Power-strapped Vietnam is expected to open its markets to allow Chinese entrepreneurs to do long-term business in the country.

According to Industry Minister Hoang Trung Hai, Vietnam and China may expand collaboration to areas beyond industrial cooperation in fields such as electricity, oil, gas and coal.

The Vietnamese industrial sector has to date received a total of $3.91 billion in development assistance from 12 donors, with Japan being the largest. Some 97% of the assistance is in loans the bulk of which are being used in the electricity industry.

The Ministry of Industry is also joining the State Bank, Electricity of Vietnam, and relevant ministries and agencies to negotiate with the World Bank on a credit fund of $200 million for a new transmission project.