project was launched, the company needed to purchase various types of equipment globally in a short period and ship them to the location of the Vietnamese factory as soon as possible for installation and commissioning. SUMEC Technology and Trade actively connected resources and assisted customers in selecting suppliers in a relatively short period of time, completing the selection and purchase of equipment such as offset printing machines and high-speed cutting machines; among them, some equipment can enjoy the tariff preferential treatment of the "China-ASEAN Free Trade Area". SUMEC Technology and Trade assisted customers in handling relevant certificates of origin and other formalities and documents for the first time. Taking into account the local customs clearance and transportation environment in Vietnam, in order to ensure that all equipment is shipped to the factory on time, the SUMEC Technology and Trade team also formulated a detailed "door-to-door" cross-border logistics and transportation plan, deployed logistics resources in China and Vietnam to coordinate and cooperate, and shortened the customs clearance time of goods from an average of 7 days to 2 days, helping customers reduce additional waiting costs, and fully ensuring that customers can successfully complete the equipment in place and start production on time with the best solution. 

For more service information, please send an email to sunyunchen@sumec.com to contact us for details! You can also call the hotline directly at 4006-979-616 for free consultation!

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