They will work to strengthen economic and trade exchanges, develop raw materials for the industrial and agricultural processing sectors, and create outlets for each other’s products.

They will exchange information and experience related to making plans and policies for developing industry and trade, raw materials, human resources, and others.

Can Tho will regularly provide information about its plans to develop industrial parks and clusters as well as projects seeking investors and incentives offered to investors to attract investments from HCM City.

HCM City would provide Can Tho with details of supermarkets, and markets to enable the latter’s businesses to find partners, Thai Van Re, director of the HCM City Department of Planning and Investment, said.

The two sides will step up co-operation in investment, technology transfer, human-resource training, tourism, IT, and medicine among others.

They would organise annual reviews to assess the progress made in co-operation and resolve difficulties, Re said.

Speaking at the meeting, Le Thanh Hai, secretary of the Party Committee of HCM City, said: "The co-operation between the two cities in the past eight years has yielded encouraging results, but [they] remain modest compared to the potential."

The two sides must work to overcome shortcomings to enhance the results, he said.

He urged authorities in the two cities to pay attention to developing in a green and sustainable manner.

They should step up the use of technology in agriculture and industry and share their experiences in administrative reform, he added.

Fifteen HCM City businesses have registered to invest VND84.87 trillion (US$4 billion) in shopping malls, services, urban development, and housing in Can Tho.

Besides, 34 others have invested $278.3 million in nearly 40 projects in Can Tho industrial parks.