Chinese businesses hope to benefit from Lancang-Mekong River Mechanism

HANOI - Chinese entrepreneurs in Vietnam expressed hopes to boost businesses under the to-be Lancang-Mekong River Mechanism when discussing with a visiting Chinese expert delegation on Thursday.

Speaking at a forum on the mechanism, Li Yalin, Deputy General Manager of Industrial and Commercial Bank of China (ICBC) suggested Chinese enterprises to focus on sectors which have good prospects in Vietnam including micro-finance, hotel and tourism industry.

Meanwhile, Ou Kui, General Manager of Ya Nian (Vietnam) garment company said as Vietnam has joined the Trans-Pacific Partnership (TPP), garment and textile would be the most benefitted sector, and many Chinese garment companies have come to Vietnam in the past year.

Ou hoped that the Lancang-Mekong Dialogue and Cooperation Mechanism would help create a platform to help these companies, especially small- and medium-sized ones, in their transfer process, including provision of legal service, among others.

According to Zhang Jinfeng, former Chinese Ambassador to Cambodia and head of the delegation, the first Foreign Ministers' meeting on Lancang-Mekong River cooperation will be held in China's Yunnan in November to mark the official establishment of the mechanism.

The mechanism will not only meet the common interests of the six countries along Lancang-Mekong River, but also effectively promote the construction of the ASEAN Community and ASEAN integration process.

The mechanism will also contribute to boosting the China-ASEAN relations, and cooperation in Southeast Asian region.

The Lancang-Mekong River runs through China, Myanmar, Laos, Thailand, Cambodia and Vietnam. The first Senior Official's Meeting of Lancang-Mekong River Dialogue and Cooperation was held in China's Beijing in June 2015.