Business

China and Vietnam Prioritize Rail Links in Leaders' Meeting

Aug 16, 2024 1 min read

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Vietnam's newly appointed leader, To Lam, is scheduled to meet with China's President Xi Jinping next week to discuss measures aimed at boosting trade and improving supply chains between the two nations. Currently, Vietnam and China are connected by two railways that link Southern China to Vietnam's capital, Hanoi, and its northern industrial hub. However, the Vietnamese rail infrastructure dates back to French colonization and has a different gauge compared to Chinese high-speed rail.

In December, Xi offered grants and loans to help upgrade Vietnamese railways, and the two countries signed two memoranda of understanding (MoU) to enhance railway cooperation. The focus of Lam's visit to China will be on implementing these agreements and achieving new substantive cooperation results. Additional agreements are expected during the trip, covering railways, other investments, and trade in agricultural products. This cooperation comes amid broader economic shifts, including Chinese manufacturers moving operations to Vietnam due to trade tensions between China and the United States.

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