The Vietnamese government has just approved the context of four Vietnam-China deals, under which China will grant roughly 1.7 billion renminbi (RMB) (197.2 million US dollars) worth of preferential loans and nonrefundable aid, local newspaper Saigon Liberation reported Sunday.

Of the deals to be signed shortly, two involve in modernizing the railway signal systems linking the capital city of Hanoi and the four northern provinces of Thai Nguyen, Lang Son and Lao Cai, and between central Vinh city and southern Ho Chi Minh City. The preferential credits for the two railway projects stand at nearly 1.1 billion RMB (nearly 127.6 million US dollars).

Another credit of 550 million RMB (63.8 million US dollars) and a non-refundable aid of 60 million RMB (some 7 million US dollars) will be poured into two other industry projects.

As of September, Chinese direct investment in Vietnam rose to 710 million US dollars with 346 projects. China has become the biggest trade partner of Vietnam.

Source: Xinhua