Chinese and Vietnamese companies signed nine deals worth more than US$2 billion at the China-Vietnam Business Forum in Beijing on Friday.

Among the deals, the China Merchants Group signed a letter of intent on investment in Ho Chi Minh City, with a contract value of about US$1 billion.

The China Huadian Corporation signed a memorandum of understanding on power generation, which was worth US$650 million. The China Airport Construction Group Corporation signed a US$400 million deal on highway construction.

Other deals include cement production, real estate and communications.

China has more than 400 investment projects in Vietnam, with a total value of more than US$800 million. Trade volume between the two countries in 2006 reached US$9.95 billion.

Vietnamese President Nguyen Minh Triet attended the opening ceremony of the forum and delivered a keynote speech.

Nguyen said China was the major market and trading partner of Vietnam. The two countries shared broad prospects of cooperation in economy and trade.

He encouraged businesses of both countries to take the initiative and put cooperation intent into practice as soon as possible.

The Vietnamese government and the Communist Party would continue to provide favorable conditions and policies for cooperation, Nguyen said.

The forum -- co-sponsored by the China Council for the Promotion of International Trade and the Chamber of Commerce and Industry of Vietnam -- attracted more than 500 Chinese and Vietnamese businesses.

(Xinhua News Agency May 19, 2007)