Photovoltaic industry booms in Vietnam's Bac Giang

Bac Giang, an agricultural province in northern Vietnam, is turning to the photovoltaic industry as its new engine of growth, as the alignment of China's Belt and Road Initiative with Vietnam's Two Corridors and One Economic Circle plan continues to be strengthened, China Economic Net reports. 

Trina Solar, a Chinese photovoltaic enterprise, opened its solar cell module factory, the largest of its kind in Vietnam, in an industrial park in Bac Giang last January. 

Company President Gao Jifan said, "Vietnam is one of the emerging economies in Southeast Asia, with relatively fast economic growth andadvantages in manufacturing and trade with China. Bac Giang province is located in an area where the Belt and Road Initiative and the Two Corridors and One Economic Circle plan overlap, so it is the top option for Chinese enterprises investing in Vietnam."

Trina Solar is planning to invest a total of US$100 million in Vietnam to build 14 solar cell manufacturing lines to meet demands from the American and European markets. So far, the company has created around 900 local jobs. 

A Vietnamese employee said she is well paid and she plans to work there for a long time.

Local officials said Bac Giang is moved to the forefront in Vietnam-China economic and trade cooperation because of its advantageous geographical position and preferential policies. 

Vietnamese government data shows Chinese mainland's contracted investment in the country in the first quarter of this year hit US$824 million, representing 10.68 percent of the total foreign investment Vietnam received. 

Hu Suojin, commercial counselor of the Chinese Embassy in Vietnam, said, China-Vietnam relations were further strengthened in 2016. Bilateral economic and trade cooperation has further advanced. Vietnam is now China's largest trade partner among ASEAN members. 

Hu hoped more Chinese and Vietnamese enterprises can jointly create good platforms for manufacturing and industrial capacity cooperation.